We have been taken a look at the condo market each Thursday and The Fitzgerald (257 West 117th Street) has been on the radar since it was one of the first boutique style constructions that arrived in Harlem around the end of 2007. According to Streeteasy, out of the building's 47 units, most of the 17 that sold in 2008 was at full asking price but by 2009, only 3 units would close with around 8% price cuts: LINK
Summer 2010 apparently was the time buyers looking for deals came back to market since 6 units just closed at that time and a $1.6 million sale just went through this month. Add on the 1 unit sale in early spring and the building total is now at 28. Average price chops seem to be around the 7% mark with one extreme cut of 16% this year (there's also 1 recent contract out). Common charges range from $700-$1,600 per month depending on the size of the units and recent sales seem to be roughly around the $500 per square foot mark.
The buildings is less than a block away from the shops at FDB/8th Avenue and the B,C train at 116th Street. Anyone seen the apartments in this building? www.theFitzgeraldCondos.com