Tag Archives: economy

Latest Manhattan Rental Market Report, how does Harlem make out?

HG Photo IMG_1842

I came across an interesting clip from Brick Underground about renting or selling during the Winter months, which then lead me to a Manhattan rental report and from there I tripped over housing stats about Harlem. If you’re an owner of property in Harlem, you’ll enjoy this news. If you’re a person looking to rent in the Harlem area, this is info could be bad news for your endeavor.

According to the 2012 November issue of Manhattan Rental Market Report, “Harlem is the only neighborhood that saw increases,” which is unusual because during the cold season the real estate market typically slows down for both selling and renting; and numbers are flat. But not for renting in Harlem. The numbers are up, according to this report. Here are the Harlem stats:

Non-Doorman Studios (3.1%)
Doorman Studios (4.4%)
Non-Doorman One-Bedrooms (3.5%)
Doorman One-Bedrooms (2.6%)
Non-Doorman Two-Bedrooms (2.0%)
Doorman Two-Bedrooms (1.2%)

To learn more about the Manhattan Rental Market Report, go here.

220 St. Nicholas Avenue in Harlem going rental, not condo

The abandoned, halfway finished, glass building on 121st Street and St. Nicholas Ave., aka 220 St. Nicholas Ave., is apparently going rental, not condo. The Real Deal reports that the developers are foreclosing on this odd structure and taking title to the property and turning into a rental.

I walked by this place yesterday afternoon and saw a forklift (if that’s what it’s called?) on site carrying someone to the top of 220 St. Nicholas Ave in Harlem. Maybe it was the young developers checking out their soon to be foreclosed place?




Harlem neighborhoods experience price jump in rental market

According to RentJuice®, a Zillow® business and provider of lease marketing technology to thousands of real estate property managers and brokers, the uptown part of Manhattan, specifically Harlem neighborhoods, experienced a price jump in the rental sector of real estate. In a news release distributed today, it stated that “over the last quarter, the city’s average cost for space remained stable at $4.98 per square foot-exactly the same as at the close of the first quarter. The largest hike in price per square foot occurred uptown in Harlem. Neighborhoods such as Central Harlem, Harlem and Morningside all experienced 11 percent jumps in average price per square foot in the second quarter. Renters in Hamilton Heights, however, saw a five percent decrease in average price per square foot.”

To read the full news release, click here.

Drinking Liberally launching Harlem Chapter, first gathering is tonight at Lenox Lounge

For those of you that are left of center on social issues, that would mean the Big L for liberal, listen up! Drinking Liberally, a national organization that focuses on “promoting democracy one pint at a time” is launching a Harlem Chapter. And the launch party is tonight (May 16) at Lenox Lounge. Start time is 6 pm! If you are interested, sign up on their Facebook page or go to their national website to learn more.