Harlem Parking Garage Hits Market For $7.5M

HARLEM, NY — A Harlem parking garage is up for sale with an asking price of $7.5 million as a potential site for redevelopment, according to the real estate firm bringing the property to the market.

The 60-foot-wide building on West 132nd Street, located between Lenox Avenue and Adam Clayton Powell Jr. Boulevard, is being touted by Ariel Property Advisors for its "flexible" zoning regulations that could yield a residential, retail, community facility or mixed-use development. The property is located within the Central Harlem Historic District, according to the real estate firm.

"The property is ideal for both residential developers and owner-users looking to capitalize on Central Harlem’s strengthening market," James Nestor, associate director of investment sales for Ariel Property Advisors, said in a statement. "The conversion flexibility of the property and the central proximity to all Harlem has to offer makes this a rare opportunity for a wide range of potential owners."

The property currently functions as a 135-spot parking garage, most of which is located underground, with a vacant four-story building located above. Crosstown Parking Inc. bought the property in 2004, according to public real estate records.