JLL selected to market 321 Lenox Avenue in New York City’s Harlem neighborhood
NEW YORK — JLL Capital Markets experts has been selected by Delshah Capital LLC to market 321 Lenox Avenue, also known as 101 West 126th Street, in New York City’s Harlem neighborhood. The six-story building features 32 residential units and one commercial unit and is located within an opportunity zone. Delshah Capital is currently accepting proposals.
The 23,746-square-foot property features 32 residential units and one commercial unit. The building’s current retail tenant is the Corner Social Bar & Restaurant, one of Harlem’s most popular gathering places since its opening in 2011.
Following a substantial rehabilitation of the property in 1986, all of the apartments were fully deregulated and are currently on fair market leases. The apartment building’s boiler, electrical system, elevator and roof all underwent recent upgrades, and the building is sub-metered for both gas and electric.
321 Lenox Avenue is near a variety of excellent transportation options, with immediate access to the 2/3 express subway station. The area is a culinary destination, and Harlem is home to some of New York’s best historic architecture and cultural institutions.
The JLL professionals overseeing the sale assignment include Managing Directors Hall Oster and Paul Smadbeck, Vice Presidents Teddy Galligan and Conrad Martin, and Associate Braedon Gait.
“321 Lenox Avenue is a 100%, free-market property, with 143 feet of wrap-around corner frontage and tremendous light and air,” Oster said. “Given the ridership at the 2/3 express subway station, the bustling nature of Harlem’s 125th Street submarket, and the neighborhood’s close proximity to the Lenox Avenue retail corridor, the rental market surrounding 321 Lenox Avenue is poised for increased demand as the rental market matures.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.