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Thread: Harlem Residential Development

  1. #46

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    yes, this is the market --- it has to go - it is not really serving much purpose....116th needs more luxury development to counteract those nasty projects seen in the background.

    Great picture! You must live in the Renaissance!

  2. #47
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    The Livmore condos on what was a vacant lot on the NW corner at W. 115 St., revealed on curbed today:


    Harlem's Churchified Livmor Condos Revealed

    Wednesday, February 20, 2008, by Joey



    An old rumbling regarding the block of Frederick Douglass Boulevard between 115th and 116th Streets has finally been put to bed. Via an eagle-eyed Curbed tipster, we direct your attention to the website of Joy Construction, where the above rendering appears. Harlemites, meet your new neighbor, a 73-unit building at 2131 Frederick Douglass Boulevard called Livmor Condos. Hugo Subotovsky Architects has a little more info, including that the 12-story building will also house a 3,000-square-foot commercial space and a 17,500-square-foot church. Livmor will also have a roof deck and a gym, with expected completion in spring 2009. Not bad.

    · Hugo Subotovsky Architects [hugosuboarchitects.com]
    · Livmor Condos [Joy Construction Corporation]

  3. #48
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    One block south of that project ^ and on the east side of Frederick Douglass Boulevard (NE corner) will be the Savannah.

    From curbed:


    Revealed: Harlem Has Georgia On Its Mind



    Frederick Douglass may have been an abolitionist, but the boulevard named after him in Harlem is heading down to the South for some inspiration. At 2110 Frederick Douglass Boulevard, on the corner of 114th Street, a 38-unit "luxury apartment" building called the Savannah is scheduled for completion in 2009. A Curbed tipster told us that the above rendering appears on some signage at the corner, which is "right smack up against the Randolph Houses and across from the Gateway and Society café." The Savannah appears in the "our properties" section of the BRP Development website. This stretch of road is sure getting crazy, with the aforementioned Gateway and the recently revealed Livmor Condos right there, and the Delany Lofts and the rumored W Hotel nearby, among others. Harlem: Who knew?

  4. #49

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    still no word on the market moving away somewhere else to make room for luxury development? Fredrick Douglass Blvd is moving along quite nicely with some upscale condos and shops whereas 116th and Lenox has a Conway, Popeyes, and a dozen housing projects a block away.

    How about the empty lot on the SW corner of 116th and Lenox right next to the bodega -any news on that one?

  5. #50

  6. #51

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    The site is owned by the City and controlled by the city´s Department of Housing Preservation and Development.

    It is programmed for mixed-income (market rate and some subsidized I think) residential with street-level retail but I don´t know the specifics or the timeline.

  7. #52

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    Thanks!!! It's good to know that there will be a building filling in that spot... After that there are only about 3 more spots to fill in on 116th between 5th and Lenox...

    The small empty lot on the south side of the street closer to Lenox

    The open parking lot and basketball court on the north side of the street next to the Renaissance.

    Tearing down that old abandoned looking white church which sits right in between 1400 on 5th and the Kalahari.

    Now...what can be done about those projects on 115th?

  8. #53

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    I emailed the Department of Housing Preservation and Development and they didn't know anything about it. Do you have any more info on the building?

  9. #54
    Forum Veteran Tectonic's Avatar
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    Home Depot may back out of Harlem site

    Home Depot said it is rethinking its long-anticipated East River Plaza location, even though it has already signed a lease.
    March 28. 2008 11:07AMBy: Theresa Agovino

    Landov

    Real estate sources say that The Home Depot Inc. is close to abandoning its long-anticipated store at the East River Plaza in Harlem, a major new retail development from Forest City Ratner and Blumenfeld Development group.

    Home Depot confirmed that it is rethinking the location, even though it has already signed a lease.

    “We are re-evaluating this site to determine if it still makes sense for our business,” noted Jennifer King, a senior manager of public relations at Atlanta-based Home Depot. She added that a final decision has not been made.

    The company’s hesitation comes as the economy stumbles, forcing retailers large and small to reconsider expansion plans. Additionally, the credit crunch makes cash for building new stores harder to come by.

    Home Depot has been buffeted by the housing decline and intense competition from Lowe’s Home Improvement.

    Home Depot’s interest in the 500,000-square-foot project was first announced in 1998. Since then, Best Buy and Target Corp. have also signed leases there. If those two retailers have co-tenancy provisions in their leases, they might be able to walk if Home Depot bails, endangering the entire project.

    The big-box retailer would likely be responsible for finding another tenant to take over its 100,000 square foot space.

    “We have a lease with them, and we expect them to live up to that,” says Loren Riegelhaupt, vice president of government and public affairs at Forest City Ratner Cos., which partnered with Blumenfeld Development Group to create the project. Mr. Riegelhaupt would not comment on the co-tenancy issue.

    Construction on East River Plaza is slated to wrap up by fall 2009. It is located at the former Washburn Wire Factory site on about six acres between East 116th and East 119th streets and adjacent to Franklin D. Roosevelt Drive.



    Crain's New York

  10. #55

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    Developer Would Cut Historic Victoria Theater In Half

    byChris Shott | April 16, 2008

    Jefferson Siegel/AMNY
    Longtime Victoria manager Harold Sharp

    AM New York today examines the controversy surrounding Harlem's shuttered Victoria Theater:
    Local developer Steve Williams of Danforth Development Partners, LLC, wants to transform the 1917 burlesque theater into a 30-story condo/hotel, cutting up the ornate 2, 400-seat theater into two mini-theaters while preserving the facade and parts of the lobby.
    Neighborhood activists argue that the Thomas Lamb-designer theater shoud be restored to its original grandeur.

    But others contend that such a large performance hall doesn't make sense, especially one right down the street from the famous Apollo:
    "It's the white elephant that no one can afford to rent, because it's too damn big," said Curtis Archer, president of the Harlem Community Development Corp.


    Mr. Williams is aiming to reopen the Victoria by 2011.
    Copyright 2008 The New York Observer.

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  12. #57
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    Gloomy

  13. #58
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    A Green Building for Ex-Prisoners in Harlem


    Fortune Society broke ground on a $42 million green affordable housing
    project housing project.


    By Jennifer 8. Lee
    February 20, 2009, 3:21 pm

    A $42 million green housing project broke ground in Harlem this week, joining David and Joyce Dinkins Gardens in the growing trend of environmentally progressive budget housing projects that are being planned and built around the city.

    The 110-unit project, at 625 West 140th Street, will split its units roughly between formerly incarcerated homeless people and moderate-income families. Among the features the building will offer: free Wi-Fi, roof gardens that will channel rain water, and aluminum solar shades for temperature control. It is to be ready by mid-2010.

    The development is run by the Fortune Society, which works to help former prisoners assimilate into mainstream society.

    About 50 percent of parolees in New York are homeless when they come out of prison, according to Fortune’s estimates. Many of them have difficulty getting public housing, federal housing vouchers and regular rentals because of their broken credit history and criminal records.

    “It’s like multiple barriers and handicaps,” JoAnne Page, president of the Fortune Society, said Thursday after the groundbreaking. “What happens is they end up staying in the shelter, which is horrible for everyone.”

    And even families where a single member has been in prison confront problems in obtaining housing. “So many options are closed to them on a level playing field,” Ms. Page said. So of the 63 units that are for formerly incarcerated people, 13 are for families. In addition, the 50 units that are aimed at moderate-income families will also be open to such families. “If we have a family with a criminal record, we are going to look at the facts of the case; we are not simply going to say no,” Ms. Page said. “What we will not do is discriminate based on having a family member in the criminal justice system.”

    In 2002, the Fortune Society opened up the Fortune Academy to help rehabilitate former prisoners in a castlelike building that sits next to the current construction site. “What we look at is evidence of stability and motivation,” Ms. Page said. Thus 20,000 square feet of the 100,000 square feet in the building will allow Fortune to offer job training, counseling education and other services.

    Monthly rents for a studio will range from $624 to $976, while a three-bedroom will range from $930 to $1,127. Eligibility for the moderate-income units will be set at 60 percent of the median average income of the surrounding community or less. Money for the project came from a combination of city, state, nonprofit and corporate foundations — including the New York City Department of Housing Preservation and Development, the New York State Office of Temporary and Disability Assistance, Enterprise Green Communities and Deutsche Bank Americas Foundation, among others.

    The Fortune Society project is part of a push of green moderately priced housing in neighborhoods across the city and nationwide.The building will be aiming for gold certification in Leadership in Energy and Environmental Design, an aggressive standard more commonly associated with slick office buildings and luxury condos.

    But advocates say green standards are a wise investment because of both ongoing maintenance cost and health issues. “Green is not only about reducing energy impact; it’s about improving human health,” said Jonathan F. P. Rose, whose firm designed the Fortune project as well as the Dinkins Gardens. Specifically, Mr. Rose noted that many chemicals such as pesticides are known to cause lower birth rates and decreased intelligence in newborns.

    Nationwide, Enterprise Community Partners, which promotes affordable housing, has created a five-year, $555 million commitment to build more than 8,500 healthy, efficient homes for low-income people.

    At first, environmentally friendly moderate-priced housing projects were slow to take off because of cost concerns. But now, Mr. Rose said, green buildings are only 1 percent more expensive than non-green buildings.

    “I believe that in a few years, all affordable housing in New York City will be built green because of the health case, the cost case,” Mr. Rose said.

    Copyright 2009 The New York Times Company

  14. #59
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    Default 1200 Fifth Avenue

    Lonely at the top

    Sales stall at posh Harlem prewar 1200 Fifth

    The conversion of 1200 Fifth Avenue first started in mid-2006, when the Harlem market was peaking

    By Michael Rudnick

    The building that has bragging rights to the most expensive closing in Upper Manhattan, with a penthouse apartment that sold for $15 million, has dozens of other units sitting empty and unsold.

    Marketing at 1200 Fifth Avenue, a conversion of an Emery Roth building located between 101st and 102nd streets, first started in mid-2006, when the Harlem real estate market was peaking.

    And while the marketing campaign claims the building is in the "heart of the Upper East Side," some brokers say its lofty Upper East Side price tags minus that actual location have hindered sales.

    Three years after marketing began, about 40 units remain unsold. According to StreetEasy, a real estate data Web site, 41 units are unsold. However, Carrie Chiang, a senior vice president at the Corcoran Group and exclusive broker on the project, lists 24 units as recently sold. If no other units have sold, that would mean 39 remain unsold.

    Chiang, one of the most prominent brokers in the city, has eight listings at 1200 Fifth posted on her Web site, with prices ranging from $1.49 million to $6.97 million.

    Chiang's recently sold category seems to include the $15 million triplex penthouse that closed in early January, which ranked as the most expensive closing to date in Upper Manhattan, said Sofia Kim, vice president of research at StreetEasy.

    "It was priced like an Upper East Side building from the beginning," said Todd Stevens, a senior vice president at Prudential Douglas Elliman who is not affiliated with the project.

    The Upper East Side, which commands higher prices than its northern Harlem neighbor, terminates at 96th Street, according to most market observers.

    Kim concurred, saying when the building first went on the market it was being billed as "Carnegie Hill."

    She added, "[the developers were] trying to push that cachet … back then it was a stretch, and now it's even a bigger stretch."

    According to Klara Madlin of Klara Madlin Real Estate, an Uptown firm, the average price per square foot of East Harlem new construction condos ranges from $611 for three-bedroom units to $763 for studios. The average price per square foot at 1200 Fifth's 10 active listings is substantially higher, at $1,691, according to StreetEasy. Kim explained that it is likely only some of 1200 Fifth's unsold units are actively listed because developers prefer to release a "certain mix" of units to the market, rather than putting all units up for sale at the same time.

    Stevens, a Harlemite, contrasted 1200 Fifth with another record-setting luxury condominium, 111 Central Park North, which began marketing at roughly the same time.

    That building set a Harlem record in early 2008 with the $8 million closing on its penthouse unit. (Sales have been recorded at 44 of its 47 units, according to StreetEasy.) The listed apartments at 111 Central Park North have an average price per square foot of $1,177, about 30 percent lower than that of 1200 Fifth.

    "When they put it up, they put up the right prices immediately," Stevens said.

    The building, he said, was not billed as a "'Central Park North community' or an 'Upper East Side or Upper West Side building' — it was laid out as a gateway to Harlem and people grabbed [the units]."

    It may not get any easier for 1200 Fifth anytime soon either. Harlem is mired in a real estate downturn along with the rest of Manhattan — and the Uptown luxury market has been hit hard. Condominiums in Upper Manhattan had average price declines of 10.2 percent for the first quarter of 2009 versus the year-ago period, according to a first-quarter StreetEasy report.

    New luxury buildings in Harlem, particularly conversions, are also highly susceptible to the downturn because they tend to be filled with large units that target families who are often more sensitive to economic hardship than single first-time buyers, Madlin said.

    Willie Kathryn Suggs, owner-broker at a self-named Harlem firm, said the price gap has narrowed between Harlem luxury apartments and condos south of 96th Street.

    "As the market started to slide, people stopped coming Uptown; they could get the same thing Downtown for the same price.

    "The high-end pricing in Harlem is the same as Downtown," Suggs added.

    The Real Deal was unable to obtain information about 1200 Fifth Avenue's unit mix as of press time, but Chiang is advertising everything from two-bedrooms to five-bedrooms on her Web site.

    Suggs notes that Harlem fringe areas that have limited access to services were "hit hardest" by price declines.

    "New Yorkers are about one thing: convenience," she said. "102nd and Fifth has no crosstown bus and no nearby subway."

    The cure to what ails 1200 Fifth could reside next door at Mount Sinai Medical Center. Robb Pair, founder of real estate brokerage and development firm Harlem Lofts, said the building should take aim at a captive audience of Mount Sinai employees, many of whom are high-income physicians. One suggestion: the creation of a rent-to-own program for foreign medical fellows to entice them to stay in the building after completing their fellowships.

    In addition to niche marketing, it seems one possible solution to 1200 Fifth's dilemma might be to drop prices.

    However, Debby Klein, an associate broker at Bellmarc Realty who is not affiliated with the building, said sponsors generally opt for "affordability agreements" over price cuts, which may involve coverage of transfer taxes for the buyer.

    Going that route can help buyers without creating the damaging appearance of a "fire sale" in public records, she added.

    In lieu of price cuts, some sponsors in the area are offering concessions such as free parking and storage as well as free monthly gym access, Suggs said.

    Manhattan Real estate investor Joseph Chetrit and Maurice Mann of Mann Realty Associates, two of 1200 Fifth's investors, did not return calls.

    http://ny.therealdeal.com/articles/lonely-at-the-top

  15. #60

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    And while the marketing campaign claims the building is in the "heart of the Upper East Side,"
    Ha!

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