Harlem building fully leased.

125th Street Gateway Ventures, LLC and G.E. Grace & Company, Inc. jointly announced that The Gateway Building is 100% leased. The entire 15,000-SF 3rd floor was leased to the New York City Chapter of NYSARC (commonly known as AHRC New York City) to replace a facility now housed in West Midtown.

Located at the corner of Lexington Avenue and East 125th Street, the three-story, 39,000-SF Gateway building is the first substantial mixed-used development to be completed in East Harlem in many years. The balance of the building is occupied by Duane Reade and Seaman's Furniture.

Designed by architect Warren Gran, the Gateway Building features sleek glass-and- steel construction, with high ceilings and abundant natural light. The building adjoins the Lexington Avenue subway station, eight local and express bus lines and Metro North's 125th Street Station.

AHRC New York City is one of the largest consumer-based non-profit organizations in New York City, serving over 8,000 clients. AHRC New York City was represented by Brian Gell of Insignia/ESG.

Michael Dirzulaitis, principal in the Communecon Group and a partner in 125th Street Gateway Ventures LLC, said that: "despite Sept. 11 and the slowdown of New York's economy, we never doubted that the office space would lease because of the buildings' distinctive design and its crossroads location in a revitalizing community."

George Grace of G.E. Grace & Company, Inc., the broker who represented the owner in the transaction, stated "AHRC New York City can more effectively serve a regional clientele from this central location. He added that "the development's principals have in depth experience in meeting the real estate needs of not-for-profit organizations which gave added assurances to the tenant and facilitated lease negotiations."

Nina Demartini-Day, a principal of ddm development and services and of the Gateway development team added that: "attracting a tenant from Midtown speaks volumes about the positive changes that are rapidly occurring in the Harlem community. We see this as just the beginning, and plan to be a part of the area's continuing renaissance with the development of a 36,000-SF, Phase II building next door."

The Gateway Building is one of several new developments completed or planned on the East 125th Street corridor, comprising more than 200,000 SF of new commercial space giving momentum to Harlem's commercial revival.