☞ DWELL: 46 West 126th Street in Contract

The red brick building at 45 West 126th Street is located between 5th Avenue and Lenox has finally gone into after being on the market for the past couple of years. The move-in ready, 20 foot wide, four family property which includes an owner's duplex was originally asking for $1.875 million back in the end of 2008 but eventually switched brokers and was relisted six month later at $1.49 million. After a few more price cuts, the final asking was out at $1.29 million which apparently was around the right number.

There's a lot of good things about the townhouse and some locations issues also. On the positive front is that the building is a substantial 20 foot wide, comes with a fully renovated interior, can be subsidized by three rental units and the location is only a block away from the express 2,3 trains at Lenox and 125th Street. The brownstones that are intact on the street are also quite nice, but it is the few missing or boarded up buildings on the block that may be disconcerting for some buyers. Some of the empty homes have been purchased recently so this block should see some changes in the next year or so.