The Wall Street Journal had couple of reports on the stalled retail project at 125th Street and FDB/8th Avenue in the past year and now it seems like the only store doing business at the corner has vacated further east (last photo). We walked by this past weekend and saw that the outerwear outlet that had set up shop about a year ago has relocated to 5th Avenue and 125th Street. The developer had bought out this group of buildings back in 2007 for $30 million and paid out $1 million to relocate the five existing tenants. When plans to attract big box retailers failed (nothing happened in 2 years) the retail spaces were back on the market with month-to-month leases offered. Dramatically this all changed in June when it was announced that interest had picked up:
LINK. Seeing that the corner store had its lease terminated recently, does this mean the 60,000 square foot retail project will start up sooner than later? Currently, DOB files have nothing posted on any future activity on this site. Does anyone have any inside information?
The Wall Street Journal had couple of reports on the stalled retail project at 125th Street and FDB/8th Avenue in the past year and now it seems like the only store doing business at the corner has vacated further east (last photo). We walked by this past weekend and saw that the outerwear outlet that had set up shop about a year ago has relocated to 5th Avenue and 125th Street. The developer had bought out this group of buildings back in 2007 for $30 million and paid out $1 million to relocate the five existing tenants. When plans to attract big box retailers failed (nothing happened in 2 years) the retail spaces were back on the market with month-to-month leases offered. Dramatically this all changed in June when it was announced that interest had picked up: LINK. Seeing that the corner store had its lease terminated recently, does this mean the 60,000 square foot retail project will start up sooner than later? Currently, DOB files have nothing posted on any future activity on this site. Does anyone have any inside information?
Here are the two prior HB posts for additional context:
ReplyDeletehttp://harlembespoke.blogspot.com/2010/06/read-more-momentum-on-125th-street.html
http://harlembespoke.blogspot.com/2009/08/remember-kelly-brothers-saloon.html