286 Lenox Ave. in Harlem.
NEW YORK CITY- Harlem has always had a smaller sample size of office product relative to the rest of the city. But that hasn't stopped developers from building in the submarket and convincing investors to wrap their heads around smaller office floor sizes, Brent Glodowski, director at Avison Young, tells GlobeSt.com.
Often it is a challenge to convince typical office investors who are used to over 100,000-square-foot properties to focus their attention towards a 20,000-square-foot asset in a submarket, which they likely hadn't previously considered, he said. "When someone builds an office building in Harlem they do so with more of a hope or certainty that it can be filled with quality tenants," Glodowski said.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
