Hot Today, Gone Tomorrow
If you're curious about what's on the market today or if you're just looking for something to do this weekend, why not dabble in one of my favorite pastimes? Here are a few of the Open Houses taking place this weekend in Harlem.
Pipin' Hot Bagel For Sale: A two-bedroom, two and a half bath loft with 24' vaulted terra cotta tile ceilings, bamboo floors, remote controlled gas burning fireplace and a south-facing balcony. Located on West 124th Street between Lenox and Adam Clayton. Asking $1.85 Million. Open house this Sunday at 2:30.
Warm Bagel with Shmeer: A two-bedroom, two-bath with south and east exposures, pass-through kitchen and washer/dryer. Located on East 118th Street between Second and Third Avenues. Asking 643K. Open House this Saturday at 11 and Sunday at noon.
Nice & Toasty Bagel For Sale: 1,600 Square foot classic 6 in Prewar building, six blocks from Central Park, with decorative fireplace and french doors. "Needs TLC". Located on Seventh Avenue and 117th Street. Asking: $460K. No financing/cash only. Open House this Sunday at 12:30.
posted by Rachel Natalie Klein at 8:56 AM
10 Comments:
Loft 124 is very overpriced. But if they do sell at those prices, hey - great for us!!
On the Pipin Hot Bagel, This can't be right. Just read a comment on Curbed and I agree that if the numbers in that listing are correct, that would mean they're asking $948 per square foot for this space. "A condo with a view in 111 Central Park North could probably get that, but not a building on an anonymous stretch of 124th Street. I predict an empty open house."
Seems like Harlem is becoming no longer affordable. I'm sadden to see even StuyTown, which is a carbon copy of Riverton in Harlem - one of the last bastions of affordable housing in Manhattan - probably going luxury ...
Read this :
http://dealscape.thedealblogs.com/2006/10/dealwatch_stuyvesant_town_peter_cooper_village_auction.php
I saw the 25-foot ceiling place at Loft 124. It is unreal. The broker says there's a contract out on one of them to a "high profile individual" over the asking price. There goes the neighborhood indeed!
"A two-bedroom, two-bath on East 118th Street between Second and Third Avenues. Asking 643K."
Absurd. Unless the buyer plans to stay for the next 30 years they are taking a mighty big gamble. 643k can still get you something nice in the 'burbs or even Manhattan at a much better location than 118th & 2nd. Some poor naive couple from Sacromento or Austin is likely to get burned plunking down for this joke.
Oops. I have nothing against the folks from SacrAmento, but I should at least be able to type/spell right before I use them for my real- estate-sucker spiel.
Historically, real estate prices overreach the services etc in gentrifying neighborhoods.
The suckers are those left behind the wave.
Also real estate is a long term investment, Harlem has plenty of upside when viewed as part of Manhattan.
Overpriced by what measure? Pricing for their units starts at under $600 PSF which is in line with most of the other new developments up there. The 6th floor apartments are truly one of a kind. There is no comparable to how to price those units because nothing else in Harlem even comes close. When you consider that the same apartment downtown would probably sell for $2500-$3000 SF $948 doesn't seem that high.
The apartment might be the greatest thing in the world but its still in Harlem and I don't think you can compare it necessarily to what it would sell for downtown. I agree though that the prices on the lower floors are quite reasonable as they are actually less than those at the Lenox, Lenox Grand and 10 Mt Morris Park and are significantly nicer.
With these high price per square foot apartments with super high ceilings.
The high ceiling apts may be better compared at price per cubic foot.
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