Apartment Complex Housing “Cake Shop” On the Market For $21.25 Million

149-151 Ludlow Street.

Gotham Court, the apartment complex that is also the home of troubled music venue, Cake Shop, is on the market for $21.25 million. Eastern Consolidated is listing the property, a block-through complex that has an entrance at 149-151 Essex Street, where the Laugh Lounge is located.

The five-story 152 Ludlow building includes two duplex apartments. They’re both 4 bedroom/3 bath units with outdoor space. There are 20 apartments in the 7-story building on Essex Street.  The complex underwent a major reconstruction in 2003.

Last month, the New York Times reported that Cake Shop’s owners are “under a court order to pay the landlord $58,000 by July 26, to cover the club’s share of taxes under the lease for two calendar years.”  They also face thousands of dollars in fines from the State Liquor Authority. Cake Shop launched a crowdfunding campaign to save the music club, which has been located in the building since 2005.

 

Cake Shop’s Future Remains Uncertain

Cake Shop, 152 Ludlow Street.

Last Friday night, Brooklyn Vegan broke the news that Ludlow Street music club Cake Shop is in trouble.  The web site published part of a desperate email appeal from co-owner Andy Bodes saying the venue would close if an investor didn’t come forward in 72 hours with $10,000.  Today Grub Street has an update.

Upon stopping by Cake Shop yesterday afternoon, Jenny Miller discovered the establishment is still open but definitely still in jeopardy.  Co-owner Nick Bodor said “several generous individuals” came forward with the $10K.  According to Bodor the twin culprits are high real estate taxes, which the landlord is passing on, as well as fines levied during the NYPD’s bar crackdown last year.