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

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

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
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
President Joe Biden (Getty, iStock)
Biden unveils his answer to high home prices
Biden unveils his answer to high home prices
Elad Group's Isaac Tshuva and1299 Third Avenue (Getty, Google Maps)
Elad picks up shovel-ready UES development site
Elad picks up shovel-ready UES development site
Mayor Eric Adams
Join Mayor Eric Adams at TRD’s NYC Real Estate Showcase + Forum
Join Mayor Eric Adams at TRD’s NYC Real Estate Showcase + Forum
100 Eleventh Avenue (iStock, Rhododendrites/CC BY-SA 4.0, via Wikimedia Commons, Illustration by Kevin Cifuentes for The Real Deal)
Lower-end listings dominate Manhattan’s luxury deals
Lower-end listings dominate Manhattan’s luxury deals
660 Fifth Avenue in Manhattan and Macquarie Group's Shemara Wikramanayake (Brookfield Properties, iStock, Macquarie Group, Illustration by Kevin Cifuentes for The Real Deal)
Brookfield signs first tenant at 660 Fifth Avenue
Brookfield signs first tenant at 660 Fifth Avenue
arrow_forward_ios

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

Loading...