Cycle Therapy to lose property?

Parking, Maintenance, and Such

Cycle Therapy to lose property?

Postby Jillian » Sat Feb 05, 2011 10:11 am

I just read this in the NY Times this morning.
The city is looking to condemn a swath of properties around 125th street to create an East Harlem arts space
Jacob Toledo, the owner of Cycle Therapy, runs the city’s largest motorcycle dealership in a refurbished five-story building on East 127th Street. Rows of new and used Triumph, BMW, Honda and Yamaha motorcycles and scooters line the neat shop, while the smell of oil hangs in the air. Mr. Toledo says he may be forced to close his business permanently if the city takes his land.

Five years ago, he said, he crisscrossed the city looking for a new location after he was pushed out of a site on the West Side of Manhattan by new zoning and rising real estate values.

Only days after buying the orange-colored building in East Harlem, Mr. Toledo said he learned that the property might be condemned.

“I don’t think we can find any place in the city that can fit my business,” he said. ... urnal.html

Oh jeez, Bloomie, industrial areas add value to NYC, too! :cry:
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