Gateway leading the way for Harlem renaissance

Real Estate Weekly, May 8, 2002

Former President Bill Clinton may have garnered a few 15-second sound bytes for Harlem's rejuvenation when he located his office there, but the Duane Reade drug store and Seaman's Furniture showroom are, day in and day out, helping the new three-story Gateway Building lead the revitalization of East Harlem. The striking 40,000-SF building on the Northwest corner of 125th Street and Lexington Avenue has pushed East Harlem 10 points up on the livability scale, while offering potential tenants advantages found only in locating their business in an Empowerment Zone.

The attractive office rental rate is only $28 per SF, with a modest 3% escalation and real estate tax increases limited for 15 years. In addition, tenants get a work letter valued at $20 per SF, selected on-site parking, 24/7 dedicated access, and a tenant-controlled HVAC system. About 15,000 SF of space is still available on the third floor. The exclusive real estate agent for Gateway is G.E. Grace & Company.

According to architect Warren Gran, Gateway has some unusually user-friendly features that have been especially welcomed in Harlem. Tenant merchants appreciate the security gates being recessed to the interior of the showcase glass, providing an open, warmer view day or night. The building's floor plan also permits wide spans, relatively few columns, and the attraction of a great deal of natural light The building is a result of a design-build competition conducted by the NYC Economic Development Corporation, which originally controlled the site.

The design and development team of Gran Associates and ddm Development were awarded the project. Nina Demartini-Day, a principal of ddm Development, said her firm has long been active in the neighborhood and has established itself as a trusted long-term partner dedicated to housing and community facilities.