At the Janus Property Company, we specialize in complex, independent- and forward-thinking developments that directly influence lives.
Since 1989, our work has spoken for itself, establishing our reputation for creativity, integrity and success. Purposefully connecting, thoughtful and meticulous with details, we judge ourselves not by the volume of our output, but by the breadth and depth of the positive impact created by our projects.
The Janus Property Company is formed with a goal of participating in New York City Mayor Ed Koch’s new initiatives to produce low- and moderate-income affordable housing. Janus develops five projects in Central, East and West Harlem and is among the first developers in the country to use Federal Low Income Housing Tax Credits (LIHTC). Janus opens its main office on West 126th Street in the beautiful West Harlem neighborhood of Manhattanville. It will remain on this block for the next 35 years.
Janus expands beyond housing, acquiring three obsolete and adjacent warehouse buildings at Amsterdam Avenue and West 126th Street, fully renovating and combining them into the “Mink Building” in honor of its decades as a renowned fur storage warehouse. It unknowingly kicks off what will ultimately become the 1.5mm rsf Factory District and Innovation Triangle-West Harlem. Subsequent to his role as Deputy Commissioner of the New York City Department of Housing Preservation and Development, Jerry Salama joins Janus as Principal. Janus re-develops a three-block neighborhood consisting of sixteen buildings just north of Central Park utilizing syndicated LIHTC equity and federal HOME funds.
In the same revitalized neighborhood just north of Central Park, Janus creates a unique moderate-income housing development, combining a gut renovation with new construction, financed with credit-enhanced taxable bonds. Janus creates the first-of-its-kind institutional equity fund with the sole purpose of making direct real estate equity and equity-like investments in New York’s low- and moderate-income neighborhoods without relying on government subsidies. The Fund utilizes a unique two-tranche equity structure and a CRA line of credit, ultimately rewarding its investors with accomplishment of mission matched with exceptional risk-adjusted financial returns and double-CRA credit as a unique and innovative investment. Columbia University announces it will expand its campus north, creating what will become the second vertex of Innovation Triangle-West Harlem. The New York Structural Biology Center, a world class consortium of nine academic research organizations, opens on the City College of New York campus.
Janus acquires three lots adjacent to the Mink Building containing five obsolete industrial buildings. Four of these buildings will ultimately be combined with a new construction vertical expansion creating the “Malt House.” Janus acquires two buildings adjacent to the Malt House, originally known as Sweets Laboratories, a confectionery where Dentyne gum was created. Redevelopment of these buildings begins. The Architectural League of New York holds its "Dot Dot Dot" Beaux Arts Ball at the Mink Building. The Manhattanville arts and culture scene continues to grow with Triple Candie, Chashama, Mika Rottenberg, Laleh Khorramian and Miguel Cardenas all housed at the Mink Building and Malt House. SoHarlem, a place-based social enterprise incubating creative entrepreneurs and artisans opens at the Mink Building. In conjunction with SoHarlem, renowned street artist, Manny Vega, installs a permanent mosaic over the Mink Building entry representing the neighborhood’s pre-history and hinting at Janus’s future creation of a multitude of private, semi-private and public green spaces for tenants and neighbors alike.
Janus wins the New York City Economic Development Corporation’s Request For Expressions of Interest to redevelop the unsafe, deteriorating Taystee Bakery complex in the Factory District. Janus begins acquiring neighboring sites to the Taystee Bakery site in order to create the most efficient new lab building floorplate possible. Janus acquires the Roastery Building in the District and starts its restoration. New York City Department of City Planning, in conjunction with Community Board 9 and Borough President Scott Stringer direction and support, rezones the Factory District into one of the few Special Mixed-Use Districts ever created in New York City. The City University of New York Advanced Science Research Center and City College of New York’s Center for Innovation and Discovery open on City College’s campus, creating the third vertex of Innovation Triangle-West Harlem.
The New York City Landmarks Preservation Commission holds Backlog Initiative public hearings resulting in the de-calendaring of Factory District buildings, opening up the prospect of Janus’s master-planned Factory District neighborhood revitalization. Gavin Brown’s Enterprise moves to the Factory District’s Malt House. The complex 200,000 rsf Malt House construction begins, above, alongside and below this internationally-renowned gallery. The 150,000 rsf complete conversion of the Mink Building from cold storage warehouse into research laboratory use begins. Quentis Therapeutics selects the Mink Building in its move from Alexandria Center in lower-Manhattan. The 350,000 rsf Taystee Lab Building construction begins. Paul Goldberger hosts AIA Archtober panel discussion focused on Janus’s Factory District entitled “Connections.” JPMorgan Asset Management joins Janus’s Taystee partnership. Plowshares Coffee Roasters opens in the Roastery Building.
New York State shuts down all “non-essential” construction state-wide including the Mink Building, Malt House and Taystee Lab Building, due to the Coronavirus pandemic. After the State lifts the order while Covid still rages, Janus completes all three projects, attracting Volastra Therapeutics from J Labs and Hemogenyx Pharmaceuticals from SUNY Downstate. The Taystee Lab Building earns LEED-certified Silver status and wins a Big Apple Brownfield Award. Janus acquires 437 West 126th Street/428 West 127th Street, expanding its unique growing urban campus. Communitas America opens Heyground Harlem in the Malt House, its first American home, cultivating an ecosystem of innovation, entrepreneurship and community to accelerate the social impact sector. Eater New York names Plowshares Coffee Roasters one of the best coffee shops in New York City. Architectural Digest Magazine highlights the interconnecting landscaped pathways and pedestrian plazas connecting the West Harlem community to the Factory District from West 125th Street to 128th Street. The Studio Museum of Harlem moves to the Factory District. New York Magazine’s “Curbed” column highlights the Malt House, calling it “an artful assemblage” and “a work of sensitive architecture.” The Chan Zuckerberg Biohub announces a new bio-medical research hub will be located in Innovation Triangle-West Harlem. Two of the Studio Museum of Harlem’s 2023 acclaimed Artists-in-Residence, Charisse Weston and Devin N. Norris, move into private art studios in the Factory District upon completion of their residencies. Harlem Biospace @ Mink step-out graduation space with shared and private labs opens in the Mink Building.
