Site of Donovan’s Pub for sale and pub likely to close
The site of Donovan’s Pub is up for sale for $3.2 million and its future as a business is up in the air, according to a real estate firm that is listing the property.
According to the ad, the buyer will be acquiring the property with two retail operations–a dress shop and Donovan’s. However, as part of the terms of the sale, the pub will be left vacant. The Times Newsweekly broke the story and reported that Joe Donovan, who is in his late 70s, is selling the property.
The ad for the property listed by Massey Knakal Realty Service is as follows:
The subject property is a prime corner retail building on Roosevelt Avenue and 58th Street between Queens Boulevard and Woodside Avenue in the heart of Woodside, Queens. The building is approximately 6,300 SF and consists of 2 retail units; the larger unit is 4,200 SF with 95’ of frontage on Roosevelt which will be delivered vacant (Donovan’s) and the second unit is 2,100 SF facing 58th Street currently leased to a dress shop with a lease expiration in October 2013 w/ a five year option with ~5% annual increases and responsible for 1/3 of tax increases above base year of 2008. There is also a total of ~15,309 build able SF and remaining air rights as-is of approx. 9,000 SF for a possible second & third floor add-ons. An ideal asset for a user, investor or developer.