The development site at 300 West 122nd Street, located on the corner of St. Nicholas Avenue in Harlem, will be forced into a bankruptcy auction scheduled on June 7th after the property owner, developer RGS Holdings, encountered numerous financial difficulties.
The 35,738-square-foot vacant assemblage carries approved plans for a 13-story mixed-use building, The Real Deal reported. The developer’s condominium version would have included 126 residential units, while the rental version would have had 183 units. Roughly 205,000 square feet of mixed-use development could be accommodated.
The property’s value is estimated to be between $60 and $70 million. Platt Byard Dovell White Architects (PBDW Architects) is responsible for the design of the original plans.