141 Chrystie Street is for Sale Yet Again, this Time for $15M

Posted on: April 19th, 2016 at 9:27 am by
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To the surprise of few, the stout 141 Chrystie Street is now officially on the open market. For purchase. The two-story building carries a huge banner strung from its marquee, alerting all to its imminent fate.

The last five years weren’t too pretty for 141 Chrystie. Formerly used as office space for a local law firm, the conversion began in 2011, and later marked with over-the-top remodeling and failed nightlife. Indeed, during that time, proprietor Ming Cheung (aka Fay’s Restaurant & Bar Inc) tried awfully hard, from the early days of Mystique and Chrystie 141 to the laughable moments of Bobby’s, Red Heels, and LES Sports Bar. Each of these endeavors were apparently under the same ownership … and equally short-lived.

With Cheung now out of the picture, the building owner hopes to cash out. Yet again. It’s the second time in as many years that the property is up for grabs. Last time, it was going for $13.5 million; now it’ll cost you $15 million.

It’s a near certainty that the buyer, if there is one, will likely demolish and develop anew for maximum profit. That’s how 141 Chrystie is presently being pitched – 23-foot by 106-foot lot, 18,700 buildable square-feet, foundation still intact.

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Dated rendering of possible 12-story building at 141 Chrystie

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