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281 Grand Street Sells For $8.5 Million

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A tenement on Grand Street, near Eldridge, was recently sold for $8.5 million.

281 Grand St.
281 Grand St.

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.”

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