16 April 2010

Rainbow Cafe Status—Sold!


We in the preservation community were all pretty bummed in 2008 when the Sunset Park landmark Rainbow Cafe closed its doors.

For a while, it was listed for a cool $3.25 mil, and the broker handling the property crowed, "Ideal for Large Retail Chain, Bank, Fitness Center, Fast Food." Then the recession came, and it was no longer for sale, only for rent. Today, there's not even a "For Rent" sign in the window anymore.

That is because the joint has finally been—no, not rented—sold! According to Sunset Park Chronicled, "CPEX Real Estate released the news that the building at 3904 Fifth Ave. has been sold “to a local investor” for $1,650,000." That's not $3.25 mil, but it's not nothing. 

What will become of the landmark sign? I wait with trembling lip.

4 comments:

Ken Mac said...

is this a current shot? Oddly enough, I am heading out to 5th avenue to capture all I can, including this. If it's still there!

Brooks of Sheffield said...

Yes, that's a shot from last Wednesday.

Anonymous said...

All the signs were removed today by Paul Signs Inc. Brooklyn NY. They were still intact and not damaged when they took them away.

Anonymous said...

Had my wedding reception there 55 years ago. Still have the receipt.