NEW YORK CITY—Take a stroll down the 125th Street commercial corridor, which runs through the heart of Harlem, and you could be forgiven for thinking you are on a prime retail stretch in Midtown. National brands like Starbucks, Old Navy, The Gap, Banana Republic, Red Lobster, Blink and Designer Shoe Warehouse populate the retail stretch, and many more are slated to follow in the coming months. In 2016, Whole Foods the Burlington Coat Factory, American Eagle, Olive Garden and TD Bank, will establish a presence near the 2 and 3 trains on Lenox Avenue.

Factor in the lease commitments from WeWork and Bed Bath & Beyond at Aurora Capital's 5-15 W. 125th St., and Artimus Construction's rehabilitation of the Corn Exchange Building—at 125th Street and Park Avenue—to office space suited both for tech startups and traditional tenants and it's easy to see why Harlem is becoming one of the city's most desired neighborhoods.

Hotels, eateries, movie theaters and fitness studios have dotted the streetscape. Within the last few years, the 210-room Aloft Hotel opened its doors and Grid Properties constructed a three-story building at 269 W.125^th St., anchored by Red Lobster—another first in Harlem.