New York magazine has been following 37 new condos in the greater NYC area since the market fell in 2008, and they recently had an article on the progress of those developments. Many of the buildings on the original list had stalled in sales but Graceline Court at 116th Street seems to have made the short list for buildings on a comeback. The 32 unit new construction only has four more to sell and the article states that two apartments might be in contract soon. We covered Graceline Court back in March when it hit the 80% mark and it is good to see that somebody is making progress: LINK. Read more on who made the shortlist in the New York magazine article: LINK. What's everyone think? Are things picking up for condos? Photo by Ulysses
Tuesday, June 8, 2010
☞ READ: Slow Recovery for Condominium Sales?
New York magazine has been following 37 new condos in the greater NYC area since the market fell in 2008, and they recently had an article on the progress of those developments. Many of the buildings on the original list had stalled in sales but Graceline Court at 116th Street seems to have made the short list for buildings on a comeback. The 32 unit new construction only has four more to sell and the article states that two apartments might be in contract soon. We covered Graceline Court back in March when it hit the 80% mark and it is good to see that somebody is making progress: LINK. Read more on who made the shortlist in the New York magazine article: LINK. What's everyone think? Are things picking up for condos? Photo by Ulysses
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I think things are picking-up...just depends on pricing as well as which particular building you're talking about and its location, transportation options, retail, restaurants, etc. So certain parts/pockets of Harlem from 110th even to around 145th street will see increased sales activity. There are buying opportunities in Harlem for all tastes.
ReplyDeleteLordy, no one is a bigger booster of this neighbourhood than I and I love the West African presence on 116 (my son is 1/2 Ivorian) but this is one fugly fugly building next to what be the world’s ugliest mosque.
ReplyDeleteFriends of mine looked at it and said it was quite nice inside but there’s traffic, buses. . .
11:13 - you're right...the building is cantilevered which is a bit odd and the mosque needs some rehab work and updating. And yes, 116th street is busy and dirty.
ReplyDeleteSales in southwest Harlem seem to be picking up in general, but I'm still mystified as to what is going on with "The Lore" on W 112th St. The building has been finished, staffed with a doorman, and completely empty as near as I can tell -- for like 2 years.
ReplyDeleteAll I've been able to find is a rumor about blocks of apartments being marketed to foreign investors, but nothing I would categorize as substantiated information. I honestly can't understand why a developer would incur such costs, both up front and on an ongoing basis, without taking on a more aggressive sales posture.
Sanou‘s Mum,
ReplyDeleteI have to disagree with you that this is the ugliest mosque in the world as there is no such thing as an ugly mosque--as long as it preaches love for all.
I really like that whole area. 116th for me has an incredible mix of different cultures, east is Spanish Harlem with awesome street food and further west are some really good African restaurants. I might be slightly biased though, I went to that market on 116th when I first visited NYC ten years ago, bought a Yankees jersey and fell in love with Harlem back then.
ReplyDeleteStill hate that God awful Deal$ store though at the Kalahari.