Today's Wall Street Journal reports on the Abyssinian Baptist Church's first condo development at 108 West 138th Street. This section of 138th Street, between Lenox and ACP/7th Avenue is also know as Odell Clark Place and the six-story condo will have 32 units with 10 of them subsidized. Out of the market rate units, the penthouse will be highest priced condo in the new construction with an asking of $970K. The renowned Harlem church, which also resides on this street, purchased most of the property on the surrounding block and has started focusing on encouraging home ownership in the neighborhood. Another notable point in the article is that the plans for the condo tower to be built over the abandoned Renaissance Ballroom seem to be still in the works: LINK. Photo courtesy of Joe Buglewicz.
Thursday, September 16, 2010
☞ READ: Harlem Church Launches New Condos
Today's Wall Street Journal reports on the Abyssinian Baptist Church's first condo development at 108 West 138th Street. This section of 138th Street, between Lenox and ACP/7th Avenue is also know as Odell Clark Place and the six-story condo will have 32 units with 10 of them subsidized. Out of the market rate units, the penthouse will be highest priced condo in the new construction with an asking of $970K. The renowned Harlem church, which also resides on this street, purchased most of the property on the surrounding block and has started focusing on encouraging home ownership in the neighborhood. Another notable point in the article is that the plans for the condo tower to be built over the abandoned Renaissance Ballroom seem to be still in the works: LINK. Photo courtesy of Joe Buglewicz.
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The real story here is the power of ADC in Harlem - and the blurring of lines when so called tax exempt entities engage in for profit commerce, competing against private companies. ADC can landmark and "unlandmark" what they want, manipulate pretty much anything in Harlem they chose to. They are part of "institutional Harlem" and their tentacles reach everywhere they want, in lock step with Congressman Charles Rangel and just as unethical and corrupt. Here you see they have the power to have the WSJ basically manufacture an advertisement for them, free of charge. Most Harlem developers can't get that done, and here a Harlem developer has to compete against a division of a Church. I am interested in how these Churches play fast and loose when they claim "tax exempt", etc. yet jump full square in private for profit enterprise, competing against full tax paying businesses, etc. That's the crime. But no one dare cross or challenge ADC or bring them under the lens of scrutiny. You will lose against ADC every single time. Welcome to Harlem.
ReplyDeleteYa know Reynolds93, I know alot of contributors to this blog have issues with you, but I must say and I'm not being facetious here, I do Love You! I think you see what others are unable to see and articulate it, not always in terms they can understand but they get the jist of it, I think!
ReplyDeleteReynolds often has valid comments. It’s his Schadenfreud that’s so distressing.
ReplyDeleteHe’s like the smart guy you work with but you don’t want to go out for a beer with him after work.
Those condos will be a hard sell. That is not a desirable location. Yes, Strivers' Row is to the west but there no good amenities (besides Shrine and Yatenga) and the avenues up there are ghetto land. Maybe they would get doctors from Harlem Hospital but I doubt it.
ReplyDeleteI feel I must announce, for the record, that I am nearly 100% in agreement with Reynolds93 on this...
ReplyDeleteI couldn't agree with you all more on this characterization of ADC.
ReplyDelete