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Harlem
The Basics:
Harlem's new residents are strikingly diverse: straight and gay, black
and white, Asian and European. They’re here for the neighborhood’s
history and the immaculate houses on Strivers Row—plus fixer-upper
brownstones that cost 20 percent of what they would a mile to the
south.
Boundaries: The East Harlem/El
Barrio (Spanish Harlem) community stretches from First Avenue to
Fifth Avenue and from East 96th Street to East 125th Street.
Central Harlem stretches from Central Park North to the Harlem
River and from Fifth Avenue to St. Nicholas Avenue. West Harlem,
including
Hamilton Heights and Sugar Hill,
stretches from 123rd to 155th Streets and from St. Nicholas Avenue to
the Hudson River.
Subway stops: 6 to 110th Street
for East Harlem; 2 or 3 to 116th Street for Central Harlem; A, B, C,
or D to 125th Street for West Harlem. |
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OUTLOOK |
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What's new: The building boom
continues. A flood of co-ops and condos is coming onto the market next
year to satisfy the in-between market (that is, buyers with a decent
income who can’t afford a Strivers Row townhouse). Typical example:
The Sugar Hill Condominiums, a six-story luxury conversion at 146th
Street and Convent Avenue, will offer two- and three-bedroom units as
large as 1,900 square feet (prices are still TBA). Corcoran’s Vie
Wilson calls the development “dynamic.” “There are virtually no new
condominiums in Harlem,” she says. “They just don’t exist.”
Bargain hunting:
Head north (away from the encroaching Upper West Side) and east
of Fifth Avenue—especially over around Third.
Prediction: Rents have been flat, but sales of nearly
everything big have been rising. The best long-term growth should
occur with brownstones. “There’s a lot more product to sell
here—and people are interested in gentrifying.”
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Licensed real estate Broker, Copyright New York
City Apartments 1999, NYC. All information deemed
reliable but not guaranteed. Listings subject to errors, omissions, change
in price, prior sale,
rent and withdrawal without notice
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