Commercial Duplex on the Market at London Terrace Posted by Susan Piperato

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August 12, 2009 Commercial Duplex on the Market at London Terrace Posted By Susan Piperato NEW YORK, NY–Two combined vacant commercial condominium units and a duplex at 461 West 23rd Street are for sale in the ground floor and basement retail component of London Terrace, the 18-story residential condominium development situated between Ninth and 10th Avenues in Chelsea. An Eastern Consolidated team comprised of Jeffrey B. Troy, Senior Director, together with Jeffrey Randall Karp and Peter Carillo, both directors, are marketing the property at an asking price of $2.975 million. “This is an exceptional opportunity to own commercial space on one of Manhattan’s busiest Chelsea thoroughfares,” said Troy. “The space was occupied by the restaurant Bette, the same owner who operates the celebrity bar Bungalow 8, in both New York and London, and the former Lot 61. The commercial condo is still fully built out as a restaurant complete with dining room, bar, and kitchen, while the cellar, accessed with an interconnecting stairway, contains a prep kitchen, wine and other storage areas, plus a manager’s office. Situated just off Tenth Avenue, this location is ideal for a restaurant and other retail uses given the high density of residents and businesses in the area.” West Chelsea has undergone intense revitalization in the past two decades. Retail establishments have been upgraded and there has been significant turnover from wholesale and manufacturing space to boutique, galleries, restaurants, and retail stores. The property is served by the #1 subway line along Seventh Avenue at West 23rd Street, and the Eighth Avenue C and E trains only two blocks east of the property. For further information about the imminent sale, please contact Messrs. Troy or Carillo at Eastern Consolidated’s Midtown offices: 212 499-7700 .

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