What is widely considered the oldest house in Harlem has sold for $3.6 million to Jack Stephenson who will lease it to a friend who will use it as a practice facility for musician. The famed opera singer Lauren Flanagan will operate the not-for-profit Music & Mentoring House at the location. The house is a clapboard house, landmarked in 1982, and believed to have been built in 1864. This sale while not a record, is one of the most expensive residential sales in Harlem to date. See NYDN.

Due to a dearth of inventory in Harlem,prices have continued to rise for townhouses. Recently, our brokerage went to contract on 517 W 179 street and 522 W 142 street. 522 W 142 street was an SRO in shell condition that went over the asking price of $1.3 million. It will be conveyed without the certificate of no harassment which is needed before a purchaser can get their building permits. Interest was instense and it went to a CASH purchaser. Similar SROs are trying to push even higher than $1.5 million depending on width and condition of the building.