Blue Man Group’s Clinton Street Recording Studio is on the Market for $7.2M ‘Development Opportunity
It’s a uniquely constructed mid-block building sandwiched between a seven-story luxury condo development and a decades-old tenement. Now, 48 Clinton Street may soon disappear altogether. The property is on the market as a “development opportunity.”
The listing first began circulating last month via RKF, for an undisclosed sum. A month later, however, the exclusive brokerage is Cushman & Wakefield, pitching the property for $7.2 million. There are air rights available, too, which can go toward the 10,000 buildable square-feet. The building itself can be delivered vacant.
Here are the pertinents:
The building was developed in 2000 into a mixed use building with recording studio. The ground floor contains the recording studio with double height ceiling. There are front and back mezzanine spaces (office/studio use). The 3rd floor contains 2 apartments with private terraces. The 4th floor contains a studio apartment with a terrace. The site is in an R7A zone with C1-5 commercial overlay. This 5,467 SF (above grade) property is underbuilt, and contains approx. 4,653 SF of air rights. The site can hold a maximum of 10,000 buildable SF for residential or mixed use. It is an ideal opportunity for a user to occupy the existing building or a developer looking to maximize the building envelope. It is within close proximity to Essex Crossing, a development that will consist of 1.9 million square feet of residential, commercial, and community space. The site will be delivered vacant and offers an excellent opportunity for a user/ developer to take advantage of a fast growing neighborhood.
48 Clinton Street typically keeps to itself, but there is a lot happening behind those doors. This was the last stop of the storied LoHo Studios, which got its start on Lafayette Street in 1983. The room – founded by brothers Edward and Victor Luke – became a popular destinateion, and acted host to Willie Nelson, Patti Smith, Joan Jett, Yo La Tengo, Art Garfunkel, and Joey Ramone. LoHo moved here in the late 1990s, where it would reside until Blue Man Productions purchased the facility in 2007 for $5 million. The group behind the off-Broadway show of same has used it for rehearsals, recording sessions, producing commercial spots, and auditioning new Blue recruits.