Catsimatidis puts $5.9M East Harlem site on market

New York /
Aug.August 22, 2013 04:45 PM

Eastern Consolidated has taken on the marketing of a 30,000-square-foot East Harlem site owned by mayoral candidate John Catsimatidis, according to city records, in Harlem that is occupied by Rent-A-Center through 2015.

The 2202-2210 Third Avenue site, which Catsimatidis transferred to an entity identified as 2202 3rd Avenue LLC in 2000, now has a $5.9 million price tag.

“The neighborhood is burgeoning,” Adelaide Polsinelli, who is marketing the property along with Chad Sinsheimer, said in a prepared statement to the New York Observer. “The beauty of this acquisition is that the new owner will be collecting income while working on development plans. Rent-A-Center, the tenant in place, is currently providing a steady cash flow.”

The neighborhood has seen a flurry of activity as of late, with ABS Partners Real Estate closing on a $6.6 million sale of two development sites and rumors that Danny Meyer, set to open a new Shake Shack locale in Brooklyn’s Dumbo, also has an eye on the neighborhood as the site of his next restaurant. [NYO]Julie Strickland


Related Articles

arrow_forward_ios
Slate Property Group's Martin Nussbaum and a rendering of the project
Hakimian, Certes land $59M loan for East Harlem multifamily project
Hakimian, Certes land $59M loan for East Harlem multifamily project
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Emerald Equity siphoned security deposits at now-bankrupt buildings
Emerald Equity siphoned security deposits at now-bankrupt buildings
John Catsimatidis (Getty, iStock; Illustration by Kevin Rebong for The Real Deal)
Catsimatidis won’t switch parties to run for mayor
Catsimatidis won’t switch parties to run for mayor
Will Catsimatidis switch parties? (Getty)
Republican or Democrat? Catsimatidis picks his poison
Republican or Democrat? Catsimatidis picks his poison
John Catsimatidis (Getty)
John Catsimatidis wants to add three more rental towers in Coney Island
John Catsimatidis wants to add three more rental towers in Coney Island
Peter Hauspurg
Eastern Consolidated founder Peter Hauspurg dies
Eastern Consolidated founder Peter Hauspurg dies
Coffee Talk with John Catsimatidis
Catsimatidis: NYPD should have sent rioters to Rikers
Catsimatidis: NYPD should have sent rioters to Rikers
Billionaire grocer and developer John Catsimatidis is exploring a bid for the 2021 mayoral race. (Getty, iStock)
Maybe this time? Catsimatidis ponders another run for mayor
Maybe this time? Catsimatidis ponders another run for mayor
arrow_forward_ios

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

Loading...