Harlem development is on hold as sponsors scale back

Kimco Realty is considering abandoning a mixed-use development in Harlem, N.Y. The REIT and JV partner Sigfeld Group are not discussing why they are pulling out of the ambitious development, but speculation is they are not finding the necessary tenants for the project. Kimco CEO David Henry says he is "exploring retail development alternatives with several potential retail tenants." A sale is not in the works right now, he adds, but might be in the future.

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