VICTORIA THEATER HARLEM
NYC Harlem's Premier Mixed-Use Project
The Victoria - Hotel, Residential, Retail, Theater & Parking
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Residential Address:
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Hotel F&B (Leased)
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233 West 125th Str. New York, NY 10027
230 West 126th Str. New York, NY 10027
Fee Simple
417,500
30
211
Q4 2022
Rooftop - 2,600 SF
Highest Rooftop lounge in all of Harlem
220 person capacity - Seated Banquet -, 3,730 SF Meeting Space, Lobby Bar & Lounge, Fitness Center,
Business Center
24,000 SF Retail
191 Luxury Apartments
(88 market, 38 mid-market, 65 affordable)
2 Theaters totaling 298 Seats and 28,200 SF
Live theater operated by the iconic Apollo Theater
55 Parking Spaces, 10,400 SF
Opportunity Zone Investment Eligible,
ICAP Tax Abatement, 421-A & 420-C Tax Abatement
Renaissance Hotels
Investment Opportunity
The Victoria ("the Property") is a brand new, iconic mixed-use. project along Harlem's main thoroughfare, 125th Street. The massive dual tower complex consist of the 211-room Renaissance Harlem Hotel, 191 Mixed-income apartments, a 298-seat theater, 24,000 SF of retail, and 55 subterranean parking spaces.
Iconic and high-profile Mixed-Use Project - The Victoria Theater was a 2,400 luxury vaudeville and motion picture theater designed by Thomas W. Lamb, one of the most acclaimed architects of the 20th Century. The original 1917 terra cotta façade and main lobby, including a grand staircase and ornate ceiling, have been masterfully restored and repurposed, inviting guest and residents for an upgraded version of the experience offers over 100 years ago. Upon the project's completion, the Property will be one of the tallest buildings in the corridor due to the height variance exception.
Renaissance Harlem Hotel - The Renaissance Harlem is the first full-service hotel to be built in over 100 years. As the only luxury hotel in Harlem and north of 110th Street in Manhattan, the Property will include event space, a ballroom, business center, and will feature the highest rooftop cocktail lounge in Harlem, unfettered views of Central Park, and the most luxurious hotel experience in the area. The Victoria also features prime retail frontage on both 125th and 126th Streets.
Residential Building - Spanning 150 feels with an entrance on 126th Street, the 191-unit mixed-income residential building provides market rate and affordable residential housing, which reduces the Property's tax liability for 35 years and is significant savings moving forward.
Victoria Theater - Less than half a block from its sister theater, the legendary Apollo Theater, both played a vital role in cultivating artists including Aretha Franklin, Michael Jackson, James Brown, Stevie Wonder, Billie Holiday, and Ella Fitzgerald. The Apollo Theater Group will operate two brand new black box custom-designed theaters in The Victoria. The neighborhood has historically been the setting for music, literature, dance, and art movements - collectively known as the Harlem Renaissance.
Undersupplied Market with Diverse Demand Generators - The Victoria is anticipated to garner significant attention as Harlem's premier tourist attraction. The Property is located a block from the State Office Building and is supported by both the government and the local community. The Property is the only high caliber, full-service hotel near Columbia University (undergoing a $6.3 billion, 17-acre expansion), Yankee Stadium, diverse corporations, and multiple large hospital systems.
Heart of Central Harlem's Economic Center - The Property is located between Frederick Douglass Blvd and Adam Clayton Powell Jr Blvd, with access available on both 125th and 126th Street. At the center of Harlem's Business District, the area has recently emerged as one of New York City's hottest submarkets with notable increases in population, income and rents. The Property will also benefit from its significant foot traffic, close proximity to several subway stops and bus lines, as well as Metro North's 125th Street station.