Loft 124
This 1906 warehouse loft building had sat vacant for over four decades and was in massive disrepair when Blesso Properties purchased it. Blesso Properties took advantage of the unique barrel-vaulted terra cotta ceilings, exposed brick walls, and unobstructed views of Central Park and Midtown when designing the state-of-the-art interiors in-house. The addition of four floors on top of the existing structure makes this a residence of distinction in Harlem.
The goal was to build the finest residences in the neighborhood and these new duplexes and full-floor penthouses received critical acclaim while selling at record prices. In spite of a marginal location (a methadone clinic lies across the street), Blesso Properties was able to raise prices throughout the marketing process. Loft 124 continued to have strong sales even throughout the fall of 2007 and the winter of 2008 as the Harlem market grew increasingly soft. The sale of the eleventh floor penthouse was the first in Harlem to exceed $1,000 per square foot. Additionally, the building’s average sellout price of over $750 per square foot is also a record for a condominium north of 110th Street.