Catsimatidis puts $5.9M East Harlem site on market

August 22, 2013 04:45PM

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