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Old Posted Apr 17, 2014, 12:43 AM
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Smile NEW YORK | 160 East 125th St | 120 FT | 9 FLOORS



Extell makes deal for Harlem Pathmark official
Seller finally approved sale today for $39M

April 16, 2014 06:45PM
By Katherine Clarke



142-96 East 125th Street and Gary Barnett

Quote:
Extell Development has officially purchased a 68,676-square-foot East Harlem retail property home to Pathmark supermarket, The Real Deal has learned.

The building, at 142-96 East 125th Street, is under a long-term lease with Pathmark and includes approximately 300,000 square feet of residential air rights and over 450,000 total buildable square feet with inclusionary housing bonuses. Extell secured the site for $39 million.

Victor Sozio, Shimon Shkury and Michael Tortorici of Ariel Property Advisors represented the seller, the East Harlem Abyssinian Triangle Limited Partnership, and procured the buyer.

“This was a complex transaction which required a pragmatic approach from both the buyer and seller,” Sozio said in a statement. “The site has been a valuable asset to East Harlem since it was developed in the 1990s and we believe it will continue to benefit the community for many years to come.”

East Harlem Abyssinian Triangle board members were reportedly squabbling over the agreement with Extell but finally approved the deal today.

I don't get the "142-96 East 125th Street" address, so I put in 160 which is where the Pathmark is.

Edit: 142-196 125th, got it!
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Last edited by Hypothalamus; Apr 17, 2014 at 3:00 AM.
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  #2  
Old Posted Apr 17, 2014, 2:19 AM
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It would be more clearly written 142-196 w125. Wonder if its gong to include the empty parcel on the east end of that block.

On a humorous note, are there any more Pathmarks in Manhattan for Extell to buy? First the one on the LES, and now this one.
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Old Posted Apr 10, 2020, 7:36 PM
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https://therealdeal.com/2020/04/10/e...=feature_posts

Extell’s plan for East Harlem development site revealed
Gary Barnett’s company files documents detailing nine-story office building






April 10, 2020


Quote:
Extell’s controversial East Harlem development site is destined to become … a low-rise office building.


Gary Barnett’s company, known for soaring, shiny residential spires such as Central Park Tower, filed plans this week to construct a nine-story, 354,000-square-foot commercial building on the property, according to public records.
Quote:
The building will stand 120 feet tall with the first floor dedicated to retail. About 41,000 square feet will be earmarked for a community facility.

Extell spent $70 million to assemble the block-long site, between Third and Lexington avenues and East 124th and 125th streets. It is known as the Harlem Pathmark site for the former supermarket at 149 East 124th Street.

In 2016, speculation arose that Barnett — whose calling card is ultra-luxury condos — could build up to 600 apartments on the site by tapping into the city’s affordable housing programs.
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Old Posted Apr 11, 2020, 2:00 AM
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125th Street is prime for office developments with all of the new residential units going online along the corridor. Office tenants can also live in Westchester and beyond thanks to the Metro North connection.
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Old Posted Apr 11, 2020, 2:25 AM
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Still, a site like that sitting on top of such a transport hub could have accommodated residential above the office in 2 towers at both ends of the site - it's a full city block.
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