We’ve been getting lots of questions lately about what’s happening at 259 East Broadway, a tenement that’s undergone a major face lift in the past couple of years. Workers are putting the finishing touches on two ground floor retail spaces. There are now placards in the window from a brokerage firm, Quality Living, advertising the spaces.
The six story building was sold in 2013 for $3.5 million to a company linked to R.A. Cohen and Associates, a real estate investment firm. The once grimy exterior was scrubbed clean and apartments were renovated. Last fall, the owners of Big Apple Deli, the bodega that occupied the corner of East Broadway and Montgomery Street told us they would be returning to the storefront once renovations were complete. That’s obviously not happening.
Relly Arbib of Quality Living has not responded to our inquiries about the retail spaces. But locals who have been in touch with the broker say they’re asking $15,000/month for the 1200 sq. ft. space, with frontages on both East Broadway and Montgomery. The basement is also included. A smaller space in the back of the building is priced at $8,000/month.
The storefronts once used by the bodega and a Chinese takeout restaurant have been combined. The new space now features exposed brick and ceilings and new modern floor-to-ceiling windows. Big Apple’s license to sell beer with the State Liquor Authority expired a few months ago. A different type of permit would be required if a restaurant or bar leases either space.
