La Marqueta Redevelopment Financial Feasibilty Analysis
BJH was on a team with an architect, engineer, and cost estimator hired by NYCEDC to study and propose redevelopment scenarios at La Marqueta to support its mission of establishing a vibrant multi-tenant food and retail marketplace in East Harlem. BJH created a pro forma to compare the financial feasibility of the team’s three redevelopment scenarios. In addition, BJH utilized projected rents and assessed operating costs at similar multi-tenant industrial properties with varying operating structures to demonstrate opportunities to reduce expenses and increase the projected net operating income following redevelopment.
