Developers and retailers flocking to Harlem’s 125th Street

Famed thoroughfare booming with projects drawn up by high-profile property firms

New York /
Dec.December 15, 2014 10:19 AM

Developers and retailers are zeroing in on Harlem’s 125th Street.

Greystone & Co. picked up an $11.5 million property through a bankruptcy auction. The firm plans to build an apartment building on the site. Ian Bruce Eichner’s Continuum is working on a 700-apartment development across the street that will include 80,000 square feet of retail space. Jeff Sutton is also involved in a project in the area, which will include a Whole Foods Market. Earlier this year, Extell Development  bought a site in the neighborhood that’s currently occupied by a Pathmark supermarket. These projects, as reported by the Wall Street Journal, underscore the rising popularity of the thoroughfare.

The trend was set in motion after Harlem USA, a retail complex at 125th Street and Frederick Douglass Boulevard, opened in 2000, according to the newspaper. And ever since the recession ended, developers are once more looking at 125th Street.

With the addition of all the retail stores — including the anticipated Whole Foods set to open in 2016 — the perception of Retail On 125th Street has changed, according to the newspaper. [WSJ] Claire Moses


Related Articles

arrow_forward_ios
A photo illustration of the Broadway Spanish Baptist Church (Google Maps, Getty Images)
Harlem church seeks state approval for redevelopment plans
Harlem church seeks state approval for redevelopment plans
Jeff Sutton and 2088 East 3rd Street in Gravesend (Google Maps)
Jeff Sutton buys Gravesend home from Chera family for $14M
Jeff Sutton buys Gravesend home from Chera family for $14M
Ian Bruce Eichner with 960 Franklin Avenue (960 Franklin)
Bruce Eichner out of Crown Heights project; owner to go it alone
Bruce Eichner out of Crown Heights project; owner to go it alone
E&M Management founder Irving Langer (E&M, Legal Services NYC, iStock)
Burned-out tenants put heat on E&M’s Irving Langer
Burned-out tenants put heat on E&M’s Irving Langer
From left: Mayor Eric Adams, Councilmember Kristin Richardson Jordan, and developer Bruce Teitelbaum (Getty Images, iStock/Photo Illustration by Steven Dilakian for The Real Deal)
Housing suffers crushing defeat as mayor, speaker do nothing
Housing suffers crushing defeat as mayor, speaker do nothing
From left: Bruce Teitelbaum and Kristin Richardson Jordan along with a rendering of One45 (Getty Images, One45, iStock)
Harlem affordable resi project withdrawn, appears dead
Harlem affordable resi project withdrawn, appears dead
Neil Patrick Harris and David Burtka in front of 2036 Fifth Avenue (Getty Images, Google Maps)
Neil Patrick Harris sells Harlem brownstone in neighborhood record
Neil Patrick Harris sells Harlem brownstone in neighborhood record
1552-1560 Broadway and Wharton Properties’ Jeff Sutton (Google Maps)
Investor claims Jeff Sutton cheated him out of millions on Times Square deal
Investor claims Jeff Sutton cheated him out of millions on Times Square deal
arrow_forward_ios

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

Loading...