The Real Deal New York

Janus scrambles to find tenants for $135M Harlem redev

December 06, 2013 12:16PM

Janus Property Company has struggled to secure any tenants for its $135 million redevelopment of the former Taystee Bakery in Harlem.

The conversion at 426-458 West 126th Street near Amsterdam Avenue would convert the site into CREATE@Harlem Green, a 300,000-square-foot mixed-use development including a hub for 10 to 30 businesses and nonprofits. Asking prices for leasing will average $45 per square foot. Construction is beginning in February in time for it to open in 2015.

Harlem Brewing Company is in talks to move into its production facility to the site from Sarasota Springs. Greenpoint Manufacturing and Design Center was close to signing a lease for 53,000 square feet, but could not agree to terms with the developer.

“We had one idea about how the project should go, and the lead partner had another idea,” Brian Coleman, president of the design center, told the New York Daily News.

Last year, Janus and Monadnock Construction jointly paid $3.43 million for the site, as The Real Deal reported. [NYDN]Mark Maurer