Harlem II

La Cité Development, through its wholly owned subsidiary, 60 West 126th Street, LLC, is currently developing a second phase of buildings in Central Harlem.

“Harlem II” consist of two sites located at 51 W. 126th Street and 60 W. 126th Street, both of which were awarded to La Cité Development by the New York City Department of Housing Preservation & Development through the Homeworks/203K program. The sites will be developed to create two 4-story buildings for condo construction, and will target the mid- to upper- end of the Harlem housing market.

Development costs for the two properties will total approximately $2.6 million. Construction began in November 2006, with an estimated timeline for completion of ten months. Marketing of the units will proceed through a lottery process, with 50% of all units being marketed to residents of Manhattan Community Boards 10 and 11, and an additional 5 percent marketed to uniformed officers of the NY Police Department, and 5 percent to Municipal Employees.