NEW YORK CITY — Madison Square Realty has negotiated a 20,000-square-foot lease for Carver Federal Savings Bank at 1825 Park Ave. in Harlem following the $20 million sale of the bank’s historic headquarters at 125th St. in February. The building had been fully occupied by Carver since 1958. Carver leased the top floor of 1825 Park Ave., which offers views of Harlem and Manhattan. Madison Square Realty CEO Eric Yarbro facilitated both the building sale and the new lease on behalf of the bank. Savanna, the owner of the 12-story building at 1825 Park Ave., also known as the Lee Building, recently completed a capital improvement plan for the property that resulted in it becoming the first ever Wired Certified Gold building in Harlem. Mitch Arkin of Cushman & Wakefield and Ellen Israel of JRT Realty represented Savanna in the lease transaction. Carver was founded in 1946 and is the nation’s largest bank founded and run by African-Americans.
Carver Federal Savings Bank has leased 20,000 square feet at the 12-story Lee building at 1825 Park Ave. in Harlem.
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