Major hotel project slated for Harlem: 585,000 s/f

Major hotel project slated for Harlem: 585,000 s/f

Marriott Corporation, and 1800 Park Ave LLC, a newly formed entity, announced last week the construction of a 585,000 square foot mixed-use development including Class A office and retail space, as well as Harlem’s first major hotel, a Marriott Courtyard.

The facility will be located in the heart of Harlem on the corner of 125th Street and Park Avenue, just a few feet away from the Metro North train station. The project, designed by Enrique Norten of the architectural firm TEN Arcquitectos + Designgroup International, will break ground in the first quarter of 2004 and is scheduled to open in December, 2005.

The $190 million project is being developed by 1800 Park Ave LLC–which includes prominent developer Michael Caridi of Majic Development Group, and Raymond Caldiero, the former vice president and assistant to the chairman of Marriott Corporation and former Vice President of Northwest Airlines. The project is being built on the site of a 35,800 square foot parking lot currently owned by the New York College of Podiatric Medicine.

The project comprises a total of 29 floors, as well as three underground parking levels capable of accommodating up to 300 cars. The 250,000 square feet, Class A office space, will be accessible through the main entrance on Park Ave. The 125,000 square feet, 14-floor hotel will feature 208 guestrooms/suites and will be accessible from the main entrance on 125th Street. In addition, there will be 38,000 square feet of catering space as well as 15,000 square feet of space set aside for a jazz club. Amenities include a four-story atrium, bar/restaurant, express elevators from lobby to hotel floors, 2 main ballrooms, pool, terrace, and state-of-the-art health spa.

“The building of the first Marriott hotel in Upper Manhattan represents a decisive milestone in the evolution of Harlem. We believe that tourists from around the country and the world will want to sample the unparalleled energy of this historic neighborhood,” added Raymond P. Caldiero, a member of 1800 Park Ave LLC.

“In recent years, Harlem has proven its value to both residential and office developers. We believe the time is right for a Marriott hotel in the heart of Harlem,” said Michael Caridi, Developer & Managing Member/Majic Development Group, LLC, who was also involved with the development of The Holiday Inn on 57th Street.

“We are thrilled to announce this landmark project. Harlem Park represents an important step in the re-development and revitalization of Harlem, and we could not be more excited to be planting roots in this vibrant neighborhood,” said Eric Westbury, President and CEO of SBM Certificate Company and the major equity contributor to the project.

“Harlem Park is, quite simply, living proof that Harlem has turned a corner,” said Jeff Fried, a principal of 1800 Park Ave LLC. “This neighborhood has the economics to support a development of this size and the building of Harlem Park proves that Harlem has become a truly global destination.”

“I am thrilled to be a part of the remarkable vision for Harlem. The addition of the Harlem Park project will compliment the renaissance of Harlem and has the potential of becoming a important source of community pride,” added philanthropist and honorary President of baseball’s American League Jackie Autry. Mrs. Autry is an investor in the project.

President of Def Jam Records, Kevin Liles added “Harlem has a vibrant and rich history. It has cultivated amazing talent in the arts and is a pivotal part of not just African American culture, but American culture and history. I’m excited and honored to be a part of such an important project for the Harlem community, culture and history.”

COPYRIGHT 2003 Hagedorn Publication

COPYRIGHT 2003 Gale Group