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Newmark Markets Prime Development Site in Harlem

Newmark has been retained to market the sale of a prime development site at 1975 Madison Ave. In Harlem. Located at Madison Avenue and 126th Street, the property is zoned for 80,942 square feet, totaling 101,714 gross square feet, and sits on a 15,166-square-foot, shovel-ready lot.

The turnkey asset is vested in the 421-a program and is located in an opportunity zone with approved plans. Executive managing director Ron Solarz represents ownership on the offering. 

The development site marks one of the city’s last projects eligible under the now-expired 421-a affordable housing program. Additionally, it provides access to an investment market that faces continued housing supply constraints. 

“1975 Madison Ave. presents one of the most ideal investment opportunities in today’s market,” said Solarz. “The asset’s location in a rapidly developing neighborhood with high demand, coupled with it being vested in 421-a with approved plans, creates an attractive development site opportunity.” 


Inside The Story

Newmark's Solarz

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Development
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