Delshah Capital Puts Staple Harlem Watering Hole on Sale Block
The 23,746-square-foot property features 32 residential units and one commercial unit. On the ground-floor is Corner Social Bar & Restaurant, a well-known staple and gathering spot in the neighborhood.
NEW YORK CITY — Delshah Capital, a New York-based real estate investment firm, has put 321 Lenox Ave., on the sale block in the Harlem submarket. Jones Lang LaSalle is marketing the property, which is located within an opportunity zone.
The 23,746-square-foot property features 32 residential units and one commercial unit. On the ground-floor is Corner Social Bar & Restaurant, a well-known staple and gathering spot in the neighborhood since its opening in 2011.
Renovated in 1986, all of the building’s apartments were fully deregulated and currently are on free-market leases. The building’s boiler, electrical system, elevator and roof all underwent recent upgrades, and the building is sub-metered for both gas and electric.
“321 Lenox Avenue is a 100%, free-market property, with 143 feet of wrap-around corner frontage and tremendous light and air,” said Hall Oster of JLL in a prepared statement. “Given the ridership at the 2/3 express subway station, the bustling nature of Harlem’s 125th Street submarket, and the neighborhood’s close proximity to the Lenox Avenue retail corridor, the rental market surrounding 321 Lenox Ave. is poised for increased demand as the rental market matures.”