Historic 86 Bedford St. Hits Market for $12.75M

New York Mixed-Use

February 6, 2017 Meridian Capital Staff Reporter, Bisnow

Since the 1920s, historic pub and former speakeasy Chumley's has hosted some of the most influential literary figures and activists within its walls at 86 Bedford St., including the likes of John Steinbeck, William Faulkner and E. E. Cummings. Today, a rare opportunity to own this historic landmarked asset — and play host to the next generation of New York City’s cultural movers and shakers — has come to market.

Courtesy of Meridian

Meridian Investment Sales’ David Schechtman, Lipa Lieberman, Abie Kassin and Paul Patafio have listed the three-story, mixed-use building in the West Village for $12.75M. This landmarked iconic West Village property is home to the legendary Chumley’s Restaurant and a world-class turnkey luxury townhome. The building affords an investor the unique flexibility to occupy or rent the residential portion while collecting reliable cash flow from one of Manhattan’s most exclusive restaurants.

After an extensive, ground-up reconstruction that concluded in October 2016, 86 Bedford St. is remarkable in that it comprises both Chumley’s — a two-star New York Times-reviewed reservation-only restaurant operated by Alessandro Borgognone of Sushi Nakazawa fame — and a two-story, custom-designed townhouse that has never been occupied.

Courtesy of Meridian

The brand-new, state-of-the-art townhouse includes towering 12-foot ceiling heights throughout most of the spacious unit. The two-bedroom, two and a half bathroom residence includes a private entrance, ultra-luxurious finishes throughout, including a wood-burning fireplace, a private outdoor terrace, a washer and dryer, a bedroom with skylights and ceilings as high as 18 feet, and oversized windows overlooking every direction. The home is punctuated with designer stone, including Thassos, Celeste, Bianco Namibia, Calcutta Gold and Botticino Fiorito marble slabs and Duravit, Watermark, Elkay and Waterworks fixtures. Additionally, the chef’s kitchen boasts Viking, Sub-Zero, Miele and Wolf appliances and custom cabinetry.

Courtesy of Meridian

“Investors would be hard-pressed to find a similar opportunity elsewhere in Manhattan,” said Schechtman, senior executive managing director for Meridian Investment Sales. “In addition to being delivered an immaculate, move-in ready townhome with world-class appointments in one of the most sought-after neighborhoods in New York City, investors will receive the benefit of rental proceeds from Chumley’s for years to come.”

Courtesy of Meridian

Located in an accessible neighborhood distinctive for its townhomes, boutique shops and tree-lined streets, 86 Bedford St. is reflective of the overall West Village — a prominent landmark for American bohemian culture and only steps away from historic landmarks like The Cherry Lane Theater, Stonewall Inn, High Line and the Whitney Museum of American Art as well as the nearby Hudson River Park.

Courtesy of Meridian

“Today, the West Village remains an architectural and cultural oasis and this property reflects these sensibilities while providing future residents with modern amenities,” Schechtman said. “Given the unparalleled provenance of 86 Bedford St., we expect significant interest from investors looking to capture a piece of our city’s history.”