Harlem, NY – Sale of Residential Development Site

About This Project

Ralph Trionfo represented both the owners and the developers on a mid-block development site consisting of four vacant lots. The property is to be developed into a new market rate 7-story mid-rise apartment building, containing 25 rental units and a community facility. The units will feature efficient, large flexible layouts with excellent air & light. The finish level will be comparable to a first-class apartment house in Manhattan. The proposed sites consist of a 9,000-sf parcel and a 7,500-sf  site for four contiguous vacant lots. The property was acquired last summer under a long-term ground lease with an aggregate value of approximately $42 million.

The developer plans to build a nine-story, 23-unit co-op, with a retail component, sublevel parking for 32 cars and a community facility. The property is located within a short walk to the subway and the Metro-North station offering great transportation access in this vibrant and emerging Harlem community.