Category Archives: real estate

364 West 119th Street in Harlem purchased for rental redevelopment

In a news release issued today, Jasper Venture Group announced it has purchased a five-story, ten unit low-rise apartment building in Harlem for rental redevelopment.

The property, located at 364 West 119th Street, is in Morningside Heights neighborhood adjacent to Morningside Park and Columbia University. The location offers proximity to nearby Harlem restaurants, nightlife, and mass transit.

According to the news release, the brick row house was originally built in 1910, and its facade retains desirable original architectural features, including ornate ironwork and stonework.

Construction will begin in April, 2014.

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East Harlem’s East River Plaza completely leased out, Planet Fitness and Mt. Sinai rent space

Blumenfeld Development Group, the owners of East River Plaza in East Harlem, today announced via a news release that the retail complex at 116th Street and FDR Drive is now 100 percent leased following the signing of a long-term agreement for 14,500 square feet of space by Planet Fitness and the inking of a 15-year lease by Mt. Sinai Hospital for a community oriented dialysis center, also for 14,500 square feet of space.

They join other tenants within the five-story, half a million square foot complex that includes Target, Costco, PetSmart, Aldi, GameStop, Burlington Coat Factory, Old Navy, Bob’s Discount Furniture and Marshalls, among others.

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220 St. Nicholas in Harlem 50 percent rented

According to The Real Deal, 220 St. Nicholas Avenue in Harlem “is halfway leased after three weeks, according to its developer Justin Gorjian.”

The 11-story residential building was converted to full-floor rental units and two retail spaces. “Each unit comes with a private outdoor space, floor-to-ceiling windows and private entry that is accessed by keyed elevators. Prices range from $3,000 to $8,000 per month for one, two, and three-bedroom apartments,” according to the article.
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More than 60 percent of condos sold at One Morningside Park in Harlem says The NY Times

One Morningside Park, the luxury condo going up on 110th Street and Manhattan Avenue, is more than half sold! The New York Times reports today that more than 60 percent of the 54 units have sold and prices continue to rise!

“The remaining one-bedroom is listed at $925,000. Two-bedrooms range from $1.436 million, for a 1,051-square-foot space, to $1.949 million for a 1,397-square-foot space. And three-bedrooms range from $1.911 million, for 1,265 square feet, to $2.302 million for 1,383 square feet.”

The article even states people are moving to Harlem because folks are priced out in other parts of the City. Insane!

Manhattan is out of control expensive with no end insight. Mayor-elect De Blasio your up!

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2040 Frederick Douglass Blvd in Harlem to become apartment complex, gas station employees let go before the holidays

We now have confirmation on what will happen with the Harlem gas station at 2040 FDB. It will become an apartment building. We’ve pretty much known all along what was going to happened to the gas station. Details leaked out last August. Read the latest details here.

What we’ve also learned recently is that more than 20 gas station employees were let go right before the holidays. I guess the developer couldn’t wait until January. Grinch!

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Want a Harlem t-shirt? Keep Harlem, Harlem tees now available

On this Harlem blog, I use tees to feature the subject matter, ie Harlem. Sometimes readers ask, where can I buy a unique tee with the name Harlem on it? Here’s an option. One of my favorite Harlem sites, Harlem NYC, is now offering Harlem tees to purchase. The t-shirt says “Keep Harlem, Harlem.” Pretty cool…huh? If you’re interested in purchasing this Harlem tee, go here! And to check out Harlem NYC like I do, click here.

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One Morningside Park in Harlem taking shape

Harlem real estate continues to amaze me. Development continues even though the entire world feels like a quagmire, with the exception of Manhattan real estate. Look at this building in Harlem on the corner of 110th Street and Manhattan Avenue, which was an abandoned lot! It’s going up so fast and there’s not very many apartments left-unless one has a million dollars. Look at One Morningside Park’s listings! All that’s left to purchase are apartments for $1.2 to $2.2 million. And there’s no guarantee those million dollar apartments have Central Park or Morningside Park views. My guess is those apartments with great park views went first.

With this apartment building going up in this former abandoned lot, can we all agree now that Harlem is one expensive place to buy real estate? Long gone are the days of reasonable apartment deals in Harlem.

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Sale of 1800 Park Avenue in Harlem is completed

We have more Harlem real estate news to report. HarlemGal Inc received a news release recently announcing that Vornado Realty Trust has “completed the previously announced sale of a parcel of land known as Harlem Park located at 1800 Park Avenue (at 125th Street) in New York City for $66 million…” The sale was finalized in the last 48 hours.

With the sale of 1800 Park Avenue completed, we can all now assume that the previously reported plans to develop this area will now move forward. According to several online reports, “Bruce Eichner is planning an 80/20 residential project at the Harlem Park site. Eichner has been in the midst of an architectural competition for the planned development at 1800 Park Avenue and 125th Street.”
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Harlem building 2070 Frederick Douglass Blvd goes on sale for $9.75 million

Another apartment building in Central Harlem has been renovated and is now on the market for sale. The last building we talked about was on 115th Street and FDB. This week we learn that the seven-story, mixed-use property located on the corner of West 112th Street and Frederick Douglass Blvd (2070 Frederick Douglass Boulevard) is for sale through Eastern Consolidated for $9.75 million.

According to a news release, Eastern Consolidated “is marketing the recently-renovated 15,000-square-foot elevator apartment building in Harlem, which was gut renovated and with new construction of the two top floors in 2007- consists of 16 units, which are mostly two and three bedroom units, as well as two retail stores on the ground floor.”

Interested in more information about acquiring the property? Contact Adelaide Polsinelli at Eastern’s Midtown offices at 212 499-7700.
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Sign says apartments for rent at 2126 Frederick Douglass Blvd in Harlem

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There is signage up at the recently renovated Harlem building located at 2126 Frederick Douglass Blvd. that says apartments for rent by CitiHabitats. When I went to the website to view the listing, I only saw 5 Harlem apartments listed and get ready for this…the apartments listed range from $4700 for a 4 bedroom/2bath to $4000 for a 3 bedroom/2 bath.

I find that rent to be pricey however, this part of Harlem has experienced the most growth in the last couple of years, it’s known as Harlem’s restaurant row and its nestled between two big parks, ie Central Park North and Morningside Park. If I had to bet, my guess is CitiHabitats will probably get the rent they are asking. What do you think? Is the rent reasonable for these Harlem apartments or “too damn high” as the saying goes?

To view the listings of rental apartments at 2126 FDB in Harlem, go here.
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