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Tough Times at 82 University Place (fka Cedar Tavern)

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We can't say we're surprised given the lack of life in the thing, but 82 University Place?formerly a beloved Central Village watering hole called Cedar Tavern and now a nine-story condo building that still makes us want to hit the bottle, albeit for different reasons?has been hit with a lis pendens by a lender. According to PropertyShark's records, Flushing Savings Bank would like its $7.5 million back, please, or else foreclosure could be in the building's future. StreetEasy shows just one $1.48 million unit in contract, and the ground-floor retail space is still looking for a suitor. Before you get any bright ideas, recall that the bar's guts got hauled off to Austin once the son of Cedar's longtime owner pushed ahead with the condo plan. Based on current trends, expect this to be a hipster trailer park in two to six months.
· 82 University Place [PropertyShark]
· 82 University Place coverage [Curbed]