Suzuki Capital, the new owner of the former police station-turned-LGBTQ youth group home at 327 East 22nd Street in Gramercy has filed an application for a demolition permit, the Commercial Observer reports. The building, which has stood at the site in 1863, will be replaced with what Sam Suzuki, the CEO of Suzuki, referred to as a "boutique condo buyers will find appealing." Sounds like a real solid business plan.
Suzuki bought the building in April for $11.5 million and also purchased 7,000 square feet of addition air rights. The new building will be seven stories tall (the existing one is four) with only ten units — two- and three-bedrooms between 1,200 and 2,200 square feet. The two ground-floor units will have access to private backyards and Suzuki has intimated that the penthouse may come with a private swimming pool. The building is expected to be completed in fall of 2015.
Currently, the interior walls of the soon-to-be-demolished building are filled with pop art that Suzuki solicited from 55 different artists. He is hosting a show that's opening tomorrow evening, which he is referring to as "the largest pop art show since the 1980s with Keith Haring and Andy Warhol." Yes, if only Warhol and Haring were around to see a bunch of paintings on the walls of a building that's about to be demolished to make way for ten apartments for millionaires.
· Suzuki Seeks Demo Permit at Old Gramercy Police Station [Commercial Observer]
· Former Gramercy Police Station Being Converted to Condos [Curbed]