Former Chelsea home of iconic gay restaurant trades hands for $12M
By JULIAN NAZAR
May 14, 2026
A development site in Chelsea that had been the longtime home of a famous restaurant for the LGBTQ+ community has just traded hands for a likely residential project.
The Upper West Side-based limited liability company LAR 156, LLC has offloaded 156-158 Seventh Ave. for $12.25 million to an LLC linked to the Long Island-based firm K&J Accounting, according to brokerage Judson CRE and public records. The site currently contains a pair of one-story retail buildings that span approximately 6,600 square feet overall.
The iconic gay bar Elmo previously occupied 156 Seventh Ave. for 25 years before closing its doors on March 13, while the tap room Craft + Carry, which operates six locations throughout the city, was at 158 Seventh Ave. Both buildings, located between West 19th and West 20th streets, are now vacant.
It appears that the buyer is planning a residential project at the site, although the property is also zoned for hotel, office, retail or community facility use.
Overall, a commercial project at the site could span around 22,100 square feet, while a residential project could span approximately 27,700 square feet.
Judson CRE’s Nicholas Judson and Stephen Gueye represented both parties in the deal. This acquisition represents a rare opportunity in the city given how few development sites remain available in Chelsea, according to their announcement.
Both the buyer and seller couldn’t be reached for comment.