ABS Completes Sale Of West Harlem Development Sites
ABS Partners Real Estate, LLC today announced the firm has completed the sale of two development sites located at 412-422 and 423-429 West 126th Street in West Harlem. The $6.6-million transaction closed on June 20. The sites have recently been rezoned as part of the West Harlem Rezoning initiative which includes the adjacent former Taystee Bakery site.
ABS represented both the Seller and the Buyer, a Manhattan-based Chinese development group. Steven Hornstock and JustinStrizzi led the assignment with assistance from Alan Cohen and Adam Maxson.
“These sites attracted a very competitive bidding process with many qualified buyers submitting viable offers,” said Hornstock. “The rezoning was a significant factor encouraging interest in the deal as well as the proximity to the newly expanded Columbia campus. Plans for this site, which is zoned for commercial, residential or community facility use, are presently being developed and could include a hotel.”
About ABS Partners Real Estate
ABS Partners Real Estate, LLC is a premier New York-based real estate services firm. Founded by industry leaders with more than a century of collective experience, ABS has assembled a dynamic team of professionals with expertise in all facets of real estate services, including owner-advisory services, leasing, sales and property management. ABS also specializes in land use and ground lease consultation, the transfer of development rights, fractional ownership valuation, FAR valuation, and services specifically related to the issues faced by families holding real estate for multiple generations.