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Rent Wars

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The on-the-market building at 86 East Fourth Street, asking $8.95 million, has found a buyer, and it's not looking good for the building's tenants. One of them tells EV Grieve: "I, along with the rest of the building tenants, received building sale notification letters under our doors one evening?.I?suspected that a building sale would bring a gut renovation or demolition of the building, as well. This now also appears to be right on target. The new owner and management are declining to offer new leases as current tenant leases expire." The current tenants in question don't seem too eager to move on, however. [EVG]