The Real Deal New York

General Growth leaves East Harlem project

Developer General Growth Properties, which filed for bankruptcy in April, has backed out of the East Harlem Media Entertainment and Cultural Center, a 1.7 million-square-foot retail and residential complex proposed for East 125th Street. The other partners plan to continue with the project and will find a different retail partner or do the retail development on their own, said Stephen Hayes of project manager the Carey Group. A group of local property owners filed suit in state Appellate Court this month against the project, which will include 600 apartments for moderate and middle-income families. The property owners argued that the project has limited public benefits because it is being built by a private developer.

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