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By Allan Erps | Agent in Nanuet, NY

    Posted Under: Market Conditions in Harlem, Home Selling in Harlem, Agent2Agent in Harlem  |  July 10, 2013 2:21 PM  |  1,615 views  |  1 comment

    Harlem brownstone sells for $4M, snagging record

    July 10, 2013     


    2036 Fifth Avenue, Fabienne Lecole

    2036 Fifth Avenue, Fabienne Lecole

    Central Harlem real estate is starting to give Park Slope a run for its money. A townhouse at 2036 Fifth Avenue, between West 125th and 126th streets, just sold for $4 million – a record in the rapidly gentrifying neighborhood, the New York Daily News reported.

    “This is not a surprise,” Faith Hope Consolo, chairwoman of Douglas Elliman’s retail group, told the Daily News. “This is a natural expression of where the trend is going.”

    The property, listed by Corcoran Group’s Fabienne Lecole, is a triplex with a commercial duplex downstairs, a total of 8,000 square feet. The upstairs comes complete with two terraces, a modern gourmet kitchen, a family room with floor-to-ceiling shelving, a large dining room and a rooftop patio. The commercial space boasts hardwood floors, exposed brick walls and high ceilings.

    The average brownstone in Harlem now sells for $1.65 million, the Daily News said.

    Consolo told the Daily News that she expects that a Harlem brownstone could fetch $5 million by the end of 2013. [NYDN] – Julie Strickland


    Posted Under: Shopping & Local Amenities in Harlem, Market Conditions in Harlem, Agent2Agent in Harlem  |  June 16, 2012 7:06 AM  |  1,243 views  |  No comments

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    Developers close on Taystee Bakery site

    Groundbreaking planned for summer 2013

    June 15, 2012   By Katherine Clarke

    A rendering of the Taystee Bakery redevelopment

    The private developers who closed yesterday on the former Taystee Bakery Complex in west Harlem plan to break ground by next summer on a large commercial and industrial space that will house businesses from creative industries, a New York State Economic Development Corporation spokesperson told The Real Deal. Taystee Create LLC, a newly formed partnership affiliated with developer Janus Partners LLC and Monadnock Construction, are calling the redevelopment project CREATE @ Harlem Green.

    The site, which the EDC sold to Taystee Create, is located 125th and 126th streets, between Morningside and Amsterdam avenues.

    Taystee Create paid $3.43 million for the site and is planning to invest an additional $100 million in its redevelopment. The complex will include 90,000 square feet of office space, 40,000 square feet of retail and a 10,000-square-foot community facility.

    The Taystee Cake Bakery closed in the late 1970s. In the decades since its closing, the building has been vacant and suffered decay. In an effort to revitalize the neighborhood and preserve the building, the EDC issued a request for ideas for the redevelopment of the bakery in November of 2010. Janus and Monadnock were selected as the developers of the project last year. A press release from the mayor’s office said the project will create 510 construction jobs and 440 permanent jobs.

    Some tenants for the property have already expressed interest. Sugar Hill Golden Ale, a prohibition-era ale-maker has stated its intention to return to its birthplace: Harlem. The microbrewer plans to relocate to the facility from Saratoga Springs, N.Y. But while the Greenpoint Manufacturing and Design Center was slated to lease 53,000 square feet of manufacturing space at the facility, a Greenpoint spokesperson told The Real Deal today that the center’s involvement in the project remains undecided.

    The traction the project is gaining mirrors the progress of another EDC project in Harlem: the redevelopment of the Corn Exchange Building, located on the northwest corner of 125th Street and Park Avenue. Originally built in 1883, the Corn Exchange Building was designed by the architecture firm Lamb & Rich, and was given landmark status by the Landmarks Preservation Commission in 1993. The building is currently vacant and has been in severe disrepair since the late 1970s.

    New York City-based developer Artimus closed on its purchase of the property from EDC in September, an EDC spokesperson said, and the project is expected to break ground by the end of 2012. That development is slated to include 31,000 square feet, with 22,000 square feet planned for office space and 9,000 square feet for retail. The $16 million development is expected to create about 90 permanent jobs and 60 construction jobs


    Posted Under: General Area in Harlem, Remodel & Renovate in Harlem, Design & Decor in Harlem  |  September 14, 2011 5:00 AM  |  2,544 views  |  2 comments

    Harlem brownstones feature in HGTV's "Design Stars" finale

    September 13, 2011

    A screenshot of the show finale, set in a Harlem brownstone

    HGTV's "Design Stars," the television series which features 12 interior designers battling it out for the ultimate design crown, showcased some trendy Manhattan brownstones in its season finale last night (click here to see the video), Harlem + Bespoke reported. Viewers saw finalists Meg Caswell and Karl Sponholtz tasked with each redesigning a room in a Harlem brownstone for real-life homeowners, then turning each of their projects into five-minute pilot presentations.

    Reality shows seem to be eager to shoot in Harlem these days, the Harlem website noted, judging by this recent HGTV cameo and its recent spot on "Project Runway" a few weeks ago. Harlem has been experiencing a real estate renaissance in recent years. As property values in other Manhattan districts soared pre-recession, Harlem became the new development frontier. Luxury condominium buildings, more retailers and a surge of new residents have appeared in Harlem of late. Recent developments include the modern Parc Standard on Frederick Douglass Boulevard. [Harlem + Bespoke]
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