A&P has asked the court overseeing its bankruptcy case to approve a $4 million sale of its landmark “Bridgemarket” store in Manhattan.
Court papers identify the buyer as “Bridgemarket D2D,” a New York limited liability company. That group appears to be affiliated with Jenel Management Corp., New York, a real estate company known for investing in undervalued urban properties.
An attorney representing the buyer reached by SN declined to discuss details of the proposed deal.
The Bridgemarket, a 35,000-square-foot store built beneath the 59th Street Bridge in Manhattan, was the only remaining former Food Emporium site not to have sold during A&P’s auction of stores held this fall. The store is noted for ornate arched ceilings created by famed Spanish designer Rafael Gustavino in 1914 but has long struggled as a retail hub.
A&P opened the store under the Food Emporium banner in 1999 after years of predevelopment dating to before A&P's purchase of that chain in 1986. The site was originally a farmer’s market but went unused for decades.
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