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New York

Projects delayed, canceled on 125th Street

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At least 14 projects
along 10 blocks of East and West 125th Street have been delayed or canceled. The
dormant development sites have doubled the retail vacancy rate along
one five-block section of the strip to 16 percent, according to Barbara
Askins, head of the 125th Street Business Improvement District. The 14 projects include the death of Harlem Park, a
proposed $435 million tower at Park Avenue that at one point was going
to include TV studios for the Major League Baseball Network. Lawsuits
have delayed at least three other projects, including turning the Corn
Exchange building into a culinary school, a $40 million office and
retail tower and a six acre entertainment and residential complex.