L+M, Red Rooster snag NBA-owned Harlem building

Soul food restaurant sits on ground floor of 25K sf office property

TRD New York /
Apr.April 25, 2016 06:00 PM

L+M Development Partners and a co-owner of Red Rooster Harlem shelled out $21 million for the soul food restaurant’s home — a three-story office building owned by the National Basketball Players Association.

Red Rooster Harlem occupies part of the ground floor at the 24,600-square-foot property, located at 310 Lenox Avenue between West 125th and 126th streets.

L+M and another company, Chapman Consulting, purchased the building for $21 million, according to property records filed with the city last week. The soul food restaurant is co-owned by Chef Marcus Samuelsson and Andrew Chapman. Chapman is a partner at his family’s real estate investment firm, which appears to be the co-buyer.

The Commercial Observer was the first to report that Red Rooster purchased the building, but didn’t mention L+M’s role in the deal.

L+M was listed as an LLC with the same address as the development company, and CEO Ron Moelis’ name appeared on the deed. Calls to Red Rooster seeking additional information on plans for the property were not immediately returned. A spokesman for L+M would only confirm that the developer bought the building with another investor.

News surfaced in September that the NBA players’ union planned to trade its Harlem headquarters for a bigger space at the Durst Organization’s 1133 Sixth Avenue. The organization signed a 47,000-square-foot lease for more than 21 years at the Midtown building.


Related Articles

arrow_forward_ios
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork’s side businesses are fizzling

Join The Real Deal at its sixth annual Miami Showcase & Forum this week

London real estate at the heart of mysterious Vatican scandal

From left: Governor Andrew Cuomo, Mayor Bill de Blasio, and Tax Equity's Martha Stark (Credit: Getty Images and NYU Wagner)

NYC’s bid to kill property-tax lawsuit back in court

The Daily Digest - Tuesday

Brookfield kicks off 666 Fifth rehab, Jeffrey Epstein’s manse could soon hit market: Daily digest

Is history repeating itself for Steve Croman and his renters?

arrow_forward_ios