ABS tapped to sell Harlem development site.
The site is approximately 15,780 s/f and falls under the new proposed River To River rezoning of C6-3 and C4-4D, allowing 89,827 s/f to be built, expandable to 119,769 s/f as a housing bonus for community use. The site has 50 feet of frontage on East 125th Street, 140 feet of frontage on East 124th Street and 63 feet of frontage on Park Avenue. The site occupies most of the eastern block front of Park Avenue and is opposite the western block front, which is being developed by a major real estate investment trust. Additionally, the site is two blocks from North General Hospital and next to the 125th Street Metro North Station with just one stop to Grand Central Station as well as the 4 & 5 train with three stops to Grand Central Station.
The site can be expanded through the acquisition of contiguous lots to a 164,995 s/f development site, (expandable to 219,993 s/f with the housing bonus) on a 28,308 s/f lot. The new site would have 140 feet of frontage on both East 125 and East 124th Street and run the entire eastern block front on Park Avenue.
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|Title Annotation:||ABS Partners Real Estate LLC|
|Publication:||Real Estate Weekly|
|Article Type:||Brief article|
|Date:||Nov 1, 2006|
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