For an idea of what the shell market is going for these days, one need only look at 116 West 132nd Street (just west of Lenox) and its recent sale. The bank-owned, 20 foot wide, SRO status townhouse was on the market over one year ago for $549K with no apparent interest until the price was reduced drastically to $199K for an apparent short sale back in November. In this case, having a lower asking price did the trick since the final sales number in March was at $406K. There must have been some active bidding at the end of 2009 since the Central Harlem shell sold for double the low-ball number. Thoughts? Photo by Ulysses
Tuesday, July 6, 2010
☞ DWELL: 116 West 132nd Street Sold
For an idea of what the shell market is going for these days, one need only look at 116 West 132nd Street (just west of Lenox) and its recent sale. The bank-owned, 20 foot wide, SRO status townhouse was on the market over one year ago for $549K with no apparent interest until the price was reduced drastically to $199K for an apparent short sale back in November. In this case, having a lower asking price did the trick since the final sales number in March was at $406K. There must have been some active bidding at the end of 2009 since the Central Harlem shell sold for double the low-ball number. Thoughts? Photo by Ulysses
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Great Info Ulysses ! As usual ! Anyone out there know the best way to find out about available shells in Harlem ? Banks ? are there agents of sites that are focused on these shell properties ? Thanks
ReplyDeleteWent for more than I would have thought considering the SRO status. Once again evidence that the market is rebounding. A lot of rubbish spoken on the other brownstone thread, 152 West 132nd Street, about plummeting values etc. For an SRO shell w/o a CO, this is actually quite a decent sum and makes the other place look like a decent deal at $595k.
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