Yarbro says that 1825 Park Ave. was Savanna's first acquisition in Harlem which speaks to how the neighborhood is now attracting institutional investors.

Yarbro, with Madison Square Realty and Colliers International where he also works as a broker, had represented Carver in the sale of their prior headquarters at 75 W. 125th St. for $19.45 million to Gatsby Enterprises. The broker representing the buyer was Joshua Nazar of Venture Capital Properties. With that transaction closing in February, Carver will move into its new office in the fall of this year.

However, Yarbro says it was important to Carver that one of its retail branch banks remain at the ground floor in the Gatsby building, anchored in the neighborhood. Other community developers have noted the importance of long-term institutions that have been historically vested in the area to maintain a presence and their services.

Carver had been struggling financially but selling its building will help it continue business. “Eighty-three cents of every dollar deposited in the bank goes back into the community, providing loans to local small business owners,” says Yarbro.

As to his own role in the transactions he adds, “It's great when you're not only a broker and advisor but establish a relationship with the client that helps you do something meaningful with the community."