After acquiring a sizeable Harlem development site for $70 million in April 2018, developer Happy Living hasn't wasted any time bringing a ground-up condo opportunity to life. Since securing a $138 million financing package from Madison Realty Capital (MRC) in April 2019, a visit to the construction site shows the concrete superstructure is now five floors up and rapidly climbing.
The full blockfront site at 300 West 122nd Street and St. Nicholas Avenue formerly held a gas station and parking garage. Its prior owner, RGS Holdings, spent years planning a 12-story condominium but lost the property to foreclosure in 2016.
The full blockfront site at 300 West 122nd Street and St. Nicholas Avenue formerly held a gas station and parking garage. Its prior owner, RGS Holdings, spent years planning a 12-story condominium but lost the property to foreclosure in 2016.
Approved permits call for a 13-floor building with apartments sitting above 235 feet of contiguous ground-floor retail and a community facility space. A press release from 2019 states there will be 155 condominium units located on floors two through 13. The building will be composed of 16 studios, 54 one-bedrooms, 68 two-bedrooms, and 17 three-bedrooms. Each home will boast 10-foot-high ceilings, walk-in closets, and private terraces with views of the surrounding area.
In this article:
300 West 122nd Street. Credit: Madison Realty Capital
300 West 122nd Street as of early January 2020
The growing-in-prestige firm of Issac & Stern Architects is listed as the architect. Renderings show an attractive facade of light-colored brick, dark metal, and oversized windows. The residential entrance will be on tree-lined West 122nd Street. The building will rise mostly sheer from street level and setback on the ninth floor. It appears the building will be topped by a roof deck, and several upper-floor apartments will be graced with private terraces.
Residents will be treated to a full suite of amenities. Bells and whistles will include a swimming pool, exercise room, reading room, party room, and parking for 17 vehicles. An offering plan has been filed but yet to be approved. Back in 2015, Curbed predicted that the project would be “one of, if not the priciest building north of Central Park.” Buttressed by high-end new condo developments such as Circa Central Park, 10 Lenox Avenue, and 5th on the Park, the average closing price for a condo eclipsed $1,000 per square foot in 2019, an incredible 90% increase since 2009. The median listing price of Central Harlem condo is $999,800 ($1,080 / ft2).
Previous design of The Ladera at 300 West 122nd via PBDW
Construction starting at 300 West 122nd Street in 2018
Massing illustration posted on the site fence
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