The huge stalled project at 5 West 125th Street (west of 5th Avenue) might just be starting up some time in the near future. Walking by the site recently, we noticed that one of those "What's going on here?" signs had recently been placed on the newish blue plywood fence. Most of the construction projects starting up this year received the colorful city signage that tells the public the status of a current development site. Based on the information posted, the project is set to be complete in 2012 and that's about all that was revealed. The last photo shows what the site actually looks like and it doesn't seem like any work has been done for at least the past year. We are not sure if it's a definite go but the fact that the city signage was placed out front is a good indication that a new building might be arriving on 125th Street. See our past post on the previous plans for this lot:
LINK. Photos by Ulysses
The huge stalled project at 5 West 125th Street (west of 5th Avenue) might just be starting up some time in the near future. Walking by the site recently, we noticed that one of those "What's going on here?" signs had recently been placed on the newish blue plywood fence. Most of the construction projects starting up this year received the colorful city signage that tells the public the status of a current development site. Based on the information posted, the project is set to be complete in 2012 and that's about all that was revealed. The last photo shows what the site actually looks like and it doesn't seem like any work has been done for at least the past year. We are not sure if it's a definite go but the fact that the city signage was placed out front is a good indication that a new building might be arriving on 125th Street. See our past post on the previous plans for this lot: LINK. Photos by Ulysses
I was just happy to have the sidewalk back.
ReplyDeletePlease, someone anyone...we need to know the details of this project!!! Seems like a major project being that it won't be completed until 2012.
ReplyDeleteCould it be that the Hotel that was planned for this site during the real estate boom has been resurrected?
ReplyDeleteThe Uptown Grand Hotel was planned for the site approx. 2-3 years ago.
ReplyDeleteAs time passed the hotel project faded kind-of and they began talking about a mixed use project.
ReplyDelete2012 is actually kind of a short timeframe for a project that we know basically nothing about.
ReplyDeleteAlso I love how the city is attempting to give us more information with the "What's Going On Here?" sign, yet the answers to the questions are "Generic LLC Name" and "Project Name That is Actually Just the Address"
I called the tel.# listed and it's not in service. I guess we'll need to contact 311 for answers.
ReplyDeleteI'm with 11.03.
ReplyDeleteThank you Lord, thank you Jesus
From the following page, which has small photo:
ReplyDeletehttp://www.feil.com/pages/currentdevelopments.html
5 WEST 125TH STREET NEW YORK, NY
New Development
5 West 125th Street
5th Avenue North at 125th Street
New 125,000 SF mixed-use retail and office building now being developed
Situated on the 125th Street corridor one block from the major NYC subway and Metro North railroad stations
Five-story building features two floors of retail plus cellar, two floors of offices, and loading dock
The hotel project address had been listed as "5-15 West 125th Street" and was to be developed by Reisman Property starting in 2007 -- obviously that has been stalled.
ReplyDeleteAccording to The Bond Buyer, Reisman was seeking NYC CRC financing for the project at least as recently as October 2009:
http://www.bondbuyer.com/issues/118_202/nyc-capital-resource-corp-1002780-1.html
"The company 125 Property Interests LLC, an affiliate of Reisman Property Interests, LLC, is seeking bond financing for a hotel in Harlem."
I believe this is the allocation of tax-exempt recovery bonds that was recently granted to the hotel project on 125th & Lenox -- so it seems this project at 5th Avenue lost out (at least on that financing opportunity).
Based on the drawing shown in HB's prior post (http://harlembespoke.blogspot.com/2010/02/introducing-hilton-garden-inn.html), it seems that the above, city-backed development at "5 West 125th Street" is likely to consist of only retail building depicted in the front portion of the larger lot, with the space designated "15 West 125th Street" remaining open for the planned hotel building (depicted in the drawing as in the rear of the lot, with a set-back, street-level entrance accessible to the west of the street-fronting retail, i.e., at "15").
I believe at the turn of the prior century this was the site of the Harlem branch of the YMCA.
ReplyDelete