Call it East Harlem, Spanish Harlem, SpaHa or El Barrio.
What ever you call it, the neighborhood’s boundaries lie between First and Fifth avenues and East 96th to East 125th streets in northeast Manhattan.
It is enjoying a raft of new developments, the thrum of gentrification and the throb of racial and economic diversity that is at least as robust as some other popular parts of Manhattan.
Just a couple or few blocks from the five buildings that I visited on a brokers’ tour recently are the new Costco, Target and other useful stores as well as an upscale mom-and-pop bakery called Savoy. Yet old-time restaurants such as Rao’s are nearby as well, along with casual restaurants where a cafe con leche makes for a delightful afternoon pick-me-up.
There is plenty of bus transportation, but perhaps the area’s biggest drawback is the distance from many of the buildings from the Lexington Avenue subway line.
That’s one of the most obvious tradeoffs for living in East Harlem, the other being Continue reading
A while back, I quoted Paul Purcell, who is a founder of Charles Rutenberg Realty, as mentioning what he termed an old saw:
You’ve got to like your home, but you’ve got to love your neighborhood.
Smart and obvious, though not to me until then.
The concept came back to me last month when watching a friend of mine, Teri Karush Rogers of BrickUnderground.com, on WNBC-TV, where she was talking about mistakes that buyers make. She confessed that she twice had made one such mistake, and you’ve guessed what it is: She loved two places to which she moved but hated the neighborhoods.
As for me, I’ve lived in seven different Manhattan neighborhoods. In order, they have been Morningside Heights, Washington Heights (in a section that has taken on airs as “Hudson Heights”), close to the East Village (18th and First Avenue), central West Village, Gramercy/Flatiron and now the Upper West Side near the 96th Street express stop on Broadway.
I can’t say Continue reading
MAYBE YOU CAN SEE NEW JERSEY FROM A CONDO FACING AUCTION AND MAYBE EVEN RUSSIA
If you head to Edgewater, N.J. Nov. 17, you can start the bidding with $50,000 on a one-bedroom condo in Battery Park City.
Unit 333 at 21 South End Ave. is the only real estate in New York City among numerous other properties in New York State, New Jersey and Pennsylvania to be auctioned by the Williams & Williams company.
Seventeen units in the Regatta are now on the market, including one with a signed contract, at prices ranging from $385,000 for another third-floor unit described as a junior one-bedroom to $2.7 million for a two-bedroom apartment on the sixth floor.
WHITHER THE HOUSING MARKET? IT DEPENDS, SAY VARIOUS PROGNOSTICATORS
An extraordinarily wise and experienced real estate professional–okay, Paul Purcell is a founder of Charles Rutenberg Realty, with which I’m affiliated–once said this to a seller whose apartment we were pricing:
You’ve got to like the apartment, but you’ve got to love the neighborhood.
Honestly, I’d never considered that criterion with quite so much emphasis. When I think of it, however, the notion of which part of the city appeals to a buyer naturally has to come first. (With me, it was one factor on which I have been willing to compromise, having lived in neighborhoods as diverse as Washington Heights and Gramercy Park, among several others.)
But I get it.
We all know that there are Continue reading
After two years of unpredictable sales trends, the Manhattan real estate market seems to have settled into a more typical and seasonal pattern, with prices rising slightly and sales volume dipping in the recent summer months, according to third-quarter market reports, says the New York Times.
Prices increased for the fifth straight quarter, with the average sales price hovering around $1.43 million and the median price around $910,000, according to data provided by the city’s four largest brokerage firms. But prices are still well below the market’s height a couple of years ago, when the average was higher than $1.7 million and the median was close to $1 million.
But my post (below) on Wednesday questions whether September has evolved into a healthier market.
FIVE NEW YORK NEIGHBORHOODS ARE AMONG NATION’S MOST COSTLY
The West Village’s 10014 Continue reading