A former parking lot in Harlem that now sits vacant, growing weeds, is poised to be redeveloped into residential housing, according to information from the builders.
Midtown-based real estate firm Haussmann Development has inked a deal to purchase a roughly 10,166-square-foot lot at 16-20 Convent Ave. for $7.5 million. In its place Haussmann plans to construct a 10-story building with a total of 75 apartments, a fifth of which would be set aside as affordable, company principal Josef Goodman announced today.
The proposed mixed-income building would be developed through 485-x, the affordable housing tax break that replaced 421-a in last year’s state budget, and City of Yes, Mayor Eric Adams’ initiative to combat the city’s housing crisis by spurring development in otherwise low-density neighborhoods.
It would be one the first projects in the city to capitalize on both programs in order to bring much-needed units online, Goodman said.
The existing lot between West 127th and West 128th streets is in an area predominantly characterized by low-rise townhouses and within a mile of multiple cultural and educational institutions, including the Apollo Theater and Columbia University. The seller is an entity named Global Asset Management, according to information from the developer.
Construction is expected to break ground at the end of this year and wrap in the spring of 2027. The architect tapped for the project is Nickolas Kazalas, whose design firm, NDKazalas Architecture, is based in Astoria.
The building would include various amenities, including a fitness center, a lounge, bike storage, a rooftop terrace and a child care facility. Fifteen of its 75 units are slated to be set aside for those earning 60% of the area median income, which for a family of three is $87,480, according to information from the city.
The forthcoming development would be Haussmann’s fifth in Upper Manhattan and add to the firm’s existing portfolio of about 600 residential units across all income brackets. A few of its notable projects include The Duke at 521 W. 134th St. in Harlem, the Eve at 827 Sterling Place in Crown Heights and Arris Grand at 445 Grand Ave. in Clinton Hill.
