East Harlem’s landmark Corn Exchange Building slated for redevelopment

New York /
Mar.March 23, 2011 01:35 PM

The New York City Economic Development Corporation has begun accepting bids for the redevelopment of East Harlem’s Corn Exchange Building, a city landmark. The EDC said it’s aiming for a developer to either purchase or take out a ground lease on the building, which sits on 4,500 square feet and is zoned for residential or commercial use. The building, which sits on the corner of Park Avenue and 125th Street, was once six stories tall, but deteriorated due to decay and neglect. Early last year, the Department of Buildings ordered that the upper floors be removed due to safety concerns. “After years of seeking to regain control of the underutilized Corn Exchange Building, [the EDC] is proud to be taking this important step in the redevelopment of this neighborhood landmark,” said Seth Pinsky, president of the EDC. It was not immediately clear how much the purchase of the site or ground lease would cost. TRD


Related Articles

arrow_forward_ios
Renderings of 1223 Spofford Avenue, Bronx, 153-10 88th Avenue, Queens and 1201 Spofford Avenue, Bronx (iStock, NYC Economic Development Corporation, Zara Realty)
The top 10 biggest real estate projects coming to NYC
The top 10 biggest real estate projects coming to NYC
Economic Development Corporation CEO James Patchett (Getty; iStock)
EDC’s $58M in Times Square rent mostly sunk into ferries
EDC’s $58M in Times Square rent mostly sunk into ferries
Congresswoman Nydia Velázquez, Congressman Jerry Nadler and Council Member Carlos Menchaca (Credit: Getty Images, Google Maps)
Pols pounce as city caves in on Sunset Park property
Pols pounce as city caves in on Sunset Park property
Liberty View Plaza at 850 3rd Avenue and Marvin Schein (inset) (Photo by Axel Dupeux)
City lets industrial landlord off the hook in Sunset Park
City lets industrial landlord off the hook in Sunset Park
Alexandria Ocasio-Cortez and Sunnyside Yard (Credit: Getty Images, iStock, and SunnySideYard)
Progressives opposing Queens development target AOC
Progressives opposing Queens development target AOC
Michael Bloomberg (Credit: Getty Images, iStock)
Love, hate, and real estate: Bloomberg’s record may polarize voters
Love, hate, and real estate: Bloomberg’s record may polarize voters
Lights, camera, development: City issues RFP for film studio in Sunset Park
Lights, camera, development: City issues RFP for film studio in Sunset Park
Lights, camera, development: City issues RFP for film studio in Sunset Park
Marisa Lago and East Harlem (Photo Credit: NYC.gov and iStock)
EDC has spent half of its $700M rezoning fund money on just four neighborhoods
EDC has spent half of its $700M rezoning fund money on just four neighborhoods
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...