In a 100 year old brownstone on West 126th street, entrepreneur, philanthropist and living legend Vy Higgensen produces here latest success Mama’s One Sauce. Through the joint efforts of Harlem non for profits, Whole Foods, Columbia and lots of sweat equity of Higgensen, Mama’s One Sauce is flying off the shelves at Harlem’s Whole Foods location according to CNBC.
146 West 121st street, which is in the middle of the Mt. Morris Park Historic district has entered the market. It is an 18′ wide, 5 story townhouse with a cellar. The home which has many original details still intact, has been in the same family for more than 70 years. It is located 1 block away from the Marcus Garvey Park and right in between the A,B,C,D and 2,3 subway stations as well as very close to the recently opened Whole Foods. In addition, Restaurant Row is nearby. The home will be delivered vacant with the certificate of no harassment .
Early next year, Whole Foods will open their much anticipated store at 125th street and Lenox avenue. The store will carry local vendors products including from Sylvia’s Restaurant. According to real estate brokers in the area, landlords are already gearing up to raise residential rents in the area as a result. The new store may also attract more retail tenants as well. Prices have appreciated substantially in Central Harlem in the last several years since the store was announced. 4 years ago, $2 million would have bought a nice townhouse in the West 130’s and now you are probably looking at a fixer upper in that range now and need to spend close to $3 million to get something move in ready. Below 125 street, you will spend another $500k to $1 million to find that dream brownstone.
So which came first? Is there really a Whole Foods effect on real estate values or is it that Whole Foods chooses areas where values are on the rise and it continues to be that way. I think it’s a mixture of both. What do you think?
The Whole Foods coming to 125th street and Lenox avenue is progressing towards completion. The 6 story structure will include a Burlington Coat Factory, and Olive Garden and over 160,000 of retail. All spaces are already leased.
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