Opportunities Open Up for Opportunity Zone Investors in Harlem – Real Estate Weekly

The Victoria project, which is located 233 West 125th Street, between Frederick Douglass Boulevard and Adam Clayton Powell Jr. Boulevard, is sponsored by the Harlem Community Development Corporation. It is financed by Goldman Sachs, the Upper Manhattan Empowerment Zone and the Empire State Development Corporation.
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To qualify for the Opportunity Fund, it must create 300 permanent jobs created and invest over $32 million in minority and women business enterprises (MWBE).

By Sabina Mollot

The developers of a mixed-use project that’s being touted as a part of the ongoing Harlem renaissance are seeking Opportunity Zone (OZ) investors.

Exact Capital and Lam Group, the team behind a $178 million project that includes a 211-room Marriott Renaissance hotel that topped off in July, the historic Victoria Theater and mixed-income housing, have put out an offering memorandum.

Eric Anton of Marcus & Millichap is marketing the deal.

The project, which includes a 27-story residential building with 191 apartments, 90 of which will be set aside as …