23 Harlem townhouse open houses set for tomorrow

23 Open houses are set for tomorrow Sunday December 9th. 5 of the 23 offerings are for $2.5 million and less. 2 of the offerings are for $4 million and up. Very few properties have sold this year for $4 million and up. 

As of just days ago, the number of listings available for <$2 million hit double digits. List of open houses for Sunday December 9th

Harlem townhouse November report

West 147th street near St.Nicholas avenue

The Author- 

 Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

Harlem starter townhouse inventory increasing

The last two months showed inventory for below $ 2 million in the Central Harlem, Hamilton Heights market stay steady at 9 townhouses. This is nearly double the amount that was present in the market only two months ago of 5 properties. In the last 2 months, 2 sales were recorded under $2 million and one was an off market deal on Astor Row. If you take a closer look at the inventory under $2 million, you are seeing a fair amount of SROs: some with a certificate of no harassment and some without it. You are also seeing inventory with rent stabilized tenants or other tenancy that would complicate the conversion of a building.

With several townhouses on the cusp of asking under $2 million, it can be expected that these properties will lower their asking price and will see even more attractive offers in the coming months under $2 million. Now and in 2019, might be the most attractive time for a buyer to purchase their first townhouse in the Harlem market at a discount.

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

Harlem townhouse November market report

In November, there were 11 new listings in the Central Harlem, Hamilton Heights market and 3 sales. The 3 sales ranged from a South Harlem fixer-upper for $2.2 million to a Striver’s Row townhouse for just under $3 million.

Current inventory is 80 townhouses up from 79 in October.  The amount of time to absorb all of the existing inventory would be 27 months. Days on the market average for all active listings is 132 days.

< $2 mm 9
$2.0- $2.99mm 43
$3.0-$3.99 19
$ 4.0 mm + 9

 

Harlem townhouse October report

Harlem townhouse September report

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

400 Central Park west apt 12M Sold

A 1 bedroom, sponsor renovated unit was sold at the 400 Central Park west condo. The apartment featured a top of the line renovation by the contractor of the Sponsor and had southern views of Central Park. The sales price was $1,325,000 negotiated down from the ask of $1,345,000.  The listing broker was Douglas Elliman and the selling broker was BSRG Inc/ Brian Silvestry.

The 400 Central Park west condominium is a 400 plus unit full service building with resident’s lounge, private gardens, parking, storage, live-in-super and on-site management.

Link to listing

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

21 Open houses for Harlem townhouses set for tomorrow December 2

21 townhouses in the Harlem area, are planning to be held open tomorrow. The least expensive is a 4 family on West 141st street for a reduced $1,850,000 and the most expensive is a large townhouse at 730 Saint Nicholas for $5,250,000.

Complete list of Harlem townhouse open houses here

 

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

 

NYC Commercial real estate prices remain strong

According to the latest study from Ariel Property Advisors, the dollar volume of commercial real estate deals is up about 28% year to date over the same period in 2017. Additionally, 4 of the 5 boroughs are showing price increases in multi-family. Manhattan was up 16% price per unit versus last year. Only Brooklyn’s price per unit decreased.

This is consistent with what I am seeing which is continued foot traffic at my exclusives which include a 12 unit near Madison avenue in Central Harlem for $5.7 million and a 4500 sqft SRO in Mount Morris. Additionally, there is plenty of interest in 20-40 unit buildings Uptown with little inventory.

Commercial Observer coverage

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

146 West 121 street listed showings start today

146 West 121 street, a Harlem SRO building with 13 B rooms and 1 class A apartment is now back in the market after a deal had fallen through. The building comes with the certificate of non harassment, obtained in September of this year and 1 tenant who occupies 2 rooms on the 5th floor. The property is located in the Mount Morris Historic district and is 18′ wide with 5 stories.

Listing details

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

NYC raids Atelier building in Midtown in attempt to crack down on illegal short term rentals

In the largest deployment yet, about 20 enforcement officers descended on the Atelier condo on West 42nd street and issued  27 summonses for illegal rentals to 20 different owners, including two members of their condo’s Board of Directors. The City is attempting to crack down on illegal rentals and this is the biggest effort yet but may been an indication of things to come. There is a new law that will force sites such as AirBnB to share the information of their hosts with the City which could go into affect as soon as February.

WSJ coverage

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

24 luxury contracts signed last week in Manhattan

24 luxury contracts were signed last week according to the Olshan Report. An 80th floor apartment in One57, Extell’s luxury tower on Billionaire’s Row went into contract after asking $19.9 million. A seller at 150 Charles managed a $4 million profit after buying his condo for just north of $12 million off floor plans back in 2012 as well.

TRD coverage

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

Harlem October Townhouse Market report

In the month of October there were 5 sales and 10 new listings. This is a dip from the last month when there were 20 new listings and almost no sales. The most expensive sale of the month was 123 W 120th street which a 4 family 20′ wide sold for $3.25 million down from it’s asking price of $3.75 million.

79 Harlem townhouse listings are available for sale and for the first time the under $2 million price range is seeing an increase. Last month there were only 5 listings under $2 mm and now there are 9 listings in that price range.

< $2 million 9
$2-$2.99million 38
$3.0-$3.99 million 23
> $4 million 9

134 days on the market is average for all Harlem townhouses. The number of months to absorb all of the inventory is 16 currently.

Harlem townhouse September report

Harlem townhouse August market report

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

News about the NYC real estate residential and commercial markets provided and interpreted by an industry veteran licensed since 1999. Brian Silvestry of BSRG Inc. Licensed real estate broker