Schettino of Giscombe Realty Group is a top expert on what is happening in Harlem

As vice president of one of the most well established real estate firms in Harlem, Jeffrey Schettino is one of the top experts on what is happening now in Harlem's commercial real estate landscape. With the commercial real estate market in Harlem catching up to its residential building boom, Schettino, vice president of Giscombe Realty Group, is well prepared for the changes that are sweeping through Harlem. Schettino handles office and retail leasing as well as sales on the commercial end at the headquarters of Giscombe Realty Group, one of Harlem's leading real estate management, leasing and brokerage firms whose acquisitions, developments, relocations and management venues along 125th have totaled more than one million s/f. Despite the economic clouds that have hovered over the past year, Schettino sees many positive signs of movement on the commercial scene in Harlem. Schettino says Harlem has many great real estate opportunities for those who want office or retail space in Manhattan. He is also confident the imminent rezoning of 125th will spur more activity as developers look to assemble new properties in the area. Almost daily he gets calls from downtown brokers bargain hunting for commercial retail properties in Harlem. Last year Schettino helped engineer the record-breaking $50 million sale of 16 prime retail buildings along 125th St. earning the highest per s/f price ever paid for retail space on Harlem's historic main corridor. Now Schettino is at the center - literally - of a broad swath of new commercial development plans surrounding Harlem's 125th St. and Park Ave. intersection, where his company, Giscombe Realty has its headquarters in the historic Lee Building and offers premier office space. (The firm was formerly known as Giscombe Henderson and was founded by Eugene Giscombe.) These days Schettino is busy overseeing the recent $4 million renovation of the Lee Building, that included a modernized lobby and upgrades such as flat screen televisions in the elevators. Schettino has already had great success in attracting major commercial tenants looking for spacious and affordable office space to the Lee Building. The building, which sits literally atop the Metro-North station and is one block from an express subway line, is also directly across the street from what would have been the site of the Vornado commercial development, Harlem Park, now officially scuttled. "This is one of the most vibrant corners at the heart of the community, and there will always be deals to be made here," said Schettino. Schettino recently brokered the deal to get new tenants like Rocket Studio, a high end music recording studio that attracts famous artists like Mya; Single Stop USA, a national nonprofit group that works with the disadvantaged and homeless, Greenstein Milbauer, a law firm which relocated from midtown to the Lee Building and Griffin Architects and Planners. When Eugene Giscombe, Giscombe Realty Group's founder and president, first purchased the 120,000 s/f Lee Building in 1979, the building was only 20% occupied. Today it is 90% occupied. Giscombe says Schettino's work ethic and knowledge of the Harlem market makes him a valuable asset to the firm. "Jeff is on the streets of Harlem every day and has an intimate understanding of what is happening in the market," Giscombe said. "He has helped many commercial tenants find exactly what they need in this competitive market." Prime real estate is still available north of 96th St., according to Schettino who feels the city's 125th St. rezoning plan will pave the way for mixed use development. That plan is expected to produce more than 7,000 jobs which will clearly give Harlem an advantage over the other communities as it emerges from this recession. The plan, explains Schettino, also ensures that buildings over a certain size include arts and entertainment uses for Harlem residents and the entire city to enjoy. "Harlem's 125th St. corridor and surrounding blocks are poised to become a unique new entertainment and office space market in Manhattan," he adds. A graduate of Wesley College in Dover, Delaware, Schettino has his bachelor's degree in Business Management and is a member of the Greater Harlem Real Estate Board. Before joining Giscombe Realty, Schettino worked in recruiting for an IT company in New York, then in San Jose, California. He returned to New York after a year and joined Giscombe Realty Group in 2002. "The Harlem renaissance which blossomed over the last decade will now extend its boundaries," said Schettino. "There are lots more exciting things to come if we all work together and put our collective energies to the task at hand."