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Old Posted Apr 7, 2015, 2:34 AM
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chris08876 chris08876 is offline
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Join Date: Jul 2013
Location: New Jersey - Somerset County
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Smile NEW YORK | 2 Pike Street | FT | 13 FLOORS

Project: 2 Pike Street



Quote:
Another Manhattan gas station has bitten the dust.

A former ExxonMobil site at 2 Pike St. in Chinatown has sold to a developer with plans to build an office building, the Daily News has learned.

Developer Shing Wah Yeung of Yeung Real Estate Development paid $18.75 million for the development site, on the corner of Pike St. and E. Broadway.

Commercial brokerage CBRE represented Exxon in the deal.

Yeung said he’ll raze the site this summer and hopes to build a 13-story, 70,000-square-foot tower with office condos, ground-floor retail, underground parking, a restaurant and a community space. The building, designed by Studio C Architects, would be completed by 2017.

Office condos, which are purchased rather than rented, are not as common as they once were but remain popular in Chinatown, since Asian culture favors ownership, Yeung said.
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