A sex shop at 192 Seventh Avenue South will yield to a new five-story development by The Jackson Group.
The three-unit project, designed by SRA Architecture and Engineering, will have 1,600 (throbbing) square feet of commercial space and 4,850 (throbbing) square feet of residential, according to the plan exam application filed November 6th. The apartments will be two full-floor units and a duplex on the top floors.
The Jackson Group bought the property from Tilou Realty for $4.1 million in February, according to public records.
No demolition permits have been filed yet for the existing one-story building on the corner of West 11th Street. The tenant Fantasy World, which sells sex toys and adult videos, has a number of years left on its lease, The Real Deal reported.
“We hope to reposition that asset with a high-end, value-add tenant — something along the lines of Nespresso,” The Jackson Group’s Ike Chehebar told The Real Deal.
Looks like the building is already in a prime position; the site is across the street from the super-big-deal St. Vincent’s hospital conversion, also known as The Greenwich Lane.