Project:
Acquisition, Renovation, Change of Use, Property Management

Client:
The Lenox Avenue Group LLC

Location:
New York, New York

Project Period:
2004 to present

Construction Period:
2005 - 2006 (10 months)

In 2004, two investors living abroad retained Harlem Lofts, Inc. to locate investment properties in Harlem. Based on a buy and hold strategy that was necessary for the investor's personal portfolios, two adjoining buildings at Lenox Avenue and 124th Street were chosen.

Harlem Lofts, Inc.'s Broker Division located and represented the investors as their Buyer Broker to secure the buildings. Harlem Lofts Construction Division renovated the buildings, successfully changing the status of the building's certificate of occupancies to mixed use properties with luxury residential rentals, while combining the two commercial spaces at ground level. Harlem Lofts' experience in dealing with historic and landmarked properties proved to be instrumental in completing this project.

The project's significant challenges consisted of:

1. Regaining 300 square feet of sidewalk that The Department of Transportation took possession of when the original stoop was removed in 1910.
2. Returning the original stoop and facade to its original 19th century appearance, while adhering to The New York City Landmark Preservation Commission requirements.
3. Changing one building Certificate of Occupancy from Single Room Occupancy to a three-family mixed use property.
4. Creating a two-family mixed use property out of a building that had never obtained an official Certificate of Occupancy from the City of New York.
5. Grandfathering in commercial use in a residential area absent of a commercial overlay.
6. Working with J-51 and ICPIP tax credits.
7. Combining the two ground level spaces on the interior to maximize commercial rents, while maintaining separate tax lots for each building in order to one day sell them independently, if necessary.

This project's unique feature list includes:

1. Common and private roof decks with wet bar and refrigerators for residential tenants.
2. Custom glass floor hall in the duplex apartment allowing light to penetrate from the roof skylights to the 2nd level kitchen and living room.
3. Clawfoot tubs, coupled with glass shower stalls to mix the old with the new.
4. Five balconies overlooking the landscaped courtyard.
5. Heated tile floors in the baths and kitchens.
6. Custom movable doors to open the space into a loft-like atmosphere when entertaining.
7. Black high gloss wood floors throughout.
8. Four security cameras with 60-day DVR recording capability.
9. Granite, stainless, stone, and marble finishes throughout.
10. Open-riser oak steps floating on black steel beams, allowing light to travel front to rear.