News: Owners Developers & Managers

Savanna’s Lee Building in Harlem named a Wired Certified Gold building

The Lee Building, 1825 Park Avenue,
Harlem - Manhattan, NY

Manhattan, NY According to Savanna, The Lee Building, an office and retail building located at 1825 Park Ave. in Harlem’s 125th St. corridor, became one of the first Wired Certified Gold buildings in Harlem. The certification places the building among the ranks of the best-connected office buildings in the city. The certification also points to the continuing transformation of Harlem’s office market, with The Lee Building noted as the foremost office property of institutional-quality in the area. 

“Technology continues to be a driver behind successful businesses, and The Lee Building now boasts the best connectivity in Harlem,” said Kerry Powers, senior associate at Savanna. 

“The building is well-positioned to attract a variety of tenants from technology firms to not-for-profits.”

The 135,000 s/f Lee Building is adjacent to Metro North’s 125th St. stop and steps from 4, 5, and 6 subway lines. The 12-story property has unique features including vaulted 10- to 12-foot ceilings, unobstructed southern views of the Manhattan skyline, and 11,500 s/f floor plates. The building is enjoying leasing momentum that is expected to continue given its newly advanced resiliency, redundancy and readiness.

The new Gold Wired Certification marks the culmination of a comprehensive capital improvement plan to The Lee Building that Savanna began after purchasing the asset in 2016. Key features of the connectivity include: multiple fiber providers, redundancy in the form of fixed wireless connectivity from the rooftop and multiple fiber points of entry into the building, and additional riser capacity to support future ISP and tenant requirements, among other features. Additional elements of Savanna’s capital improvement plan to The Lee Building included façade and sidewalk repair, a newly designed lobby and entrance, upgraded bathrooms, new windows, and HVAC and electrical upgrades.

Arie Barendrecht, CEO and Founder of WiredScore, the organization behind Wired Certification, said, “We’ve rated buildings around the world and can now say with the utmost confidence that the Lee Building in Harlem joins the ranks of the best-connected office buildings.”

The 125th St. corridor of Harlem saw extensive rezoning in recent years, which drew new institutional capital to the corridor and fostered strong growth. The 125th St. corridor – the central artery of the Central Business District– is vibrant with retail establishments in addition to a growing commercial office market. The Harlem area also boasts an abundance of cultural institutions, including the Apollo Theater, National Jazz Museum, Harlem School of the Arts and more.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Hunt Commercial Real Estate Q&A:  Location, location, location? - by David Hunt

Hunt Commercial Real Estate Q&A: Location, location, location? - by David Hunt

In working with our clients, we break down our search objectives into two categories. The first category involves the specific needs of your business such as warehouse height, amount of office space and number of loading
IREON Insights:  Research and development tax credit: Very important deadline for amendments is July 6 - by Richard Levychin

IREON Insights: Research and development tax credit: Very important deadline for amendments is July 6 - by Richard Levychin

If you are a company that either claimed or qualify for the research and development tax credit you need to be aware of the following update resulting from the One Big Beautiful Bill Act (OBBBA).
Hunt Commercial Real Estate Question and Answer:  Evaluating the buyer - by David Hunt

Hunt Commercial Real Estate Question and Answer: Evaluating the buyer - by David Hunt

The Purchaser: This is usually a subjective decision. As an example, a large public company may be a desirable purchaser because it is financially strong, but
Follow the upside: How NYC  investors are rethinking real estate - by Thomas Donovan

Follow the upside: How NYC investors are rethinking real estate - by Thomas Donovan

In my earlier years of brokerage, my team had our investor list divided into five brackets – multifamily, retail, office, industrial and development. For the most part, multifamily investors only wanted to see multifamily