The site is located at 158 E. 126th St in the Harlem-East Harlem Urban Renewal Area. GV plans to spend $500,000 to improve the property's 30,000-sf industrial building and 12,000-sf parking lot. The sale price was $565,000.
The site has been used as a moving and storage facility since 1860. GV Moving rented the property from the city in 1997, when it acquired the business of the previous tenant, Poppi and Regal Storage Warehouse.
"We have been in business in Harlem for a long time," says Aaron Ben-Shoshan of GV Moving. "Now we will be able to renovate the building and improve and expand our business. We can look forward to continued success here in our own neighborhood." The company plans to add 18 jobs as a result of the renovation and expansion.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
