Rumour has it at that notices to close were sent for Fifth on the Park condominium yesterday. Fifth on the Park is one of two Harlem-based ultra-luxury condos and the first to reach this stage since the downturn.
Located on 120thand Fifth, the project is the tallest in Harlem and faces Marcus Garvey / Mt. Morris Park. It features multi-million dollar condos, parking, pool, gym, decks and other amenities.
Photo – Royce Douglas
The project was started over two year ago and has been delayed time and again. One of the founding members recently filed for bankruptcy, as reported on Curbed, Crain’s and the Raw Deal.
The sponsors claim to have enough solid contracts to close. However there does not yet appear to be a Certificate of Occupancy. Additionally it appears some buyers are seeking to get out of their deals and are networking and/or contacting the New York Attroney General’s Office.
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