The Harlem real estate market is off to a strong start. Prices were up by 9.7 percent and an astounding 145 percent in East Harlem compared to last year according to Trulia.com. The huge jump in East Harlem was based on 18 sales within the past year and can be attributed to the increase in townhouses and new condo units that were on the market. As seen throughout Manhattan, low inventory and strong demand continue to push prices north.
Sales in the Harlem market included a diverse mix of condos, co-ops, and townhouses. Within Harlem (including East Harlem and Hamilton Heights) there were 82 condo sales with a median price per square foot of $693 and an average sale price of $540,000. Standout sales numbers were reached at new condo developments such as Saint Anne’s Court at 48 West 138th street and 234 West 148th Street with 20 and 13 sales in the first quarter respectively. Expect to see even higher numbers next quarter when the units at The Adeline at 23 West 116 start to close. There were 44 co-op sales with an average sales price of $227,500. As for townhouses, there were 16 recorded 1-4 family sales with an average sales price of $1,314,433.
Congratulation to all the happy homebuyers and sellers!
For questions or information about this update, contact Deondra Carter, Licensed Real Estate Salesperson at Douglas Elliman Real Estate by email at Deondra.email@example.com
Notification issued on 3/12/14 at 3:00 PM. The New York City Unified Victim Identification System (UVIS) has been activated in response to the building collapse that occurred earlier today at 116th Street and Park Avenue in Manhattan. If you are concerned about the welfare of someone who may have been affected by the collapse and are unable to contact them, please call 311. From outside of NYC, you may call (212) 639-9675. The American Red Cross has also opened a reception center at P.S. 57, located at 176 East 115 Street in Manhattan.
Two buildings appear to have collapsed in East Harlem.
At least two deaths and 16 injuries are reported. NYFD reports it to be a 5-Alarm Fire. The buildings are located on 116th Street and Park (5th Avenue)
Our condolences to the families who lost family and friends. And we wish a speedy recovery to those injured and quick resolution for those who have been displaced.