2016 - Economic Development Award

The Site was used as a gas station and auto repair shop from 1951 through2010. The City of New York obtained title to the property through condemnation proceedings in 1974 which were part of a larger area wide urban renewal project. In 1996, 110th Street Service Station Inc. purchased the property from the City through the NYC Economic Development Corporation to secure financing for improvements. The deed from the City to NYCEDC included a right of re-acquisition for the Grantor (the City). in 2010 NYCEDC had the City assign the re-acquisition option to NYCEDC, which NYCEDC then exercised to redevelop the property through a competitive bidding process.Based on the benefits to the community, the project proposed by Cresent 110 Equities(Artimus) won the bid and obtained title from NYC.