125th Street Corridor developmentS

125th Street Corridor Developments, New York NY
FEATURING:
West Harlem Waterfront | Columbia University Arts Center | Taystee Building | 301-303 West 125th
Street | Touro College | ALoft Harlem Hotel | One-2-Five LIVE | Mart 125 Redevelopment | Victoria
Theater Redevelopment | The Urban League Empowerment Center | Wharton Properties Mixed-Use
Development | Red Rooster | East Harlem Towers | East Harlem Mixed-Use Complex | Corn Exchange
Building | Harlem Auto Mall | The East Harlem Media, Entertainment and Cultural Center | The Tapestry
Presented By: Ariel Property Advisors
Revised July 2014
arielpa.com
212.544.9500
125 th Street Developments | Neighborhood Overview
Boasting a rich history, world-renowned cultural venues, respected academic institutions,
and classic architecture, Harlem is a well-known international brand, a designation few
New York City neighborhoods can claim.
More than 800,000 visitors are drawn to Harlem every year. In recent years federal, state and city officials have introduced a string of
initiatives to increase development and commercial activity along the neighborhood’s vibrant east-west thoroughfare, 125th Street,
which will undoubtedly lead to an increase in visits to the community.
To foster public and private investment, the City Council in 2008 approved a comprehensive rezoning of 125th Street between
Broadway and Second Avenue. The initiative provided a means for the eventual development of 1.8 million square feet of commercial office, hotel, retail and residential space. Additionally, the New York City Economic Development Corporation and Empire State
Development have issued a number of RFPs in search of projects that will help transform 125th Street into a world-class arts, cultural
and entertainment destination and regional business district.
The result has been a burst of dynamic and creative development plans that will offer amenities and attractions to visitors and local
residents alike.
Although development activity was dormant during the recent economic downturn, broader economic growth and a resurgence of
the New York real estate market is bringing the ambitious visions of 125th Street closer to reality. From river to river, a wide spectrum
of new projects are moving forward.
This booklet is intended to serve as a guide to the major developments that have been completed, are under construction or are in
the planning stages. We hope you find it informative and look forward to seeing these projects come to fruition.
125th Street Corridor Developments MAP
1
2
West Harlem
Waterfront
Columbia University
Arts Center
3
4
Taystee
Building
301-303 West
125th Street
126 th
2
5
6
Aloft
harlem hotel
one-2-five
live
7
8
Mart 125
Redevelopment
Victoria Theater
Redevelopment
9
10
touro
college
The Urban League
Empowerment Center
Street
1
3
4
6
8
7
9
5
4 | 125th Street Corridor Developments MAP
Developments on 125th Street
125th Street Corridor Developments MAP
11
12
Wharton Properties
Mixed-Use Development
Red
Rooster
13
14
East Harlem
Towers
Corn exchange
building
15
16
East Harlem
Mixed-Use Complex
The East Harlem
Cultural Center
17
18
harlem auto
mall
The
Tapestry
17
126th Street
126th Street
10
12
11
14
13
16
15
18
124th Street
Projects Under Construction
125th Street Corridor Developments MAP | 5
Recently Completed Developments
Columbia University
Arts Center
Address: 633-635 West 125th Street,
603-627 West 129th Street and
3221-3233 Broadway
Location: West 125th Street between
Broadway and Riverside Drive
Current Status: In Development
Developers: Columbia University
Proposed Development: 53,000 SF
Arts Center
Expected Completion: 2015
Jobs Creation: N/A
Columbia University Arts Center
Columbia University is planning a six-story, 53,000-square-foot arts center on West
125th Street as part of its $6.4 billion 17-acre campus expansion into West Harlem.
The university is using a $30 million pledge from Philadelphia philanthropist H.F.
Lenfest, after whom the building will be named, to partially fund the facility. One of
the goals of the Lenfest Arts Center, to be located on a plaza between Broadway
and 12th Avenue, will be to connect with Harlem’s vibrant arts and cultural scene.
The Lenfest gift is the university’s largest ever donation associated with the arts.
2
6 | Columbia University Arts Center
Developments on 125th Street
Taystee Building
Address: 426-458 West 126th Street
Location: 125th to 126th Streets, east
of Amsterdam Avenue
Current Status: In Development
Developers: Janus Property Company and Monadnock Construction Inc.
Proposed Development: 300,000 SF
Commercial and Community Facility
Space
Expected Completion: 2015
Jobs Creation: 510 Construction
Jobs and 440 Permanent Jobs
Taystee Building
3
3
Taystee Building | 7
The Janus Property Company, in partnership with Monadnock Construction, was selected
by the New York City Economic Development Corporation to develop this site. Originally a
bakery for the Taystee Bread Company, the completely new Taystee Building will contain
300,000 square feet of Class A, LEED Silver certified, state-of-the-art, mixed-use commercial and retail space. The project will offer a flexible and efficient floorplan, high ceilings,
large expanses of energy efficient glass, extensive outdoor space and on-site parking. When
completed in 2015, the building will be an integral component of the Manhattanville Factory District, connecting the hustle and bustle of West 125th Street by way of a landscaped
through-block passageway to West 126th Street.
Mart 125
Address: 260-262 West 125th Street
Location: West 125th Street Between
Frederick Douglass Boulevard and
Adam Clayton Powell Jr. Boulevard
Current Status: Pre-Development
Developers: Upper Manhattan Empowerment Zone
Proposed Development: Approx.
67,000 SF of Retail Space and Cultural Establishments
Expected Completion: N/A
Jobs Creation: N/A
Mart 125 Redevelopment
This property at 260 West 125th Street is located at the core of 125th Street’s arts, cultural
and entertainment district, directly across the street from the legendary Apollo Theater, offering a unique opportunity for a complementary destination of arts and culture. The Upper
Manhattan Empowerment Zone is stepping beyond its usual roll as financier and developing the project. The project will include:
• G
round floor digital interactive media space
• Multiple restaurants
• Two Harlem-based non-profits that focus on journalism and documentary film-making
7
8 | Mart 125 Redevelopment
Developments on 125th Street
Victoria Theater
Address: 233-235 West 125th Street
Location: West 125th Street Between
Frederick Douglass Boulevard and
Adam Clayton Powell Jr. Boulevard
Current Status: Pre-Development
Developers: Exact Capital and Danforth Development Partners
Proposed Development: 300,000 SF
of Hotel Residential Space and Affordable Housing
Expected Completion: N/A
Jobs Creation: 700 Construction
Jobs and 373 Permanent Jobs
Victoria Theater Redevelopment
8
The Victoria Theater at 233-235 West 125th Street, between Adam Clayton Powell Jr. and
Frederick Douglass Boulevards, will be transformed into a hotel, residential rentals and office and community space. In 2008, the Empire State Development Corporation selected
Danforth Development Corporation for the project, but development was halted during the
economic downturn.
Current plans for call for the facade of the theater, which was built in 1917, to be preserved
with two, 20-story towers rising on top. A 210-room hotel will occupy one tower and a 206unit residential building will fill the other.
Victoria Theater Redevelopment | 9
The Urban League
Empowerment Center
Address: 121 West 125th Street
Location: West 125th Street between
Adam Clayton Powell Jr. Boulevard
and Lenox Avenue
Current Status: In Development
Developers: Hudson Companies,
BRP Development Corporation and
the National Urban League
Proposed Development: 400,000 SF
Complex with 114 Units of Housing,
50,000 SF Conference Center, and
30,000 SF Museum
Breaking Ground: 2015
Jobs Creation: 750 Temporary Construction Jobs and 350 Permanent
Job
The Urban League Empowerment Center
Governor Andrew Cuomo and Mayor Michael Bloomberg unveiled plans to transform the
current 42,000-square-foot property into a 400,000-square-foot complex. The center, located on 125th Street between Adam Clayton Powell Jr. Boulevard and Lenox Avenue, will
serve as the 75,000-square-foot national headquarters for the National Urban League, a
civil rights group. It will also feature New York State’s first-ever civil rights museum in a
30,000-square-foot space, as well as 114 units of affordable housing, retail space, a 225car public parking garage and a 45,000- to 50,000-square-foot conference center. Of the
residential units, 50 percent will be market rate, 30 percent affordable and 20 percent low
income. Renderings for the tower show a glassy structure with three setbacks, each planted
with a landscaped terrace. The development should break ground in 2015 and open roughly
two years later.
10
10 | The Urban League Empowerment Center
Developments on 125th Street
Wharton Properties
Mixed-Use Development
Address: 100 West 125th Street
Location: Corner of West 125th
Street and Lenox Avenue
Current Status: In Development
Developers: Jeff Sutton, Wharton
Properties
Proposed Development: 180,000 SF
Five-Story Shopping Center
Expected Completion: 2015
Jobs Creation: N/A
Wharton Properties Mixed-Use Development
Jeff Sutton and Wharton Properties are developing 100 West 125th Street into a five-story
shopping center with approximately 180,000 square feet.
Whole Foods has leased about 40,000 square feet on the ground and lower levels, Burlington Coat Factory has leased about 70,000 square feet covering the third through fifth floors
and American Eagle has signed a lease for 8,500 square feet. The project will encompass the
entire west side of the Lenox Avenue block between 124th and 125th Streets.
11
Wharton Properties Mixed-Use Development | 11
East Harlem Towers
Address: 1800 Park Avenue
Location: Southwest corner of East
125th Street and Park Avenue
Current Status: Approved Plans
Developers: Continuum Company
Proposed Development: Two,
32-story residential towers that will
include 613,000 SF of residential
space and 70,000 SF of retail space
Expected Completion: 2017
Jobs Creation: N/A
East Harlem Towers
Continuum Company purchased 1800 Park Avenue for $66 million in 2013 and plans to build
two, 32-story residential towers totaling more than 600,000 square feet on the site. Of the
650 planned residential units, more than 70 will be affordable.
In addition, the project also will include 70,000 square feet of retail space. Community
Board 11 agreed to a zoning variance allowing for more retail and fewer parking spaces in
exchange for a promise from the developer to hire a percentage of local residents for construction, retail, and building management jobs.
13
12 | East Harlem Towers
Developments on 125th Street
East Harlem Mixed-Use Complex
Corn Exchange Building
Address: 1801, 1815 Park Avenue &
Address: 81 East 125th Street
110 East 125th Street
Location: Northwest Corner of East
Location: Southeast corner of East
125th Street and Park Avenue
125th Street and Park Avenue
Current Status: In Development
Current Status: Pre-Development
Developers: Artimus Construction
Developers: Waterbridge Capital is
reportedly in contract to purchase the
Proposed Development: 9,000 SF of
properties
Retail Space and 22,000 SF of Office
Space
Proposed Development: 210,000 SF
residential high-rise with 70,000 SF of
Expected Completion: TBD
retail space
Jobs Creation: 60 Construction Jobs
Jobs Creation: N/A
and 90 Permanent Jobs
Corn Exchange Building
14
In 2011, the New York City Economic Development Corporation selected 125th Street Equities LLC to redevelop the Corn Exchange Building, which was built in 1883 and granted
landmark status by the Landmarks Preservation Commission in 1993. Located at the corner
of 125th Street and Park Avenue, the Corn Exchange Building has been vacant since the late
1970s.
The $17 million project will include the rehabilitation of the historic building as well as the
construction of six additional floors, following landmark guidelines, resulting in 9,000 square
feet of retail space and 22,000 square feet of office space. Sixty construction jobs and 90
permanent jobs will be created.
Corn Exchange Building | 13
East Harlem Mixed-Use
Complex
Address: 1801, 1815 Park Avenue &
110 East 125th Street
Location: Southeast corner of East
125th Street and Park Avenue
Current Status: Pre-Development
Developers: Waterbridge Capital is
reportedly in contract to purchase
the properties
Proposed Development: 210,000 SF
residential high-rise with 70,000 SF
of retail space
Jobs Creation: N/A
East Harlem Mixed-Use Complex
Waterbridge Capital is reportedly in contract to purchase five contiguous properties for
nearly $37 million on the southeast corner of 125th Street across from Continuum Company’s planned East Harlem Towers.
Combined, the pieces of land feature approximately 210,220 buildable square feet. The developer is reportedly seeking a big box retailer for a 67,000-square-foot retail space, and
may build either luxury condos or rentals above it.
15
14 | East Harlem Mixed-Use Complex
Developments on 125th Street
The East Harlem Media,
Entertainment and Cultural
Center
Address: 209-249 East 125th Street,
2449-2469 2nd Avenue, 204-238
East 126th Street and 2305-2307 3rd
Avenue
Location: East 125th Street to East
127th Street between Second and
Third Avenues
Current Status: In Development
Developer: Archstone-Smith,
General Growth Properties, The
Richman Group, The Carey Group,
Monadnock Construction, Hope
Community and El Barrio’s Operation
Fightback
Proposed Development: 1,700,000
SF of Retail Space, Office Space and
Affordable Housing
Expected Completion: TBD
Jobs Creation: 4,000 Construction
Jobs and 1,500 Permanent Jobs
The East Harlem Media, Entertainment and Cultural Center
A five-phase, $700 million-square-foot, mixed-use development is planned to include
30,000 square feet of dedicated community and cultural space, more than 600 affordable
housing units, a public plaza, new office and retail space and a hotel.
16
The New York City Economic Development Corporation and Department of Housing Preservation and Development are partnering on the project with developer 125 MEC Center
LLC, consisting of Archstone-Smith, the Richman Group, Monadnock Construction and local
development partners Hope Community and El Barrio’s Operation Fightback. The entire development, which is expected to create 1,500 permanent jobs and 4,000 construction jobs.
The East Harlem Media, Entertainment and Cultural Center | 15
125th Street Developments | Completed
1
126 th
2
Street
3
4
6
7
8
9
5
1
4
5
6
West Harlem Waterfront
301-303 West 125th Street
ALoft Harlem Hotel
One-2-Five Live
NYCEDC advanced a lengthy and
inclusive design process to move
this recommendation forward,
with Community Board 9 and
WEACT for Environmental Justice as key community partners
throughout the process. This effort
ultimately transformed a derelict
and under-utilized section of the
Hudson River waterfront, between
West 125th and West 135th Streets,
into the 2-acre West Harlem Piers
Park (WHPP). Mayor Michael R.
Bloomberg, together with community leaders and elected officials, celebrated the park’s opening
in the Spring 2009.
A four-story 100,000-squarefoot shopping center has risin at
the corner of 125th Street and
Frederick Douglass Boulevard.
This new development includes
a 30,000-square-foot Designer
Shoe Warehouse as its anchor, the
city’s first Joe’s Crab Shack, Blink
Fitness and Party City.
Located at 2300 Frederick Douglass Boulevard, on the southeast
corner of 124th Street, the 12-story, 124-room Aloft hotel is the first
new hotel in Harlem in over 45
years. Apex Condos, 44 residential units are located on the top six
floors.
Grid Properties and the Gotham
Organization developed this $14
million, three-story retail building at
261-269 West 125th Street next to
the Apollo Theater. Designed by BLT
Architects, the project is located
across from Harlem USA, an entertainment complex developed by the
same team.
WHPP connects to Riverside Park’s
Cherry Walk to the south and includes new lawns, benches, landscaped areas for passive recreation,
as well as pedestrian and bicycle
paths, park furniture, and public art.
The park includes a pier designed
for excursion boats, a recreational/
fishing pier, a barge for commuter
ferries and a kayak launch.
The building includes the area’s first
Red Lobster restaurant, which has
leased 9,500 square feet on two
levels for a 300-seat restaurant.
An 11,000-square-foot space that
housed a bookstore and the HipHop Culture Center will reportedly
be leased to a casual sit-down restaurant.
16 | 125th Street Developments | Completed
Developments on 125th Street
125th Street Developments | Completed
17
126th Street
10
12
16
14
13
11
15
18
124
th
Street
Projects Under Construction
9
12
Recently Completed Developments
17
Touro College
Red Rooster
Harlem Auto Mall
The Tapestry
Touro College of Osteopathic
Medicine is located at 230 West
125th Street, directly across from
the Apollo Theater. Construction of
the medical school was completed
in Spring 2007. Its facility provides
approximately 75,000 square feet
devoted to state-of-the-art medical education. The School contains amphitheater-style lecture
halls, classrooms, offices, support
facilities, clinical skills training facilities, as well as technologically
advanced laboratories. The library
includes more than 50,000 Ebooks and 26,000 E-journals, sophisticated virtual resources, more
than 80 computer workstations,
multimedia areas and comfortable
reading spaces.
Celebrated and internationally
famous Chef Marcus Samuelson
opened this long awaited Harlem
restaurant at 310 Lenox Avenue,
just one block south from the famous Sylvia’s Restaurant. Serving
an eclectic combination of soul,
American and Scandinavian food,
its notable dishes include dirty rice
and shrimp, mac and greens, fried
yard bird and Swedish meatballs.
Known for its lively and upbeat
atmosphere, The Red Rooster has
received critical acclaim by New
York Magazine and the New York
Times.
Located at 2495 2nd Avenue on
nearly a full city block between
127th and 128th Streets and 2nd
and 3rd Avenues, The Harlem
Auto Mall provides Harlem and
Northern Manhattan with the first
auto dealership above 57th Street
in more than three decades. The
project was co-developed by General Motors and the Potamkin Auto
Group. An assortment of community leaders, including Mayor Michael Bloomberg, Reverend Jesse
Jackson, and U.S. Congressman
Charles B. Rangle, gave the project
strong endorsements, viewing it as
an affirmation in Upper Manhattan’s future growth and strength
by the corporate community. The
initial investment was at least $60
million and eventually approached
$100 million, creating as many as
175 jobs. The prime mover behind
the project, aided by agencies like
the city’s Economic Development
Corporation and the Upper Manhattan Empowerment Zone, was
the Potamkin organization, which
has 50 auto franchises nationwide,
including 9 in New York City. The
mall opened its doors in 2006.
The joint venture team of Urban Builders Collaborative/Lettire Construction
Corp. and Jonathan Rose Companies developed and built Tapestry, a
12-story gateway residential building
located at 245 East 124th Street at the
foot of the RFK Bridge in Manhattan.
125th Street Developments | Completed | 17
The 185-unit 50/30/20 mixed-income, rental building sets 50% of
the apartments aside for market-rate
tenants; 30% of the apartments for
middle-income tenants with rents set
at 130% of the area median income;
and 20% of the apartments for lowincome tenants earning below 50% of
AMI. The project also features 8,000
SF of ground-floor retail space.
18
125th Street Developments | Transportation
125th Street Developments | Transportation
The following New York City Subway stations
are located at 125th Street (west to east):
125th Street at Broadway serving the 1 train
125th Street at St. Nicholas Avenue serving the A B C D trains
125th Street at Lenox Avenue serving the 2 3 trains
125th Street at Lexington Avenue serving the 4 5 6 <6> trains
Metro-North Railroad’s Harlem – 125th Street commuter station is also
on 125th Street at Park Avenue.
M60:
Over 32,000 people ride buses daily on 125th Street, 9,700 on the M60,
making it the busiest bus route on 125th Street.
MTA New York City Transit (NYCT) and the New York City Department
of Transportation (DOT) plan to upgrade the M60 to Select Bus Service,
featuring off-board fare payment, dedicated bus lanes, limited stops and
transit signal priority in Manhattan. Bus lanes and other 125th Street improvements would benefit all 32,000 daily bus riders on 125th Street, not
just the M60. As part of the project, DOT would also make improvements
to curb regulations and pedestrian safety along the corridor. The proposed service would be 10-15% faster from end-to-end than the current
route, and 15-20% faster between 125th Street/Lexington Avenue and La
Guardia.
18 | 125th Street Developments | Transportation
Developments on 125th Street
125th Street Developments | Transportation
Future Second Avenue Subway Line & 125th Street:
Currently under construction, the Second Avenue Subway will include a
two-track line along Second Avenue from 125th Street to the Financial
District in Lower Manhattan. It will also include a connection from Second Avenue through the 63rd Street tunnel to existing tracks for service
to West Midtown and Brooklyn.
The project is scheduled to be built in four phases. Phase One will include
tunnels from 105th Street and Second Avenue to 63rd Street and Third
Avenue, with new stations along Second Avenue at 96th, 86th and 72nd
Streets and new entrances to the existing Lexington Avenue/63rd Street
Station at 63rd Street and Third Avenue.
The Second Avenue Subway will reduce overcrowding and delays on the
Lexington Avenue line, improving travel for both city and suburban commuters, and provide better access to mass transit for residents of the far
East Side of Manhattan.
When complete in December 2016, the first phase will:
•
Serve approximately 200,000 daily riders
•
Decrease crowding on the Lexington Avenue Line by as much as
13%, or 23,500 fewer riders on an average weekday; and
•
Travel time will be reduced by 10 minutes or more for many riders
traveling from the Upper East Side
Source: MTA
125th Street Developments | Transportation | 19
125 Street Developments | Zoning
x: -3.0
y: +33.25
M1-1 M1-2
R8
W 133rd St
S
M3-1
W 132nd
132 d St
In 2007, the New York City Department of City Planning proposed zoning map and text changes to 24 blocks
along the 125th Street corridor. After public review, the City Council approved the rezoning proposal with modifications on April 30, 2008.
M1-2
Riverside Dr
M2-3
W 131st
131 St
Manhattanville
Rezoning Area
R7-2
W 130th St
W 129th St
The rezoning proposal was based on a series of shared goals articulated throughout the public outreach process by an Advisory Committee, stakeholders and research conducted by an Interagency Working Group. These
shared goals included:
R8
Tiemann Pl
C2-2 commercial
overlay
Shared Goals
Lasalle St
Pkwyy
Pk
C6-2
M1-1
W 132nd St
M1-2
C6-1
R7-2
W 130th St
C2-4 commercial
overlay
Old
Bro
a
dw
ay
W 129th St
R8
Tiemann Pl
R7A
C2-4 commercial
overlay
Broadway
Claremont Ave
Riverside Dr
R7-2
R8
Source: NYC Department of City Planning
R8
Riverside Park
W 122nd St
20 | 125th Street Developments | Zoning
Amsterdam Ave
Lasalle St
Pkwy
Zoning and Urban Design - Zoning changes to promote commercial and housing development, including
affordable housing. Urban design principles to protect the corridor’s existing scale and character and to
improve the street’s pedestrian experience.
Arts and Entertainment - Strengthen critical mass of arts and entertainment venues, promote the street’s
identity and foster complementary uses.
Retail - Encourage a balanced retail mix.
Transportation - Address traffic challenges.
Henry Hudson
•
•
Broadwayy
R8
Building on its historic and existing character and resources, a series of strategies for 125th Street were identified to achieve the shared goals. The proposed strategies sought to sustain the ongoing revitalization of 125th
Street as a unique Manhattan Main Street, enhance its regional business district character and reinforce the
street’s premier arts, culture, and entertainment destination identity. The proposed strategies included:
•
R8A
W 122nd St
Overall Vision and Strategies
•
R7-2
Claremont Ave
Riverside Dr
x: -3.0
y: +33.25
Riverside Park
Riverside Dr
Strengthen 125th Street’s continuity and maintain its unique character
Increase density in areas that can accommodate it
Encourage more residential uses
Increase visitors and nighttime activity
Encourage a diverse mix of businesses, including arts and entertainment
Generate career opportunities for Harlem residents
Address cross-town transportation
nryy Hudson
Henr
H
•
•
•
•
•
•
•
Developments on 125th Street
125th Street - River to River
D E PAR T M E N T O F C I T Y P LAN N I N G
City of New York
MANHATTAN OFFICE
Allowed Density (FAR):
Building Form:
R7-2
C4-4
C4-5
C4-4A
C4-7
10.0
2.0
3.44
3.44
3.44
4.0
12.0
R7-2
none
not required
none
not required
none
40’
65’
125th Street Rezoning - Old Zoning
80’
not required
none
M3-1
W 127th St
W 126th St
R7-2
R7-2
C8- 3
W1
25th
C4-4
St
R7-2
W 125th St
M1-2
C44A
C4-4
C4-7
E 125th
h St
E 125th St
C4-4
C4-7
C4-4
W 124th St
Allowed Density within Special District (FAR):
R8A
R8A
SPECIAL 125 STREET
DISTRICT ZONING
Morningside Park
R8
St
las
ho
Nic
e
Av
W 121st
121 t St
R7A
Use:
W 131st St
St Nicholas Park
Rezoning Area and Special District Boundaries
W 130th St
Inclusionary
Base Housing or Max.
FAR Arts Bonus FAR
R6A
R7-2
C2-4 overlay
R7A
C2-4 overlay
C4-4A
C4-4D
C6-3 within
core*
5.4
5.4
6.0
9.0
outside
core
C4-7
W 129th St
R7-2
RESIDENTIAL
Underlying
Zoning
District
1.8
1.8
2.0
3.0
3.0
3.44
4.0
4.0
7.2
7.2
8.0
12.0
Mount Morris Park
COMMUNITY
Historic
District
FACILITY
COMMERCIAL
Base
FAR
Arts
Bonus
Max.
FAR
4.0
6.0
1.4
2.0
2.0
2.0
4.0
5.4
8.0
10.0
2.0
12.0
Building Form:
Marcus Garvey Park
3.0
40’
4.0
4.0
6.0
6.0
60’
80’
80’
120’
160‘
65’
-
10.0
40’
60’
60‘
65’
85’
85‘
60’
85’
as Ave
R7-2
St
R8
W 127th St
R7-2
W 126th St
W1
25th
C4-4D
Ha
C2-4 commercial
overlay
ck
C4-4A
W 124th St
R7B
C4-4D
R7-2
C8- 3 M1-2
R7-2
R6A
R8A
R7A
R7-2
C4-4A
C4-4A
C4-4
E 125th St
C4-4D
E 125th St
C4-4D
park
R6A
W 124th St
E 124th St
C4-4
Mount Morris Park
Historic District
W 122nd St
M1-2
M1-2
C4-7
W 123rd ST
R8A
R7-2
E 127th St
C4-4
C4-4D
St
R7-2
E 123rd ST
Marcus Garvey Park
R7-2
M1-4
C1-9
R9
E 122nd St
ve
sA
la
ho
Nic
Morningside Park
R8A
Manhattan Ave
Morningside Ave
W 123rd St
R7-2
E 126th St
R6A
W 125th St
R8
W 121st St
M3-1
W 127th St
W 125th St
Pl
R8A
outside
core
C6-3
nco
R7A
E 121st St
290’ 330’
within
core
C6-3
St
C4-4D
W 126th St
C4-7
C4-4A
R7-2
R7B
E 128th St
Fifth Avenue
26th
R8
125th Street Rezoning - Approved “New” Zoning
Mt Morris Park W
W1
A
St Nichol
W 127th St
Malcolm X Blvd / Lenox Ave
Frederick Douglass Blvd
ve
nt A
M1-1
R9
core subdistrict
Adam Clayton Powell Blvd
nve
*
C1-9
E 122nd
122 d St
70’
none
40’
M1-4
Building
height:
max.
not required
Co
W 128th St
north R7-2
Special District bulk controls
Max.
FAR
Building base
(streetwall):
max.
min.
W 121
121st
stt S
Stt
6.5
R7-2
E 123rd
123 d ST
Lexington Ave
R7B
TH
SPECIAL 125 STREET DISTRICT ZONING - As adopted on April 30 , 2008
th
Park Ave
R8A
W 133rd St
C4-4
TH
C4-4D
E 124th St
C4-4
Madison Ave
D E PAR T M E N T O F C I T Y P LAN N I N G
City of New York
MANHATTAN OFFICE
Manhattan A
Ave
ve
W 123rd
123 d St
C4-4
R7-2
W 124
124th
hS
St
R8
Mt Morris Park W
Amsterdam Ave
C4-5
4.30.08
M1-2
E 126th
126th St
12
W 125th St
125th Street Corridor Rezoning
UptownNY site
W 126th St
M1-2
R7-2
R7-2
E 127th St
First Ave
R7-2
Building
height:
max.
not required
Second Ave
R8
Building base
(streetwall):
min.
max.
Third Ave
R7-2
W 127th St
Existing urban design controls
E 128th St
Malcolm X Blvd / Lenox Ave
W1
26th
St
St Nichol
W 127th St
Max.
FAR
Adam Clayton
y
Powell Blvd
Frederick Douglass Blvd
as Ave
M1-1
Max.
FAR
6.5
3.4
6.5
3.4
6.5
4.0
4.0
10 - 12*
10 - 12*
* with plaza or arcade bonus
W 129th St
W 128th St
COMMUNITY
FACILITY
First Ave
Max.
FAR
COMMERCIAL
Second Ave
Base
FAR
Inclusionary
Housing
Bonus
Third Ave
RESIDENTIAL
Underlying
Zoning
District
Lexington
L
i gt A
Ave
Use:
Fifth Avenue
St Nicholas Park
W 130th St
125th Street Developments | Zoning
EXISTING ZONING
Parkk A
P
Ave
R8
Madison Ave
EXISTING
ZONING
125th Street Developments | Zoning | 21
W 121st St
R8
R7B
C4-4D
R7A
E 121st St
R8A
R7-2
Please Contact Our Investment Sales Team:
Investment Sales
Investment Research
Shimon Shkury ext. 11
Ivan Petrovic
[email protected]
[email protected]
Victor Sozio ext. 12
Aryeh Orlofsky
[email protected]
[email protected]
Michael A. Tortorici ext. 13 Daniel Novick
[email protected]
[email protected]
Randy Modell ext. 17
David Baruch
[email protected]
[email protected]
Jonathan Berman ext. 20
Brett Campbell
[email protected]
[email protected]
Scot Hirschfield ext. 16
Jason Pappas
[email protected]
[email protected]
Howard Raber ext. 23
Sam Stuart
[email protected]
[email protected]
Mark Spinelli ext. 35
Dusan Panic
[email protected]
[email protected]
Daniel Tropp ext. 26
[email protected]
Jesse Deutch ext. 18
[email protected]
Jason Gold ext. 22
[email protected]
Marko Agbaba ext. 32
[email protected]
Joshua Berkowitz
[email protected]
arielpa.com
|
122 East 42 Street, Suite 1015, New York NY 10168
nd
p. 212.544.9500 f. 212.544.9501
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made above, as well as the
investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein.