Number 357 West 121st Street went on the market at the end of March, went into contract in May and now has set a record sale that surpasses all other Harlem townhouse sales since the market crashed. The 16-foot-wide, 3-family home has a solid South Harlem location that is right around the corner from Morningside Park, close to the FDB retail corridor and a short walk distance to the express trains at 125th Street. Renovated interiors that update the infrastructure but keep the character of the original home probably helped find the right buyer also. According to public records, the house sold over the asking price of $2.85 million and finally closed for a cool $3 million about a week ago. Check out more photos and details on this South Harlem home at the broker site:
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Definitely overpaid!! The previous record holder is a much more gracious townhouse with an awesome layout from top to bottom. For $3 million, you get a kitchen with a non-built-in fridge right off the master bedroom?!? There's no proper master suite and all in, a glorified 3 bedroom house.
ReplyDeleteLocation, location, location.
ReplyDeleteDarlene is spot on.
ReplyDeleteDarlene is correct about location, in addition, the right price is whatever the market will bear. As for refrigerator location and other details, a savvy buyer will know it is easily rectified. In fact, most brownstoners want to modify to make their own statement within a home.
ReplyDeleteAgree with location - if you follow the market it seems to be saying the desirability of location within Harlem is as follows: 1) South Harlem west of FDB 2) broader Mt. Morris area (not just the current historic district but the just East of Lenox and to some extent the first blocks sbove 125th) 3) The historic districts in West Harlem (Hamilton Heights, Striver's Row, etc) 4) Everything else. People will jump all over me for saying this of course, and I would even agree the architecture in West Harlem is probably the nicest, followed cloesly by Mt. Morris (where I live). But people pay for amenities, proximity to the city, and school districts (Most of "South Harlem" shares District 3 with the Upper West Side) and the first two win there. All of that said, I would never say quality of renovation doesn't matter. Almost everything that has sold for $2mm + has been fully renovated, with updated kitchen, bathrooms, a/c, etc. This particular house may not be amazingly high in style points from everybody's perspective (mine included), but it's turnkey and has some original detail.
ReplyDeleteIt would be interesting to see a Harlem map color coded by price per square foot.
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