Ma Non Troppo Vacates 101 Stanton Street Shortly After $12.9M Building Sale
Looks like Ma Non Troppo was snared in the same trappings as its commercial address-mate, and is now gone from Hell Square. Tombstone leasing signage has been affixed above the entrance to the boutique at 101 Stanton Street since December.
You’ll recall that a small consortium of real estate firms – Penn South Capital, Conway Capital, and Rudd Realty Management – scooped up 101-103 Stanton in June for $12.9 million. Seller 101 Owners Corp., a shell company for Arwen Properties/Luthien Group, which also sold other holdings in the immediate vicinity, had acquired the tenement in 2004 for $2.7 million.
The new ownership group aims to “renovate the vacant apartments as well as secure new tenants for one of the most exciting retail plays in the Lower East Side,” according to a recent hype email received from Penn South. So, the chances of survival for current retailers here was rather minimal.
The summertime transaction created shaky ground for Prema Hair Salon, which had been in the corner store for years. Ultimately it was able to negotiate a favorable lease to stay put, but only after months of uncertainty.
Ma Non Troppo – born at 9 Clinton Street in November 2015 – wasn’t as lucky. Having only relocated here a little more than a year ago, the boutique ultimately closed shop at the end of last month. The store was quickly unloaded, and a farewell letter posted to the door.
However, they’ve since relocated to 426 Broome Street in SoHo.