This New Building on Rapidly Gentrifying Grand Street has 7 Spaces for Rent
The corner property at 290 Grand Street went under the knife more than a year ago, and subsequently lost its old-world charm. Reincarnated as a blah brick box many months later, the building is no longer recongnizable. And now ownership seeks several tenants to match the overall trend happening on this block dominated by Chinese open-air markets. Expect more galleries.
That much is clear with several new postings on Craigslist over the last few months. Most we’ve seen pitched the building as prime for art space. And now there’s a dedicated website, with exclusive broker Citinest Group pitching the property (and at slightly reduced prices).
Three separate commercial spaces on the corner were carved out of the former Lok Sing Chinese Restaurant. Plus office space on both the basement and upper levels. (Total of seven commercial spaces.) Below is the rundown of what’s available.
- 2 stores on Eldridge Street: 410 sf $5,500 each
- Corner store at Eldridge and Grand: 785 sf $9,500
- Office 2nd floor: 685 sf $6,000
- Office 2nd fl: 810 sf $6,500
- Office Basement: 525 sf $3,500
- Office Basement: 418 sf $3,000
It’s fairly clear what’s happening along Grand Street between Allen and the Bowery. More and more showrooms are sprouting at the expense of small-time Chinese businesses. Of course, it doesn’t help that landlords/brokers are seemingly force-feeding promising a future of sleek whitebox.
The sentiment summed up by some of the broker babble on the website – “Surrounded by art galleries, coffee shops and cafes, Chinese theaters, and so many other cultural treasures, this thriving area is on the rise, and is certainly the perfect neighborhood for your business use.”