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 

TRD 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

WeWork IPO pushed back, Manhattan DA subpoenas Trump Org taxes: Daily digest

From left: Jeff Sutton, Brookfield's Ric Clark, and Apollo's Leon Black with the Crown Building

Apollo to provide $800M loan for Crown Building

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

The Crown Building and Jeff Sutton

Crown Building retail owners in talks with Natixis, Apollo, for $900M refi

Jeff Sutton and 747 Madison (Credit: Google Maps)

Jeff Sutton lands $90M refi for Madison Ave Gold Coast property

31-33 West 110th Street

A Harlem prison with Central Park views is closing down — and developers are ready

Westchester & Fairfield Cheat Sheet: Greenwich developer dives into Opportunity Zones, Time Equities pays $14M for Bridgeport building… & more

Another tenant from last year’s Harlem fire is suing the landlord

arrow_forward_ios