The Real Deal New York

Harlem Lofts acquires local competitor, turns divisions into new firms

September 12, 2012 04:30PM
By Guelda Voien

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A townhouse at 764 Saint Nicholas Avenue, converted to condos by Harlem Lofts.

From the September issue: In a bid to become Harlem’s largest redeveloper of townhouses, real estate services firm Harlem Lofts has acquired a local competitor. Harlem Lofts last month hired Charlie Marcus, the developer of projects such as the 11-unit Ellington condo at 111 West 117th Street. Marcus will be offered an ownership stake in the Harlem Lofts redevelopment arm, which has been renamed Harlem Property Re+Development, explained Harlem Lofts president Robb Pair.

Pair said he and Marcus have long admired each other’s work. “I would go and spy on his projects, and he would spy on mine,” Pair said. [more]