Scott Croce has picked up a couple of significant buildings in and around The Midway row houses on Delaware Avenue. Croce, doing business as Leo Strong LLC, closed on 475 Delaware Avenue last week.
The four-story, renaissance revival mansion is located directly next door to another one of Croce’s recent Midway acquisitions – 471 Delaware Avenue, which he purchased in 2016. Renovation work slated for that building (formerly Manny’s Restaurant) has been granted preservation approval, prompting Croce to issue an RFP for contractors – bids are due in early May. Office space is designated for the first three floors, along with a fourth floor residential unit.
475 Delaware Avenue currently houses a sole tenant that occupies most of the building – Feuerstein & Smith, LLP. The law firm will probably be downsizing to the first and second floors (negotiations are underway). Croce anticipates on building out two large residential units on the third and fourth floor respectively. See Zillow listing for some great interior images.
The purchase of 475 Delaware Avenue also comes on the heals of another of Croce’s recent purchases. Six months ago he acquired 2 Virginia Place, which features a quirky mansard roof. Croce says that he’s going to convert the two-story structure into a live-work space, where the dweller can pull right into the garage, while residing on the second floor. The pad is vacant at the moment, but Croce feels that when work is complete, the reconfiguration will be ideal for an employee at the Medical Campus.
Now that he is in possession of these new listings, Croce owns 50% of the corner. In 2013, he wrapped up a significant ‘new build’ mixed-use project at the former site of The Cloister (see here). Ever since that purchase, Croce has literally been eyeing the buildings across the street, and putting down offers as they come up on the market.