This iconic 1906 Harlem loft building sat vacant for over four decades, falling into massive disrepair when Blesso Properties first toured it in 2005. In spite of its poor condition and a challenging location the developer quickly identified the tremendous potential of the project and moved quickly to acquire the site. The property boasted excellent subway access, central park views, high ceilings and other unique architectural features including the distinctive Roebling Arched ceilings. The original eight story structure was expanded by 18,000 square feet through four additional terraced floors at the top of the building for a total of 52,000 square feet. The modern glass and steel expansion complemented the existing masonry structure while the state-of-the-art interiors took advantage of the unique barrel-vaulted terra cotta ceilings, exposed brick walls, and unobstructed views towards Central Park and Midtown. The finished design boasted a level of architectural quality previously unseen in Harlem.
Potential buyers quickly recognized Loft 124 as the first true loft project of its kind and the finest residences in the neighborhood. The twenty one new residential units received critical acclaim while selling at record prices. Blesso Properties was one of the first developers to recognize the shifting demographics of Harlem and execute a luxury project in this exciting new emerging market. In spite of what some considered a marginal location, Blesso Properties launched sales at a higher than expected valuation and continued to raise prices throughout the marketing process. Loft 124 continued to have strong sales through 2008 even as the real estate markets grew increasingly soft as a result of the downturn.