Harlem Area Update
Charlie Lewis, an Associate Broker for Warburg Realty, gave to an audience of Brokers and Sales Associates, a detailed update on Harlem during REBNY’s monthly Residential Sales Council Meeting on April 13th, 2016.
Young families, couples and active youngsters are rapidly moving uptown to revitalized neighborhoods including Harlem, Washington Heights, and Inwood. Once the home of such notable figure as Alexander Hamilton, one of our founding fathers whose house was constructed in 1802, Harlem which is part of upper Manhattan, is a neighborhood that has a rich cultural heritage to offer.
At the corner of 110th and Central Park NW, CIRCA is a distinctive new addition by New York Architect FXFOWLE. Achieving amazing LEED certification with 38 units, this 11 story high building is not only green, environmental friendly but also a new landmark to this wonderful area of Harlem overlooking Central Park.
Mr. Lewis, also noted that ideally situated in the heart of the vibrant and storied Harlem was another large developpment, AURUM, that is located at 171 West 131ST Street with over 100 units. Prices are extremely affordable with 1 bedroom starting at $1,200 a square foot.
Another exciting news about Harlem, is the Uptown Open House Expo that will be held on Sunday April 16th from 10 am to 11:30 am at the Row House at 2128 Frederick Douglass Blvd, followed by a City Bank sponsored Broker's house tour with a selection of roughly 20 showcased properties. With attractive prices ranging from Co-ops in the $300,000-$449,999, competitve Condominums on Madison Avenue and Fifth in the $450,000-$699,000, all the way up to high-end Townhouses with backyard gardens located on a quiet and luxurious tree-lined street ranging from $2,000,000 to $5,000,000.
Mr. Lewis continued on discussing the trend of price increase for pre-war townhouses which are now reaching as high as the $5,000,000 mark. Top Duplex with their private staircase, rooftop decks as well as a balcony towering over a specific street block and offering endless views of the city are some of the unique features these properties have to offer to discerning potential buyers.
Harlem is also seeing an arrival of top restaurants with creative Chefs such as the Grey Goose restaurant which is opening a new branch there. New Cuban restaurants and Jazz joints are popping up with young entrepreneurs creating new brands. Thanks to excellent creative energy and new frontiers that are being moved, Harlem is rapidly becoming the next Willamsburg or Chelsea. Columbia University greatly contributed to this cultural resurgence with the addition of its new campus deap into Harlem.
Lastly, the project of a new Port Authority Terminal to serve the upper New Jersey area from Harlem will be the next hot topic at the upcoming community hall discussion which will further reinforce Harlem as an important and well connected hub in New York City.
Harlem shows us that affordable properties and luxury townhomes coexist well, as much as historical landmarks are witnessing new ones being buit, and the culture rich diversity attest of the new path that Harlem has taken.
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