October 19, 2006

Press Release

October 19, 2006

ABS Partners appointed exclusive agents to sell prominent Harlem development site

Earle Altman, Steven Hornstock and Randy Modell of ABS Partners Real Estate, LLC have been appointed as the exclusive agents to sell 108-110 East 125^th Street, which goes through the block to 101-109 East 124^th Street and "L's" around to 1801-1803 Park Avenue.  The site is approximately 15,780 square feet and falls under the new proposed River To River rezoning of C6-3 and C4-4D, allowing 89,827 SF to be built, expandable to 119,769 as a housing bonus for community use.  The site has 50 feet of frontage on East 125^th Street, 140 feet of frontage on East 124^th Street and 63 feet of frontage on Park Avenue.

Our site occupies most of the eastern block front of Park Avenue and is opposite the western block front, which is being developed by a major real estate investment trust.  Additionally, the site is two blocks from North General Hospital and next to the 125^th Street Metro North Station with just one stop to Grand Central Station as well as the 4 & 5 train with three stops to Grand Central Station.

The site can be expanded through the acquisition of contiguous lots to a 164,995 SF development site, (expandable to 219,993 SF with the housing bonus) on a 28,308 SF lot.  The new site would have 140 feet of frontage on both East 125 and East 124^th Street and run the entire eastern block front on Park Avenue. 

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ABS Partners Real Estate, LLC is a full-service Real Estate advisory company specializing in lease, management, investment sales and acquisitions.

For more information please contact Annaliese Dettleff at 212.400.6092