We walk by the buildings right before East Harlem's Sylvan Court (121st Street, between 3rd and Lexington) all the time and wonder why the center one still has not been renovated. Number 159 East 121st Street is nestled between two restored building but has been a gutted shell for the past year or so. DOB records show a conversion from a three-family to a four-family house had been planned for the 15 foot wide, 3,375 square foot building but it now seems the owners just want to sell the site. For $1.299 million. As is. There's lots of major construction happening in this part of town and this side street has some potential but do shells still go for $1 million these days? The 4,5,6 train is just four blocks away on 125th Street and Lexington. We recently covered a finished townhouse at Sylvan Court which is half the size and half the price: LINK. Photo by Ulysses
Tuesday, August 10, 2010
☞ DWELL: 159 East 121st Street Townhouse
We walk by the buildings right before East Harlem's Sylvan Court (121st Street, between 3rd and Lexington) all the time and wonder why the center one still has not been renovated. Number 159 East 121st Street is nestled between two restored building but has been a gutted shell for the past year or so. DOB records show a conversion from a three-family to a four-family house had been planned for the 15 foot wide, 3,375 square foot building but it now seems the owners just want to sell the site. For $1.299 million. As is. There's lots of major construction happening in this part of town and this side street has some potential but do shells still go for $1 million these days? The 4,5,6 train is just four blocks away on 125th Street and Lexington. We recently covered a finished townhouse at Sylvan Court which is half the size and half the price: LINK. Photo by Ulysses
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I recently spent a lot of time around this area, as I made an accepted offer on 4 Sylvan Court right around the corner from this property. It appears that this property has had new windows installed in the back. In speaking with the neighbor next door, the owner has worked on this for the last couple years, but no significant outside work appears to be done - and I can't comment on the interior work.
ReplyDeleteAlthough I have not commented here before, I have followed this blog for quite some time. I think the asking price is outrageous for a shell in east Harlem. This is more than what shells are going for in central Harlem, an arguably more-desireable area.
Another concern that won't be found anywhere on-line is the impact of work being done on Sylvan Court. As I said, my offer had been accepted and draft contracts came to me. However, the deal did not get done. I have huge concerns with the integrity of the developers completing 4 Sylvan Court (mostly finished) and 2 Sylvan Court (just starting) and the Realtor representing the sellers (Maryann Regal of Regal Realty, formerly of Barak NY), and what that might mean for this property and the immediate area. The developers made promises to me about how they would be finishing the paving of the mews and the curb cut, among others things. However, I question whether any of this will be done given how they handled these negotiations and how there appears to be huge conflicts of interest and lack of disclosure on behalf of the developers and the Realtor. As this entry is not about 4 Sylvan Court, I will not post here (but will do so on that entry if still open, Ulysses), but thought that people might have an interest about how another development might impact this house.
Too bad for this, too, as I see the area having great potential!