There have been several record sales of Harlem townhouses in the past few months and the Wall Street Journal has written an article on how the numbers are the highest since 2007. Another point of interest in the feature is that Chinese buyers from Beijing have taken noticed as can be seen from a recent sale of a $2.3 million sale at 329 Convent Avenue. The international couple who made the purchase were about to purchase a glass condo on the Upper West Side when they asked their broker where she lived. After seeing the Hamilton Heights neighborhood, the buyers quickly changed their minds and wanted to purchase a townhouse in West Harlem. Kareem Abdul-Jabbar's house that sold for $2.5 million and this week's reported record sale of $2.85 million at 105 West 122nd Street are also mentioned. Read more about the post slump Harlem market at WSJ:
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Is $2m the new renovated brownstone standard?
ReplyDeleteCertainly looks like it. But all of the $2mm properties appear to have high-end finishing/styling (or at least it looks that way from the photos); so whether it's renovation or finishing that's the differentiator is maybe the better question.
ReplyDeleteI think it's high end renovation and styling and modern amenities (central air, master bath with dual sinks, etc), location: either a landmark block or near amenities, and width with at least some original detail (staircase, fireplace). The ones that have all of these are selling well over 2 million.
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