NYC building that housed the Crocodile Lounge asks $5.5M

A real pizza history is now up for sale. Downtown Manhattans Crocodile Lounge a bar famously known for serving up free six-slice personal pizzas with the purchase of drinks (although the chefs making those pizzas openly asked for tips by shaking a jar in front of patrons faces) was one of those iconic

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A real “pizza” history is now up for sale.

Downtown Manhattan’s Crocodile Lounge — a bar famously known for serving up free six-slice personal pizzas with the purchase of drinks (although the chefs making those pizzas openly asked for tips by shaking a jar in front of patrons’ faces) — was one of those iconic city businesses that couldn’t weather the COVID-19 shutdowns of 2020.

It shut its doors that year after more than 10 years in business — and now, the building from which the no-frills bar operated is being listed for $5.5 million, The Post has learned.

Located at 325 E. 14th St. in the East Village, the mixed-use property houses four free-market apartments and one retail space. The entire retail footprint, including the basement, will be delivered vacant.

“The Mets would even come here — I mean, this building has a lot of history,” Adelaide Polsinelli, Vice Chairman of Compass, who holds the listing with Susan Wires of Compass, told The Post.

The apartments include full-floor, two-bedroom rental units. StreetEasy shows one apartment now up for grabs — a “large” one-bedroom asking $4,500 per month.

The property itself also benefits from the availability of air rights for future development, or to increase the number of residential units inside.

The Crocodile Lounge advertised free pizza on a daily basis, which was a lure for students and recent grads scraping to get by. Crocodile Lounge

A woman named Marie Perugini owns the building. She inherited it from her grandfather, who purchased it in 1932.

“She was raised here when her father ran the very popular restaurant in its time, IL Faro Italian,” Wires said. “As a child, she affectionately remembers many of their patrons, including [the novelist] Fanny Hurst, who taught her math.”

At the time the restaurant was running, it was simultaneously used as a banquet spot — frequented by the likes of Mayor Ed Koch, Andy Warhol and Woody Allen.

Anytime you bought a drink, you got a free personal pizza. Crocodile Lounge

The building dates to 1910 and was used as a private family home for James McCreery — one of the city’s wealthiest businessmen.

Later, it was converted and ran for four decades as a “theatrical boarding house.” Boarders included actors, actresses, writers, opera singers and vaudeville acrobats famous in their time when 14th Street was Manhattan’s Theater District. Other famous occupants were the outlaws Sundance Kid and his wife Etta Place.

“An expansive character laden empty space, houses echoes of history, romance, and former intrigue,” Perugini, the owner, told The Post in a statement. “Perhaps you can sense the presence of those who haven’t quite left. The purchase of this unique property is the foundation for a future that is alive & bright.”

A photo inside the now-shuttered Crocodile Lounge. Crocodile Lounge

The Crocodile Lounge was a beacon for students and recent college grads looking to have fun, and eat some dinner, on a shoestring budget — though it’s not to be confused with the Alligator Lounge in Brooklyn, which also had free pizza with the purchase of drinks.

This bar itself was named after the small space it occupied, which had been described as a place where crocodiles would need to squirm through for its narrowness.

Crocodile Lounge also had free Skee-Ball. Crocodile Lounge

Polsinelli says she’s hoping the new owner will bring a similar vibe — and hopefully that means more free pizzas to come.

Meanwhile, recently Comedy Cellar owner, Noam Dworman, landed a bargain, when he purchased a 50-year-old McDonald’s building for $7.3 million — what would usually be worth at least $20 million today.

“This is a lowest point in a 10-year-long real estate cycle. So it’s a really opportune time for someone who’s an entrepreneur or business owner to buy the building instead of leasing the space,” Polsinelli said.

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