The Real Deal New York

Big Harlem ground lease hits the market

Site across 125th Street from the Apollo Theater has 109K buildable square feet
September 10, 2014 06:00PM

The owner of a Harlem building is looking for a partner to develop a mixed-use property on the rapidly changing West 125th Street.

Ariel Property Advisors has been tapped to market the long-term ground lease for a block-through site at 256-258 West 125th Street and 243-249 West 124th Street, GlobeSt reported. The site, located across the street from the Apollo Theater, has up to 108,994 buildable square feet with 100 feet of Frontage On West 124th Street and 50 feet of storefront on West 125th, according to the website.

Ariel’s Shimon Shkury, Victor Sozio Michael Tortorici and Josh Berkowitz are the exclusive agents. [GlobeSt]Tom DiChristopher