St. Marks is now bereft of the Sock Man and soon Trash and Vaudeville, and now it looks like the Chase bank building at 130 Second Avenue will also be a goner. The branch was cleared for demolition Friday, leaving us to wonder what will replace it.
JP Morgan Chase sold the building to Stellar Management back in September for $12 million and closed up shop in November. (They also closed the branch on Avenue A and East 2nd Street.)
For a while, the owners were probably hoping new money would pour into the old building, constructed in 1952 for the Bankers Federal Savings and Loan Association. The Chase space was listed by Icon Realty for about $72,000 a month. Now it seems they simply gave up on finding a tenant (after all, it wasn’t likely the community board would hand some new bar or club a liquor license without a fight), and are betting on an entirely new building.
We can’t say we’ll miss you, old Chase–especially since we can just find another on 10th Street or down on Astor Place. But before you dance gleefully on Chase’s grave (as EV Grieve noted, one person already did, with a “good riddance” tag on Chases’s door) consider that demolition means a new building will soon go up in its place.
As Commercial Observer previously reported, the site allows for redevelopment of the current 4,760-square-foot two-story site into a mixed-use retail and residential project of 9,520 square feet. Stellar also jointly owns 128 Second Avenue next door, with Icon Realty (which has come under frequent allegations of tenant harrassment).
Will the two plots be joined, or will the inevitable CrossFit come to the corner of St. Marks and Second?