The condominium known as Brownstone Lane I and II is located on West 118th street, West 119th street and West 120th street between Frederick Douglass boulevard and Morningside avenue adjacent to Harlem’s Restaurant Row and a short walk to Morningside Park. In addition, with the express subway at 125th street it’s easy commute to Midtown. But why are so few apartments for sale? Currently there aren’t any apartments for sale and only 3 for rent. There can be several reasons for this.

Price is very attractive at around $1200 per sqft. Recently, a 3bd/2ba 1419 sqft apartment transacted at $1,740,000 and was in the market for less than 2 months before it went to contract. Brownstone Lane I does not allow subletting so that may explain the less transitory nature of the buildings. With the neighborhood amenities plus the architectural aesthetic of the Brownstone facades which fit well in the neighborhood, it is not surprising that some buyers may eschew the fancier glass buildings on FDB in favor of the more traditional look and feel of this complex. Also, the common courtyards give children and families a chance to get to know their neighbors.

Since the buildings are tax abated until 2033, that may also explain a lack of willing sellers. Upgrading to a larger apartment is difficult when you have a nice amenity package, convenient location and very low monthly charges.