Harlem Children’s Zone pays $8.9M to Texas-based Lennox Capital Partners for retail in Harlem

Harlem Children’s Zone through the entity 381 Lenox Acquisition, LLC paid $8.9 million to Lennox Capital Partners through the entity 381 Lenox Retail, LLC for two retail condominium units at 381 Lenox Avenue in Harlem, Manhattan. The expected use is owner-occupied.
The deal closed on June 25, 2025 and was recorded on July 10, 2025. The two properties have 12,045 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $738 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Lennox Capital Partners was Richard D. Squires . The signatory for Harlem Children’s Zone was Kwame Owusu-Kesse. The contract date was May 30, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Harlem Children’s Zone had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Lennox Capital Partners had not purchased any other properties and had not sold any properties over the same time period.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

Development

For the tax lot buildings, one out of the two buildings received a initial certificate of occupancy in the last ten years. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Harlem, The bulk, or 43 percent of the 81.1 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 30 percent of the space. In sales, Harlem has 2.6 times the average sales volume among other neighborhoods with $697.9 million in sales volume in the last two years and is the 13th highest in Manhattan. For development, Harlem has 3 times the average amount of major developments relative to other neighborhoods and is the 8th highest in Manhattan. It had 4.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On the tax block of 101-105 Lenox Avenue, PincusCo has identified the owners of eight of the 22 commercial properties representing 69,248 square feet of the 172,339 square feet. The largest owner is New York City Department Of Housing Preservation And Development, followed by West Harlem Group Assistance and then Eyal Ovadia.
On the tax block, there was one new building construction project filed totaling 4,195 square feet. It is a two-unit, 4,195 square-foot residential (R-3) building submitted by Yaniv Zohar with plans filed May 5, 2025 and it has not been permitted yet.

The majority, or 52 percent of the 172,339 square feet of built space are walkup buildings, with elevator buildings next occupying 45 percent of the space.

The buyer

The PincusCo database currently indicates that Harlem Children’S Zone owned at least one commercial property in New York City with 0.0 square feet and a city-determined market value of $12.4 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single V1 property.

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