Tag Archives: Vornado Realty Trust

Vornado to Sell Harlem Office-Tower Site for $65 Million

harlem

Harlem Parked

Vornado Realty Trust (VNO) agreed to sell a parcel near the MetroNorth commuter rail station in Manhattan’s Harlem neighborhood, where it had planned to build an office tower five years ago. Continue reading

About these ads

Developers Are Making Bets on a Rising East Harlem

east-harlem-popupSharon Kahen and his partner Haim Levi are making a multimillion-dollar bet on East Harlem. The developers recently closed on a vacant parcel at 119th Street and Third Avenue where they plan to build a 60-unit market-rate rental building. Continue reading

A Record Of Harlem’s Change

Harlem’s most ubiquitous activist and resident Cassandra, Sikhulu Shange, has been warning against the perils of gentrification and the displacement of small businesses in the community for decades. He became living proof of his most dire prophesies this summer when he was forced to close his iconic music store on 125th Street, the Record Shack, after losing a two-year legal battle with his landlord. A team of city marshals seized all of his inventory and evicted him on July 24 from the store he occupied for 36 years — more than three months after the May 31 deadline a civil court judge had given Mr. Shange to vacate the space. He claims he was in the process of appealing the decision, and did not know that “they would be coming after me after a certain date.” Continue reading

Commission OKs 125th St. Rezoning

The New York City Planning Commission voted on Wednesday to rezone the eastern portion of 125th Street, helping to pave the way for a 1.7 million- square-foot, mixed-use complex.

City officials spent months working with community activists on the plan, which is to include stores, restaurants, offices and housing. However, strains began emerging in March because the city opted to start to rezone the parcel before selecting a developer.

Continue reading

Harlem TV Base Deteriorates

The grand plan to bring the headquarters for Major League Baseball’s new cable television network to East Harlem is unraveling, real estate executives and government officials said on Friday. Continue reading

The Incredibly Shrinking Harlem Tower

The expected new home of Major League Baseball’s television network is being chopped down in size because of financial concerns. Vornado Realty Trust is having trouble securing the financing to erect a high-rise tower on 125th St. and Park Ave., and is currently renegotiating with MLB about its lease. The tower may only rise 14 stories, down 21 stories–apparently lack of interest from other potential tenants is also hamstringing the initial architectural plans. It’s an outcome that may please critics of Harlem’s gentrification and corporate sterilization, but is also a salient example of NYC’s economic troubles.

By Dave Hogarth for gothamist.com