On Tuesday, January 12th at 7pm, Join HNBA in welcoming:
- Liz Crotty on who is running for Manhattan DA
- Ruth McDaniels who is running to replace Bill Perkins on the City Council
- Valerie Bradley from the Marcus Garvey Park Alliance
We hope you’ll be able to attend with questions for the candidates. For the Zoom link, subscribe to our blog: https://hnba.nyc/subscribe-to-the-hnba-blog/
Lee Building for Sale
In 1979, Eugene Giscombe paid $40,000 for the 12-story office building at 1825 Park Avenue known as ‘The Lee Building’ (neighbors now think of this building as the Mount Sinai – hiding under the name Beth Israel -methadone hub of East Harlem).
He was quoted (when selling it recently for $48 million) that, next to marrying his wife, buying the historic Lee Building in Harlem was the best decision he ever made.
When Giscombe first purchased the building, it was only 20 percent occupied. Savanna, the current owner, is asking around $75 million for the early 1900s-era building, or about $555 per square foot.
Tenants include Beth Israel Medical Center (Mount Sinai methadone) and the Metropolitan Transportation Authority, which operates the Metro North Railroad and New York City subway lines that run through the nearby 125th Street station.
Tenants recently signed about 16,000 square feet of leases in the building, including an extension and expansion by Beth Israel and a new lease with Northwestern Mutual.