A unique opportunity awaits a wealthy buyer in Greenwich Village’s historic district. A property on Gay St., encompassing numbers 14 and 16, is available for purchase at the price of $6.64 million. However, the buyer must first obtain approval from both the Landmarks Preservation Commission and the Department of Buildings. This property is part of a larger portfolio of five buildings owned by developer Lionel Nazarian, who acquired them for approximately $12 million last year. Previously, the late Celeste Martin, an eccentric actress and activist, owned these properties, with a combined worth of over $25 million at the time of her death in 2019 at the age of 98.
One of Martin’s properties, commonly known as “the pink stucco townhouse” located at 114 Waverly Place, was sold to Robert and Cortney Novogratz in 2019 for $8.5 million. However, alleged illegal work carried out in the basement of 14 Gay St. led to the Department of Buildings deeming the 196-year-old Federal-style row house unsafe. Consequently, the department ordered its demolition in January. As a result, the now-vacant space of 14 Gay St. and the adjoining 16 Gay St. are now available for purchase.
16 Gay St., a beautiful Federal-style rowhouse, can be purchased separately for $2.99 million. Inside, one can find the charming allure of Federal-style architecture. The Gay Street addresses can also be combined to create a spacious 4,500-square-foot residence, pending approval. Additional space can be obtained through a finished cellar, providing an extra 1,500 square feet. A highlight of this property is its outdoor entertaining space atop 16 Gay St., offering a peaceful retreat in the heart of the city.
The controversial demolition of 14 Gay St. sparked outrage among locals and activists. Councilman Erik Bottcher, State Senator Brad Hoylman-Sigal, Assemblywoman Deborah Glick, and others held a press conference demanding an end to such actions. Councilman Bottcher emphasized the importance of accountability for those responsible for neglecting the historic building and allowing it to deteriorate to the point of collapse. While prioritizing human safety, he also voiced concerns about irresponsible construction practices leading to demolitions.
Lionel Nazarian, the current owner, faced criticism in the past for his alleged attempts to force out rent-regulated tenants from an East Village building. Despite this, Nazarian maintains his innocence regarding the situation with the Gay St. properties.
It is worth noting that these properties were formerly owned by the late Celeste Martin as part of a larger real estate portfolio. Additionally, 14 Gay St. holds historical significance, as it was once the basement apartment of author Ruth McKenney. McKenney paid a mere $45 per month in 1934 and used this space as the setting for her series of New Yorker stories in the 1930s. Eventually, these tales were adapted into the book “My Sister Eileen” in 1938, which was subsequently turned into films, radio shows, and a TV series.
The listing brokers for these properties are Matthew Lesser, Ravi Kantha, and Matthew Pravda of Leslie J. Garfield. Don’t miss the chance to own a piece of history and create a magnificent residence in the heart of Greenwich Village’s historic district.
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