If you’re tired of reading about the tough conditions of the office market and low physical presence, take heart: There are some brave new office projects out there, though not in Midtown or Downtown Manhattan.
In a step forward for the new mixed-use project at 121 W 125th St., co-development partner Taconic has launched a leasing campaign for the building’s 90,000 square feet of offices — a bold addition to Harlem’s scarce office inventory and perhaps its only Class-A asset.
A Newmark-driven marketing campaign has already begun before there is a firm schedule for completion of the 414,000-square-foot project’s many components, although a tentative certificate of occupancy is expected this summer.
Rental demand was not disclosed, but is likely to be higher for new floors with advanced technology than typical neighborhoods with older buildings in the mid-$40s to $50s per square foot.
The ambitious, $242 million venture on bustling West 125th Street between Malcolm X and Adam Clayton Powell Boulevards is officially the Urban League Empowerment Center and will serve as the esteemed organization. new headquartersAs we told earlier.
It also has 170 affordable rental apartments and a total of 90,000 square feet of retail space.
Office tenant amenities include an 8,000-square-foot roof terrace.
Stores include Target and First Trader Joe’s in Upper Manhattan,
They reflect the strong retail energy along Harlem’s most famous street, where some storefronts are vacant, but where the trajectory is mostly upward.
Taconic is partnered with L+M Development Partners, BRP Companies and Prusik Group.
“More businesses relocate from traditional office districts to areas where their employees live,” said Jane Lugar, vice president of Taconic, offering project companies and organizations a unique proposition with well-designed offices in the heart of Harlem. does.”