38-42 Commerce Street

W. Greenwich Village   |   Bedford Street & Hudson Street

Building For Sale
$ 12,950,000
Ownership Income Property
Lot Size 52'9"x153'
Floors/Apts 4/8
Status Active
Real Estate Taxes [Per Annum] $ 136,620
Building Type Low-Rise
Building Size 52'9"x150'
Year Built 1915
ASF/ASM 15,205/1,413
Listing ID: 82606TH

Property Description

38-42 Commerce Street has an unique and wonderful place in Greenwich Village history. Commerce Street, aka Cherry Lane is an idyllic and scenic 2 blocks that curves west towards Barrow Street.

Located at 38 Commerce Street is the historic 179 seat Cherry Lane Theatre.
In 40-42 the newly renovated 60 seat Cherry Lane Studio theatre and 8 residential apartments. Residential rent roll provided upon request.
Considered a historic jewel of Greenwich Village, at nearly 100 years old, it is America's longest continuously running Off Broadway Theater. These 3 buildings are joined through common hallways and shared building mechanics.
The historic theaters will be delivered fully equipped and unencumbered by any contractual production arrangements. Both theaters are beautifully maintained and lovingly restored.

The magnificent history of 38 Commerce Street begins in 1817 with the original site of a farm. Where the farm silo once stood, a brewery was erected 1836 which then became a tobacco warehouse and later a box factory. Ultimately, Cherry Lane Theatre. In 1923, a group of theater artists led by Evelyn Vaughn, William Rainey, Reginald Travers & later, Edna St. Vincent Millay, commissioned famed scenic designer Cleon Throckmorton to convert the box factory into Cherry Lane Playhouse. It fueled some of the most ground-breaking experiments in the chronicles of the American Stage.

40 Commerce Street, hidden behind 42 was once a multi floor horse stable, and 42 a residential walk up.

Kenneth Carroad, along with a group of similar-minded neighbors joins forces to save 38-42 Commerce Street buildings from demolition in the early 1950s. Carroad then built and managed a restaurant in the 40-42 building. After dining hours the Cherry Lane Restaurant was a popular late night gay club in the 1960-1970s.

Where The Cherry Lane Restaurant once was is now the Studio Theatre, lobby, box office and restrooms. Having a unique place in history, many artists have called Cherry Lane home, both getting their start at Cherry Lane and having their shows open on its legendary stage. Notable artists and their work at CLT include Sam Shepard, Bea Arthur, Amiri Baraka, Gene Hackman, Kevin Bacon, Barbara Streisand, Jerry Stiller, Antoinette Nwandu, Tony Curtis, Lorraine Hansberry, Edward Albee, F. Scott Fitzgerald and Gertrude Stein to name but a few. Many artists and productions have graced the Cherry Lane stages, the future is bright and the time is right for a new owner to take over the reins from the current owner.

38-40 Commerce Street
3 Stories
Block & Lot 00584-0027
Tax Class 4
Lot 29'.9" x 75'.5"
Building 29'.92" x 75'.5"

42 Commerce Street
4 Stories
Block & Lot 00584-0026
Tax class 2B
Lot 23'.08" x 78'
Building 23' x 75
38-42 Commerce Street has an unique and wonderful place in Greenwich Village history. Commerce Street, aka Cherry Lane is an idyllic and scenic 2 blocks that curves west towards Barrow Street.

Located at 38 Commerce Street is the historic 179 seat Cherry Lane Theatre.
In 40-42 the newly renovated 60 seat Cherry Lane Studio theatre and 8 residential apartments. Residential rent roll provided upon request.
Considered a historic jewel of Greenwich Village, at nearly 100 years old, it is America's longest continuously running Off Broadway Theater. These 3 buildings are joined through common hallways and shared building mechanics.
The historic theaters will be delivered fully equipped and unencumbered by any contractual production arrangements. Both theaters are beautifully maintained and lovingly restored.

The magnificent history of 38 Commerce Street begins in 1817 with the original site of a farm. Where the farm silo once stood, a brewery was erected 1836 which then became a tobacco warehouse and later a box factory. Ultimately, Cherry Lane Theatre. In 1923, a group of theater artists led by Evelyn Vaughn, William Rainey, Reginald Travers & later, Edna St. Vincent Millay, commissioned famed scenic designer Cleon Throckmorton to convert the box factory into Cherry Lane Playhouse. It fueled some of the most ground-breaking experiments in the chronicles of the American Stage.

40 Commerce Street, hidden behind 42 was once a multi floor horse stable, and 42 a residential walk up.

Kenneth Carroad, along with a group of similar-minded neighbors joins forces to save 38-42 Commerce Street buildings from demolition in the early 1950s. Carroad then built and managed a restaurant in the 40-42 building. After dining hours the Cherry Lane Restaurant was a popular late night gay club in the 1960-1970s.

Where The Cherry Lane Restaurant once was is now the Studio Theatre, lobby, box office and restrooms. Having a unique place in history, many artists have called Cherry Lane home, both getting their start at Cherry Lane and having their shows open on its legendary stage. Notable artists and their work at CLT include Sam Shepard, Bea Arthur, Amiri Baraka, Gene Hackman, Kevin Bacon, Barbara Streisand, Jerry Stiller, Antoinette Nwandu, Tony Curtis, Lorraine Hansberry, Edward Albee, F. Scott Fitzgerald and Gertrude Stein to name but a few. Many artists and productions have graced the Cherry Lane stages, the future is bright and the time is right for a new owner to take over the reins from the current owner.

38-40 Commerce Street
3 Stories
Block & Lot 00584-0027
Tax Class 4
Lot 29'.9" x 75'.5"
Building 29'.92" x 75'.5"

42 Commerce Street
4 Stories
Block & Lot 00584-0026
Tax class 2B
Lot 23'.08" x 78'
Building 23' x 75

Listing Courtesy of Brown Harris Stevens Residential Sales LLC

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Apartment Features

A/C
Washer / Dryer Hookups
38-42 Commerce Street W. Greenwich Village New York NY 10014

Building Details [38-42 Commerce Street]

Ownership Income Property
Service Level Voice Intercom
Access Walk-up
Block/Lot 584/26
Building Size 52'9"x150'
Building Type Low-Rise
Year Built 1915
Floors/Apts 4/8
Lot Size 52'9"x153'

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Loan Amount

Klara Madlin

License

Licensed Real Estate Broker


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