ABS Partners Real Estate has secured a 45,885 s/f, 20-year pre-development lease for Food Bazaar at One East Harlem, a one-acre, mixed-use development located at 201 E. 125th Street in Harlem, NY. The project will include 65,000 s/f of retail space and 404 units of housing upon completion. Mark Tergesen and Joe Italiaander of ABS Partners represented Food Bazaar.
The landlord was represented by Ripco Real Estate as well as Michael Berfield of Bridges Development Group. One East Harlem broke ground in April and Food Bazaar is expected to take occupancy in late 2021, with a targeted opening in 2022.
“This will be a game-changer for East Harlem as it brings a much-needed, large-format grocery use to the corner of 125th St. and Third Ave.,” said Tergesen. “Food Bazaar is the right tenant at the right time for this location, which will now serve as an anchor for the Eastside where many different developments, some talked about for years, are now coming to fruition. The addition of this full-service grocer fills a void left by the closing of the local Pathmark in 2015 and will help spur further economic development.”
The Food Bazaar location will feature frontage and a corner entrance at 125th St. It will span two floors and contain dedicated parking in the lower level for both customers and staff.
The Richman Group Development Corp., Bridges Development Group, Monadnock Development LLC, Hope Community Development Inc. and El Barrio Operation Fightback, collectively the developer of One East Harlem, recently broke ground on the mixed-use project.
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