The Corn Exchange Building rehabilitation will preserve the landmarked building's historic façade while adding retail and office space.
The Corn Exchange Building was built in 1883 and is located at the corner of 125th Street and Park Avenue. Since the late 1970s, it has been vacant and fell into disrepair. The Landmarks Preservation Commission granted the Corn Exchange Building landmark status in 1993. In March of 2011, NYCEDC issued an RFEI for the site and ultimately selected 125th Street Equities LLC to redevelop the building.
The redevelopment project will include the rehabilitation of the historic building as well as constructing six additional floors, following landmark guidelines. The $17 million project will result in 9,000 square feet of retail space and 22,000 square feet of office space. There will be 60 construction jobs created and 90 permanent jobs created.