A tenement on Grand Street, near Eldridge, was recently sold for $8.5 million.
The five story building was purchased by a company known as Jacobs RE LLC, which has a mailing address in Flushing, Queens. The 15,600 square foot property is right next to a building, 283-285 Grand St., which was demolished following a devastating 2010 fire. The neighboring site is now home to a glassy commercial building that has sat vacant for many months after construction was completed.
Right now, on Douglas Elliman’s web site, there’s a listing for a 2700 square foot “commercial loft” on the second floor at 281 Grand Street. The 5-bedroom unit is listed for $14,500/per month. Elliman adds: “Feel free to inquire about other loft configurations at 281 Grand Street we have multiple options beginning at $4,700 to fit your needs.”
It’s worth quite a bit more.