Monday, December 28, 2015
TOP TEN: HARLEM NEIGHBORHOODS 2015
Number 10: Upper Lenox Avenue, Central Harlem, between 125th Street up to roughly 135th Street and the immediate brownstone side streets, not counting Astor Row. Upper Lenox drops to the Number 10 position from the 8th place this years since sales a bit further north have picked up but the core of Harlem has pretty much stabilized. More shells have been renovated in the past year on the side streets and the blocks are looking better than ever. Those who are familiar with Central Harlem know that the townhouse stock tends to be a little more modest and the facade renovations in previous decades have not been the most complete. With that said, a new wave of developers have arrived in the past couple of year that are restoring homes in a more accurate fashion. A fixed up brownstone in the neighborhood with great finishes still can be had in the mid $2 million range.
As previously mentioned, the best thing about upper Lenox is that it is the heart of Harlem with many shops and a really great proximity to the express train on 125th Street. With Red Rooster as the modern anchor and old school favorites such as Sylvia's attracting foot traffic, one can find lifetime locals, new residents, tourists, gay couples and even a hipster or two. Notable dining options like Inoue, Yuzu and Babbalucci debuted this year but a new location for Lenox Lounge never happened. We expect the commercial spaces to continue in quality in 2016 since the housing stock will be in even better shape. Then there is the Whole Foods which just might actually open just at the southern borders once the building finishes in the next few months.