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54-62-West-125th-Street-1 Renderings via the New York Observer/Meridian Capital Group
Between Columbia University’s Manhattanville campus, retails rents at a fraction of Midtown’s, and a Bloomberg administration-led rezoning that allows significantly taller buildings, the heart of Harlem is about to face an influx of big box retailers and towering multi-family buildings. Some lament the “mallization” of 125th Street, while others embrace the chance to build uptown. The Jay Group, a Long Island-based private investment firm, is certainly in the latter camp as it prepares to bring its newest project to West 125th Street.
The planned tower is at 54-62 West 125th Street and adjacent to Whole Foods. The Jay Group purchased the five four-story buildings from Ares Management for $26.8 million in June 2018 and recently secured $36.5 million in financing for the acquisition and construction. The demolition is underway, and the tallest property on that side of the block will rise in its place. The 17-story building will house a community facility and 141 apartments, 30 percent of which will be affordable. Amenities are expected to include a laundry room, interior recreation space, and exterior recreation space.
60-West-125th-Street-04 String of derelict properties to be torn down for the tower (Google)
The new tower will take shape on a dramatically shifting street. A few doors down, the Victoria Theater is being redeveloped into a 28-story tower with 191 apartments, a 210-key Marriott Renaissance Hotel, and four floors of cultural space. Starchitect Bjarke Ingels Group designed an eye-catching 250-unit rental known as The Smile at 148 East 126th Street, and leasing is hotly anticipated.
Other projects are still in early stages, but no less anticipated for it. Next to the world-famous Apollo Theater, at 260 West 126th Street, a new building will act as an extension to the theater on the first, second, and third floors; there will also be a church on the ground floor and residential units throughout what is rumored to be a 42-story tower. Extell purchased a former Pathmark supermarket at 150 East 126th Street, and its replacement is thought to include a mixture of condos and affordable housing. The Durst Organization purchased 1800 Park Avenue for $91 million in 2016, and the planned multi-family project is in the planning stages.
60-West-125th-Street-03 Google Earth aerial showing location of project site.

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Content Specialist Michelle Mazzarella Michelle is a contributing writer and editor for real estate news in New York City
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