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Harlem

Harlem
New York, NY 10027
Retail, Residential, Leasing/Rental, Multifamily

Harlem is a neighborhood in upper Manhattan, bounded by Central Park, Fifth Avenue, 155th Street, and the Hudson River, and sometimes described using the shorthand uptown. Subsections of the neighborhood include Morningside Heights, Manhattanville, Hamilton Heights, Central Harlem, and East Harlem. In the last 100 years, Harlem has functioned as a major center of African-American culture. However, land prices and rents in Harlem have risen in tandem with the rest of New York City since the financial crisis, contributing to the neighborhood ñturning overî, as longtime residents who cannot afford it move away and wealthier New Yorkers move in. Columbia University is building a 17-acre satellite campus in the post-industrial Manhattanville subsection of Harlem, scheduled for completion in 2016. New developments in Harlem include The Adeline, One Morningside Park on 110th Street, and Uptown 58 on 129th Street. Specialty and organic food purveyor Whole Foods is scheduled to open a grocery store on 125th Street and Lenox Avenue in 2016. -TA

  • Address Harlem
  • neighborhood Harlem
  • borough Manhattan
  • Event Financing
  • Address Harlem, Morningside Portfolio
  • Neighborhood Morningside
  • Borough Manhattan
  • Price $ 30,400,000
notes
The 15-property portfolio secured a $30.4 million loan.
  • Event Financing
  • Address Harlem River Yards
  • Neighborhood Bronx
  • Borough Bronx
  • Price $ 100,000,000
  • Publication Date 12/01/2016
  • Event Date 10/15/2016
  • Party 1 Bank of America
  • Party 2 Galesi Group
notes
The company secured a $100 million loan for the site.
  • Event Financing
  • Address 1399 Park Avenue in Harlem
  • Neighborhood Harlem
  • Borough Manhattan
  • Square feet 19,000
  • Price $ 60,000,000
  • Publication Date 05/01/2016
  • Event Date 03/17/2016
  • Party 1 Heritage Real Estate Partners
  • Party 2 Madison Realty Capital
notes
The company secured a $60 million loan.
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Harlem
  • Borough Manhattan
  • Square feet 125,000
  • Price $ 58,000,000
  • Price per foot $ 464.00
notes
The 13-building Harlem portfolio sold for $58 million.
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 29,000,000
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 11,250,000
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 6,750,000
  • Publication Date 10/01/2012
  • Event Date 08/17/2012
  • Party 1 Broker Shoy McKen
  • Party 2 Brokerage Besen & Associates
  • Party 2 Broker Orly Hazan
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 18,400,000
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 10,300,000
  • Event Sales
  • Address East Harlem portfolio
  • Borough Manhattan
  • Price $ 26,900,000
notes
The affordable housing portfolio sold for $26.9 million. Known as Met Paca I and Met Paca II, the buildings operate under a Section 8 rent subsidy contract with the U.S. Department of Housing and Urban Development. The new owner plans to continue to maintain the portfolio as affordable housing.
  • Event Sales
  • Address East Harlem portfolio
  • Borough Manhattan
  • Price $ 12,500,000
  • Price per foot $ 100,000.00
  • Publication Date 05/01/2009
  • Event Date 03/22/2009
  • Party 1 Security Properties
  • Party 1 Brokerage Massey Knakal Realty Services
  • Party 2 Latham Properties
notes
The package of rent-stabilized apartment buildings at 169-175 East 101st Street sold for $12.5 million, or around $100,000 per unit. The buyer reportedly purchased the buildings as an investment, and does not plan to move tenants out to increase rents. One of the sellers, Praedium Group, gave a $2 million mortgage to the buyer.
  • Event Sales
  • Address Central Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 15,000,000
  • Event Sales
  • Address Harlem Portfolio
  • Borough Manhattan
  • Square feet 189,000
  • Price $ 53,750,000
  • Price per foot $ 284.39
notes
The properties, which include 204 rental units and 31 commercial units, sold for $53.75 million. Five of the eight properties are on the 2200-2400 blocks of Adam Clayton Powell Boulevard.
  • Event Financing
  • Address East Harlem
  • Neighborhood East Harlem
  • Borough Manhattan
  • Publication Date 08/01/2007
  • Event Date 06/22/2007
  • Party 2 Community Preservation
notes
A $3.74 million loan was provided for the new construction of an elevator condo building. seven-story,12-unit condo.
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 50,000,000
  • Publication Date 08/01/2007
  • Event Date 06/17/2007
  • Party 1 MPL LLC
  • Party 1 Brokerage Giscombe Henderson
  • Party 1 Broker Eugene Giscombe, Jeffrey Schettino
  • Party 2 Sigfeld Group
  • Party 2 Brokerage Eliot Jordan Enterprise
  • Party 2 Broker Pier Robinson
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 3,500,000
  • Event Sales
  • Address Harlem and Inwood portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 34,000,000
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 940,000,000
  • Publication Date 06/01/2007
  • Event Date 04/17/2007
  • Party 1 Cammeby's International Group
  • Party 2 Urban American Management, City Investment Fund
  • Event Sales
  • Address Harlem and East Village portfolio
  • Borough Manhattan
  • Price $ 225,000,000
  • Publication Date 05/01/2007
  • Event Date 03/22/2007
  • Party 2 Dawnay, Day Group
notes
The London-based financial and property group bought 47 buildings in East Harlem and seven condo units in the East Village for $225 million, 13 times the gross rent roll. The Harlem properties are located between East 100th and East 120th streets, and the portfolio also includes 58 commercial units.
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 11,700,000
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 8,500,000
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 25,400,000
  • Event Sales
  • Address Harlem
  • Borough Manhattan
  • Price $ 41,000,000
notes
Portfolio containing 298 multifamily residential units and 19 stores sold for $41 million.
  • Event Sales
  • Address Harlem and Upper West Side
  • Borough Manhattan
  • Price $ 500,000,000
  • Publication Date 10/01/2005
  • Event Date 08/22/2005
  • Party 1 Baruch Singer
  • Party 1 Brokerage Georgia Malone & Company
  • Party 2 JV of Pinnacle Group, Praedium Fund
notes
2,900 units sold for $500 million in off-market deal.

01/08/2018
Rendering of 399 Sands Street (Credit: Steiner NYC) A massive mixed-use project coming to East Harlem courtesy of the Richman Group was the biggest project Rendering of 399 Sands Street (Credit: Steiner NYC) A massive mixed-use project coming to East Harlem courtesy of the Richman Group was the biggest project...

01/01/2018
“A lot of people are coming from the city â€' all parts of the city,” she said. “It used to just be Harlem and Upper Manhattan...

12/29/2017
10) S9 Architecture | Number of projects: 4 | Total sf: 737,000 In early December, the Richmond Group filed plans for 201 East 125th Street in East Harlem...

12/29/2017
6) 201 East 125th Street, Manhattan Earlier this month, the Richman Group filed plans for a 19-story apartment building in East Harlem...

06/08/2017
With apparel retailers feeling the squeeze from online competition, grocers, food halls and restaurant tenants accounted for five of the 10 biggest retail deals inked in the With apparel retailers feeling the squeeze from online competition, grocers, food halls and restaurant tenants accounted for five of the 10 biggest retail deals inked in the...

04/01/2017
And like most New York City neighborhoods, East Harlem is in perpetual transition â€' evidenced by the half-built condominiums wedged between brownstones on Langston Hughes’ old block, the luxury rentals expanding above the 96th Street border and the specialty coffee shops sweeping eastward towards Fifth Avenue...

02/24/2017
Elliman had a nearly-identical drop in new business, picking up just $2 billion in exclusives. Compass, which picked up over $1.5 billion in exclusives in 2015, landed only one approved Manhattan project in 2016, Magnum Real Estate Group’s 196 Orchard Street. CORE’s haul fell to just one small Harlem project, and Town Residential, recently taken off Madison Equities, Building and Land Technology and Thor Equities’ 212 Fifth Avenue, did not pick up a single Manhattan project in 2016...

12/01/2016
Over the five-year period, the most active acquirer was Harlem-based Sugar Hill...

10/06/2016
In September, more than half of the 2,218 units approved came from just three projects. Sheldon Solow’s 550-unit rental and condo project at 685 First Avenue was the largest among them. Artimus Construction’s 380-unit project in Jamaica, Queens and Blumenfeld Group’s Bjarke Ingels’-designed 146 East 126th Street project in Harlem, with 233 units, were the next two biggest projects to move forward with approved plans last month...

07/01/2016
The other three owners in the top five â€' Blackstone, Cammeby’s and A&E â€' operate almost exclusively through acquisitions rather than development. Part Silicon Valley investor, part New York real estate scion, A&E has quickly become the city’s fifth-largest landlord through multiple portfolio purchases in recent years. In 2015 alone, the company acquired $800 million in New York rental properties, including the $201 million Riverton Houses complex in Harlem in a deal brokered with the city...

01/12/2016
Williamsburg was 2015’s top NYC neighborhood for applications, with developers applying for more than 1,100 units through November. Still, other neighborhoods are also on the ascent. A recent report from listings website StreetEasy found that Upper Manhattan saw the highest rate of median sales prices increases in NYC in the last year, with a 20.5 percent jump. “What we have is a perfect storm of low inventory and high demand,” said Beth Gittelman, head of sales at Harlem-based Bohemia Realty...

01/08/2016
Source: TRD analysis of DOB permit applications of at least 15,000 square feet The median price for a Manhattan apartment just hit $1.15 million for the Source: TRD analysis of DOB permit applications of at least 15,000 square feet The median price for a Manhattan apartment just hit $1.15 million for the...

12/17/2015
A&E is now buying the affordable housing complex known as Riverton Houses in Harlem, a $201 million deal with the complex’s current manager, CW Capital...

12/01/2015
The firm, which launched in 2012, is based out of an office on Frederick Douglass Boulevard at 113th Street in Harlem...

09/02/2015
By unit count, the Bronx continued what is now a sustained filing spurt with the most units planned during Augustâ€'1,166â€'and five buildings counting more than 100 units. The largest of those, Cheskel Schwimmer’s 352,000-square-foot, 435-unit application for 198 East 135th Street, will rise on the banks of the Harlem River in the South Bronx...

08/04/2015
The South Bronx market in particular is changing quickly, and noted developer Joseph Chetrit now owns five acres along the Harlem River, where he and Somerset Partners plan to embark on a market-rate residential project that could include six towers and span as much as 1.2 million square feet...

06/01/2015
While most of its spaces are in Midtown or Downtown, Regus is also expanding to Harlem, said Maria Paitchel, regional vice president overseeing the company’s New York market...

04/01/2015
Projects in the works now at DHA include a 280-unit rental building at 535 West 43rd Street, a 200-unit rental property at 64-75 125th Street in Harlem and 12 East 13th Street, a condo conversion of a former parking garage in Greenwich Village, with a penthouse asking $30.5 million...

01/02/2015
The fourth-most-active building on the list was 2254 Fifth Avenue, owned by Irving Langer’s E&M Associates. The six-story walk-up in Central Harlem, between 137th and 138th streets, has 16 units...

12/01/2014
The company has for years had a strong presence in Soho, the Meatpacking District and Harlem, and broadened its presence in all three...

09/01/2014
From left: the $118.5M penthouse listing at the Ritz Carlton, Israel Englander and his co-op at 740 Park Avenue This year may not be over From left: the $118.5M penthouse listing at the Ritz Carlton, Israel Englander and his co-op at 740 Park Avenue This year may not be over...

05/01/2014
Other notable owners on the top 20 list include Sitt Asset Management, which owns 2 Herald Square, with tenants including H&M and Victoria’s Secret. That space brings in about $24 million per year for its owners. In addition, Forest City Ratner’s East River Plaza, a 527,000-square-foot mall in East Harlem, brings in just over $21 million per year...

02/01/2014
These investors largely did not make the returns they hoped for. At Harlem’s 1,802-unit Savoy Park apartment complex, which Vantage purchased in 2006 for $175 million, the developer spent four years digging out from under its debt before selling the complex for $210 million in 2012...

11/01/2013
According to StreetEasy’s data, Elliman had the biggest share of the pie in Central Harlem last month with 19 percent of listings, including a $4.2 million townhouse at 235-237 West 120th Street, but Halstead was hot on its tail with 13 percent...

05/01/2013
That’s a significant change from the downturn. In 2009, Warburg shuttered two of its offices â€' at 2235 Frederick Douglass Boulevard in Harlem and at 65 West 13th Street...

...The dollar volume for single-family sales in East Harlem doubled in 2016 to $112 million from $56 million in 2015. Median home price and rental prices have...

...purchase of the Riverton housing complex in Central Harlem for $201 million. The deal included nearly 1,000 affordable housing units. View the full report here...

...square foot in 2004 to $1,015 in 2014. Rates in Central Harlem rose 102 percent from $351 per square foot to $709 during this period. Read the full story...

...from the previous month to 8,663 units in July. Harlem had the greatest year-over-year growth, with average rents up 17.9 percent to $2,757. View the full...

...from February to $3,899 in March.  Rental prices in Harlem were up 17.7 percent year-over-year, the greatest price jump in the borough. View the full...

...percent and two-bedroom doorman apartments, which fell 3.7 percent. Harlem had the greatest year-over-year price increases. Rental prices in the neighborhood were up 8.5 percent...

...borough’s most significant growth was seen in Harlem, where rent prices for studios, one-bedroom and two-bedroom apartments rose 21.6 percent, 14 percent and 9.1 percent...