Harlem Arts-Inspired Rental Hits The Market

May 2, 2017

Less than two months after offering up its affordable rentals, leasing is now underway on the market-rate units at Harlem 125, a new two-building rental project located at 69 East 125th Street.

The project features a total of 60 market-rentals that come in studios through three-bedrooms, and many of them have outdoor space. Prices on the currently available apartments range from $1,994 for a studio to $3,345 for a two-bedroom, two-bathroom unit, according to Citi Habitats, which is exclusively handling leasing on the property.

East Harlem rents are among the fastest rising median rents in the city with median rent on a one-bedroom sitting at $2,300 per month last fall. Trulia estimates the current median rent on all apartments there at $2,675 per month.

Harlem 125 comprises of a seven-story building fronting on East 126th Street and a 12-story building fronting on East 125th Street, both located between Madison and Park Avenues.

The project came about after Greystone Development purchased four adjacent lots on East 125th and 126th Streets for $11.5 million in early 2015. Greystone then roped in Kutnicki Bernstein Architects to design the project and Lauren Jayne Design to do the interiors.

The apartments here will come with GE stainless steel appliances, stainless steel tiled backsplashes and Caesarstone countertops, all in the kitchen. The bathrooms here will feature soaking tubs and both subway and Italian Ragno tiling.

Amenities here include a furnished rooftop terrace, parking, a fitness center with outdoor space, a laundry room, and bicycle storage, among others.

For the building’s lobby, and hallways on each floor, Greystone brought on local artist, Lance Johnson, to create 12 murals that capture the spirit of the Harlem renaissance. Last fall, Johnson created a 76-foot temporary mural that stayed on the building’s exterior for a while.

In addition to the rentals, the project also comes with 5,600 square feet of ground floor retail. The MTA has already leased 2,250 square feet of space here for a new Second Avenue Subway community information center, as part of its planned expansion to East Harlem.

“We aimed to offer a residential product that was missing from this marketplace,” Jeffrey Simpson, the head of Greystone Development, said in a statement. “One with thoughtful amenities, modern touches and homes that celebrate the community, and I feel we’ve successfully delivered exactly that.”

The first set of residents will start moving in in June this year.

Via source

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