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Former East Village home of drag restaurant Lucky Cheng’s seeks $26M

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The sale includes two properties in an L-shaped lot at First Avenue and 2nd Street

Courtesy of Google Maps

Two prime East Village properties—one of which was home to the iconic drag restaurant Lucky Cheng’s for several years—are now on the market, and together they’re asking $26 million, EV Grieve reports.

Together these low-slung buildings form an L-shaped lot at the intersection of First Avenue and 2nd Street. The pair of low-rises are separated by an apartment building at the corner of First Avenue and 2nd Street, but together the two properties offer 14,000 square feet of space, and further have 12,000 square feet of unused air rights.

This property last traded hands in February 2015 when development firm Carmar Development purchased the two building site for $9.6 million, property records reveal.

Before that the property had been owned for decades by the founder of Lucky Cheng’s, Hayne Suthon. She passed away in 2014 after battling cancer. Suthon had moved Lucky Cheng’s to Midtown in 2012, and subsequently became involved in a legal tussle with the owners of Pride & Joy BBQ, who were looking to open their establishment at the East Village property.

In March last year, Carmar (the new owner) was looking to divide up the two properties on the lot, but has now ultimately decided against it. The properties are located very close to Sara Roosevelt Park, and several iconic NYC establishments like Russ & Daughters and Katz’s Delicatessen.

The property on 2nd Street