Greystone planning 75 unit-project at 125th Street

Developer recently purchased the East Harlem sites for $11M

TRD New York /
Feb.February 04, 2015 11:23 AM

Greystone plans to construct two Harlem residential towers with a total of 75 rental units, according to property records filed with the city today. The Manhattan-based real estate investment and lending firm paid $11.5 million for four adjacent parcels at a bankruptcy auction late last year.

The permits call for two buildings at 69 East 125th Street with the tallest rising 12 stories and 120 feet. The buildings will include 57,488 square feet of residential space with a mix of market rate and affordable apartments and another 5,643 square feet of commercial space on the ground floor.

The north tower is set to include half and full-floor apartments and a duplex spanning the first and second stories. The south tower will have several apartments per floor.

“The 125th Street corridor is seeing interest from several large NYC developers, bringing an influx of new residential units by the hundreds, and retail and amenities that will benefit current and new neighborhood residents for years to come,” Jeffrey Simpson, head of Greystone Property Development, said in a statement. “We look forward to being a part of the exciting development of upper Manhattan.”

Greystone went into contract on the property in September and closed in December. In 2013, Bluestone Group purchased debt on the site from its bankrupt owner, Brooklyn-based Parade Place, as The Real Deal reported.

Kutnicki Bernstein Architects is the architect of record.


Related Articles

arrow_forward_ios
From left: 21 Montrose Avenue in Williamsburg, 1480 Amsterdam Avenue and 520 West 136 Street in West Harlem and 208-212 West 141st Street in North Harlem (Google Maps)

Week’s mid-market sales run gamut from $80 to $500 psf

Week’s mid-market sales run gamut from $80 to $500 psf
Gary Barnett and 149 East 124th Street (Credit: Google Maps)

Extell’s plan for East Harlem development site revealed

Extell’s plan for East Harlem development site revealed
Don Lemon and Tim Malone with their apartment at 2280 Frederick Douglass Boulevard 

CNN’s Don Lemon lists Harlem condo with fiancé broker Tim Malone

CNN’s Don Lemon lists Harlem condo with fiancé broker Tim Malone
2041 Adam Clayton Powell Junior Blvd in Harlem (Credit: Google Maps)

Rent-stabilized portfolio in Harlem trades for $118M

Rent-stabilized portfolio in Harlem trades for $118M
From left: The Blau and Berg Company's Karine Blanc, TD and Partners' Nana Duncan and Lemor Development Group's Kenneth Morrison (Credit: Blauberg, TD+Partners and Lemor)

Black developers say partnerships aren’t always equal

Black developers say partnerships aren’t always equal
Corcoran's Tim Malone

Brokers in cabs: An interview with Corcoran’s Tim Malone

Brokers in cabs: An interview with Corcoran’s Tim Malone
(Video by Adam Pogoff)

Brokers in cabs: An interview with Bohemia Realty Group’s Sarah Saltzberg

Brokers in cabs: An interview with Bohemia Realty Group’s Sarah Saltzberg
Gale Brewer proposes women’s jail at Lincoln Correctional Facility (Credit: Getty Images and iStock)

Gale Brewer wants to turn “prime, trophy real estate” into women’s jail

Gale Brewer wants to turn “prime, trophy real estate” into women’s jail
arrow_forward_ios

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

Loading...