Bruce Eichner, head of The Continuum Co, is selling a two-building, 600k SF development site on East 125th St in Harlem to focus on three other projects. The 421a-eligible, mixed-use site could command $150M. One of the three projects he has chosen to focus on instead is a condo development at 45 E 22nd St, which has already proven to be successful, the New York Post reports. Some 45% of its luxury units have sold for around $3,500 PSF. The 32-story Harlem towers won't fetch as much. The ODA-designed towers will have 673 apartments, 20% of which will be affordable. Eichner purchased the site from Vornado Realty Trust in 2013 for $66M. [NYP]
Bruce Eichner Looks to Unload Harlem Site for $150M
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Related Topics:
45 E. 22nd St, Bruce Eichner, Harlem, ODA Architecture, The Continuum Co, Vornado Realty Trust
