Wednesday, November 6, 2013

☞ DWELL: An Affordable Harlem Brownstone?

For those looking for an affordable fixer upper in Harlem, the search might be a little perplexing because such properties do not come up quite often.  In general, one probably can find something in Central Harlem above 125th Street in a more modest design i.e. smaller brownstones with not a lot of decorative facade ornaments (as pictured). There was a point in time a few years ago where the minimum for a Harlem brownstone shell was a million but those days are long gone and a few properties do appear well below that asking.

Number 148 West 132nd Street is a good example since it is on a decent block just off of Lenox Avenue but a few shells still remain that need a little work.  At the asking of $799K, the building would appear to be a good investment but the major issue here is that it apparently is an SRO configuration and the certificate of non harassment is probably not secured: LINK

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