Melin Group pays $12.8M for grocery building in Harlem, possible dev site

Melin Group, which is affiliated with grocery stores, through the entity Melin Group 3632 LLC paid $12.8 million to an affiliate of Robin McCammon and Gary Meyer through the entity CKMR Corporation for the retail building (K1) at 3632 Broadway in Harlem, Manhattan. Some brokers say it could be a good development site.

CKMR Corporation is an affiliate of the Leo Meyer-founded supermarket chain Sloan’s Supermarkets, which once claimed as many as 40 stores in the city but closed in the 1990s.
The deal closed on June 10, 2025 and was recorded on June 16, 2025. The property has 9,540 square feet of built space and 50,659 square feet of additional air rights for a total buildable of 60,151 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,341 and the price per buildable square foot is $212 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 Robin McCammon and Gary Meyer was Robin McCammon. The signatory for Melin Group was Jaime Luna . The contract date was March 7, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Melin Group had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Nathaniel Plotkin had not purchased any other properties and had not sold any properties over the same time period. The 9,540-square-foot property generated revenue of $465,773 or $49 per square foot, according to the most recent income and expense figures.

The property

The retail building in Harlem has 9,540 square feet of built space and 50,659 square feet of additional air rights for a total buildable of 60,151 square feet according to a PincusCo analysis of city data. The parcel has frontage of 99 feet and is 100 feet deep with a total lot size of 9,992 square feet. The zoning is R8 which allows for up to 6.02 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $2.8 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $150 in OATH penalties in the last year.

Development

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 2.9 times the average sales volume among other neighborhoods with $768.9 million in sales volume in the last two years and is the 12th highest in Manhattan. For development, Harlem has 3.5 times the average amount of major developments relative to other neighborhoods and is the 8th highest in Manhattan. It had 4.2 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 this tax block, PincusCo has identified the owners of six of the 26 commercial properties representing 86,447 square feet of the 272,791 square feet. The largest owner is Moses Mizrahi, followed by E&M Associates and then Cora Parks.
There are no active new building construction projects on this tax block.

The majority, or 79 percent of the 272,791 square feet of built space are walkup buildings, with elevator buildings next occupying 17 percent of the space.

The buyer

The PincusCo database currently indicates that Melin Group owned at least two commercial properties in New York City with 17,550 square feet and a city-determined market value of $5.3 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are retail properties. They are all located in Bronx.

Direct link to Acris document. link