While poking around the internet, we discovered that Crescent Lounge is for sale for $120,000. Many Astorians we know and love this place, located on Crescent Street just south of Broadway; I once had the largest and strongest gin & tonic ever there (it was made in a tall drinking glass, mostly gin, and served with a lemon). Crescent Lounge is a Third Space for many in Astoria.
From what we can tell, it’s the business for sale, not the building, since what’s being talked about is lease and rent; not to mention $120,000 is an unheard of price for a building in the heart of Astoria. Here are the sale details from the broker:
CURRENT LEASE DETAILS:
11/1/13 to 10/31/14 – $3,765/mo
11/1/14 to 10/31/15 – $3,953/mo
11/1/15 to 10/31/16 – $4,151/mo
RENT RENEWAL TERM
11/1/16 to 10/31/17 – $4,500/mo
11/1/17 to 10/31/18 – $4,800/mo
So tell us, Astorians—did you see this coming? What do you hope happens? Leave us a comment and let us know your thoughts on this!