DHA Capital close to nabbing land lease on 125th St.: source 

Deal would pave the way for 200-unit mixed-use building at 64-75 125th Street 

New York /
Mar.March 20, 2015 01:32 PM

Dan Hollander’s DHA Capital is close to signing a 99-year land lease for a handful of Properties On 125th Street in Harlem that will pave the way for a 200-unit rental building, The Real Deal has learned.

DHA is signing the lease with Harlem landlord the Fata Organization covering a handful of properties fronting 150 feet along the southern side of the street near Lenox Avenue, a source close to the deal said.

The developer’s proposed building, designed by GF55 Architects, would rise 15 stories and span 185,000 square feet, including several floors of retail.

DHA declined to comment, and Fata couldn’t be reached by press time.

Located near the corner of 125th Street and Lenox Avenue, the site sits amid a handful of projects that promise to transform the busy throughfare’s character in the next few years. Across Lenox, Jeff Sutton’s Wharton Properties is developing a five-story, 180,000 square-foot shopping center with Whole Foods taking 40,000 square feet.

On the opposite side of 125th Street, developers are expected to break ground on the long-stalled conversion of the Victoria Theater into a Renaissance Hotel by Marriott and a mixed-income, 200-unit rental tower the Lam Group is developing.

Three blocks to the east, Ian Bruce Eichner’s Continuum Company is working on the first phase of a 680-unit rental building. One block further down, Extell bought a site last year with 450,000 buildable square feet.


Related Articles

arrow_forward_ios
From left: Council member Kristin Richardson Jordan, developer Bruce Teitelbaum and a rendering of the planned One45 development (Getty Images, One45, iStock)
Council member calls 40% affordable project “slap in the face”
Council member calls 40% affordable project “slap in the face”
Bruce Teitelbaum, CEO of RPG, along with a rendering of One45 at 145th Street and Lenox Avenue (Getty Images, RPG, iStock)
With Sharpton out, developer scrambles to save massive Harlem project
With Sharpton out, developer scrambles to save massive Harlem project
Council member Kristin Richardson Jordan and New York City Department of City Planning's Dan Garodnick (Getty Images, One45, NYC.gov Department of City Planning, Illustration by Kevin Cifuentes for The Real Deal)
Harlem resi towers project heads to contentious Council vote
Harlem resi towers project heads to contentious Council vote
New York Lieutenant Gov Brian Benjamin (Getty)
Lt. Gov. Brian Benjamin resigns in real estate donor scandal
Lt. Gov. Brian Benjamin resigns in real estate donor scandal
New York Lieutenant Governor Brian Benjamin (Getty, iStock)
Lt. Gov. Brian Benjamin arrested in scandal involving real estate investor
Lt. Gov. Brian Benjamin arrested in scandal involving real estate investor
Arm & Hammer founder John Dwight and 32 Mount Morris Park W (Zillow, Public domain, via Wikimedia Commons)
Harlem townhouse fetches neighborhood record price
Harlem townhouse fetches neighborhood record price
Slate Property Group's David Schwartz and Martin Nussbaum, Lam Group's John Lam and rendering of Victoria Tower (Slate Property Group, Lam Group, Aufgang Architects, Apollo Theatre)
Lam Group scores $168M for Apollo Theater residential project
Lam Group scores $168M for Apollo Theater residential project
 Rachel Glazer and Steve Gold with Central park (Compass, Getty, iStock)
Agent’s departure leaves rival with exclusive at Circa Central Park
Agent’s departure leaves rival with exclusive at Circa Central Park
arrow_forward_ios

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

Loading...