☞ DWELL: Presale Picks Up for Harlem Condos

The new construction called One Morningside Park apparently has been racking up the presale contracts even though the prices are on the higher side for Harlem.  This new building is set to finish early 2014 with many of the larger units going for around the $2 million mark.  Based on Streeteasy, 9 condos are still available for presale and 16 contracts are currently out.  That indicates six new contracts  just in the pass couple of weeks alone.  For those looking for an expensive condo with a great location in South Harlem, check out the details on Streeteasy: LINK

Further uptown, another smaller boutique brownstone-to-condo conversion in Hamilton Heights just sold all 4 units last month while still in the middle of a gut renovations.  The Greyston development promises restored original details with a modern update and apparently buyers responded to updated, younger vibe. One would also have to point out the relatively moderate Harlem pricing which was probably an attractive factor also: LINK

After a couple of years at an adjustment period, the Harlem market appears to be quietly in demand again.  Once Whole Foods officially breaks ground on Lenox, we predict that another boom in development will be starting in 2014 that will rival the initial growth phase several years back.