The legal two family family house, at 115 West 120th Street and Lenox Avenue, is another one of those houses priced above $2 million and in this case, it just went into contract. The 20 foot wide(!), 5 bedroom, 3 bath, 3,000 square foot home with a separate garden apartment, has been on the market a little over three months and just entered into contract last week. The property started out at the very end of January with the initial asking price of $2.6 million. By the first week of April, the price would go through a second chop and land at the final asking of $2.3 million. Most of the interior woodwork has been restored in this one and there's even a wood-paneled bathroom with the original subway tiles (the floor looks like it needs some work though). Did anyone get to see the kitchen? Since there are no photos, we are guessing that it probably needs to have a bit of an upgrade. Location wise, this house is just a hair outside the Mount Morris Park Historic District and around the corner from the boutique restaurants on Lenox. Thoughts? House photo by Ulysses
The legal two family family house, at 115 West 120th Street and Lenox Avenue, is another one of those houses priced above $2 million and in this case, it just went into contract. The 20 foot wide(!), 5 bedroom, 3 bath, 3,000 square foot home with a separate garden apartment, has been on the market a little over three months and just entered into contract last week. The property started out at the very end of January with the initial asking price of $2.6 million. By the first week of April, the price would go through a second chop and land at the final asking of $2.3 million. Most of the interior woodwork has been restored in this one and there's even a wood-paneled bathroom with the original subway tiles (the floor looks like it needs some work though). Did anyone get to see the kitchen? Since there are no photos, we are guessing that it probably needs to have a bit of an upgrade. Location wise, this house is just a hair outside the Mount Morris Park Historic District and around the corner from the boutique restaurants on Lenox. Thoughts? House photo by Ulysses
I’m usually the first to criticize Harlem brownstone pricing, but in this case, it’s definitely in the ballpark. GREAT! - 20 ft wide, original details, ultra prime block, and proximity to Mt.Morris Park. The 4 pictures alone puts this townhouse in the house porn category.
ReplyDeletejust beautiful.
ReplyDeleteAlthough it's beautiful, for some reason I prefer the modern interior brownstones. Some of these homes look outdated, and indeed many are. I appreciate the artistic background of the original details in these homes. Nevertheless, they are also boring.
ReplyDeleteguess boring sells at top dollar!
ReplyDeleteOriginal details do sell better according to most RE brokers in Harlem.
ReplyDeleteBut I think there is a way to modernize without turning into a loft - through painting of woodwork (some say this is a crime but I disagree), choice of furniture, etc.
It's definitely as prime as Harlem gets in terms of width, location, block, original details, etc.
Anyway have seen the inside - bathrooms/kitchen needs updating but nothing structural or electric or plumbing wise ... but high-end buyers often don't mind customizing these things ...
I wonder what it went for....
ReplyDeleteI saw the inside - lots of the wood restored with a fair amount remaining to do (the shutters).
Lots of work needed as well to bring the house up to the standard of the (few) photos on the listing - new kitchen, new bathrooms, central air, the other floors - only the parlor floor front room looks pristine...
Agree w/ above .. shutters needed work but other woodwork in good shape.
ReplyDeleteTop floors really just need paint and bathrooms.
Central air probably a wise investment at this price point.
This place could have no electricity ang giant flying rats and I would still live there. The bathroom is insane. It would look even better with some black marble floors. I would kill to design this place. It's like the holy grail of wood work.
ReplyDeleteLove this place. I doubt it sold for over $2MM. Fact - public sales records* do not indicate any townhomes in Harlem sold for over $2MM in the last year. This is a fact.
ReplyDelete*Source = Streeteasy
I double dog dare someone to dispute this - with facts of course.
We'll need to see the final prices of what has gone into contract - think a handful of these are more than $2 million, but they haven't closed yet.
ReplyDeleteThe best data point for this one is the house across the street. That sold for $1.495mm in a worse market, but that needed serious facade and structural (stairs, roof, etc.) and demo work whereas this is primarily cosmetic. It's gut reno vs. $300k update.
The broker for this house is also the next door neighbor who purchased her nearly identical home at the peak of the market for 2.475 in 2008. I would guess she's hoping to keep the sale close to the two range just to keep her home value up, especially given the sale across the street of 1.5
ReplyDeleteStop wondering; appraiser running all over Harlem with a long list of TH's.. beside himself trying to get numbers to satisfy a bank. Turns out this building is a SRO- paper trail is a mess. In contract with Upper west siders John Koeppel and Terezia Manczur (he owns car dealerships and she is a doctor) money, money,money. Everyone who ever lived at 215 West 120 has been alerted to come back and claim their space....these RICH people should look for another TH. They think they are OK because Koeppels know people downtown, that does not fly in Harlem, when it comes to taking homes from the poor- where are POOR people who should be living in SRO rooms supposed to go. The Koeppels should hire a broker to find them a legal TH, or buy a larger co-op on the upper west side.
ReplyDeleteAnonymous says T should hang out in the hospital and when the forclosure comes in she should buy it. The sleezy next door neighbor broker should suck it up and just relaize she paid too much.
ReplyDeleteWhen dealing with the Koeppels with price negotiations be aware that they own two premium co-op's between central park west and columbus and a townhouse in London, when they plead poverty dont be fooled.
ReplyDeletePlay nice, but I did hear that the broker TS got a new red car out of the deal and the house has not even closed, I wonder if the seller knows.
ReplyDeleteThe Koeppels are wonderful people and I think it's important to note they will not be the owners of 115 West 120th Street and they aren't the owners of 116 West 120th Street. When they do move to Harlem, it will be a great addition to the community. If TS refers to Todd Stevens, I don't own or have any automobiles, while I did just sign up for a zip car account.
ReplyDeleteJust to close out the story, this place sold for 1.975M on 8/20/10
ReplyDelete