Forest City Ratner is shopping a leasehold interest in Harlem Center, a 274,000-square-foot retail and office condo complex in Manhattan. Cushman & Wakefield has the listing.
The property is located on the corner of 125th Street and Malcolm X Boulevard. The retail and office unit are for sale either together or individually. Each has "highly favorable" assumable financing, according to a teaser. The office unit is fully leased with no near-term lease expirations. Two New York state agencies, the Division of Alcohol and Beverage Control and Office of Temporary and Disability Assistance lease about 85% of the space. H&M, Marshall’s, Staples and CVS lease 85% of the retail space.
Forest City Ratner completed construction on the retail portion in 2002 and the office unit in 2004. The company didn’t immediately return calls but is said to be looking for $100 million or more. Sales agent Jon Caplan declined to comment.
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