Unfortunately, the Ambler Cabaret was before my time. I’ve heard so many stories of great bands who played there and good times a plenty over the years. As I’m sure you know, the Cabaret closed over 20 years ago and has been out of commission since. It changed hands last summer for the bargain price of $151,250. That price was not only for the cabaret space, but included 5 apartments, as well as 5 additional office spaces on the second and third floors. The sale was private and rather shocking considering Ambler values, even despite the poor condition. As of today, the property has been listed for sale at a mere $1,150,000. Pretty quick potential return on an investment, I’d say. According to the MLS listing, “the 5 apartments are clean and very close to having a U&O.” There could be potential for the office spaces to be converted into additional apartments, and the cabaret space needs complete renovation. Hmmmm, will be interesting to see what happens…
UPDATE, April 7, 2015
After being on the market for 345 days, the price of 57 E Butler has been reduced to $799,900.
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