69 East 125th St
69 East 125th St
2 TOWER, 77-UNIT, FULLY AMENITIZED NEW CONSTRUCTION ASSET WITH PRIVATE RESIDENT PARKING
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Greystone is a private commercial real estate finance and investment company with unmatched expertise in debt, equity, investment sales and loan servicing solutions.
We are known for deep industry knowledge, creative problem-solving, and willingness to go the extra mile in service of our clients. A national lender with over 1,000 experts throughout the country, Greystone originates more than $14 billion in loans annually and has a loan servicing portfolio of over $60 billion, spanning a wide variety of property types. Greystone, through its affiliates, also manages over 10,000 multifamily units and 4,500 skilled nursing beds.
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Cushman & Wakefield is pleased to announce it has been exclusively retained to arrange for the sale of 69 East 125th Street, a new construction building in the heart of East Harlem. The ~54,000 SF Mixed-Use property sits on the North Side of 125th Street between Madison and Park Avenues.
69 East 125th Street is a newly built 12-story block through elevator building with an additional a 6-Story building along 126th Street. The subject opportunity is made up of 75 residential units and 2 commercial spaces spanning 75’ of frontage along 125th Street and 20’ of frontage along 126th. The residential portion is made up of 59 Market Rate Units, 15 Affordable Units and 1 Super’s Unit. The residential units are broken down into 15 studios, 33 1 bedrooms, 8 1.5-bedrooms, 16 2-bedrooms, and 3 3-bedrooms.
The residential portion of the building is currently 99% leased while the commercial is 50% leased. The existing commercial tenant has term remaining through 2027 while the vacant space will be delivered in white box condition. 69 East 125th Street benefits from an existing 421a tax abatement through 2043.
69 East 125th Street is set to benefit from all the ongoing development and new construction projects that are taking place in the surrounding area. Tenants have numerous transportation options as the building sits just one block from the 4,5,6 subways and two blocks from the 2 and 3 subways. The building is also located on the same block as the 125th Street Metro-North Station and provides easy access to the Harlem River Drive.