Real Estate

It’s a boom with a view

Buyers have returned, bidding wars are raging, and competition is fierce to nab the perfect NYC pad

By MAX GROSS/ New York POST

Late last month, the sales team at 422 W. 20th St., the Brodsky Organization’s new condo building, arrived early to set up for its first open house.

It was Saturday morning at about 8 a.m., and the Corcoran Sunshine Marketing brokers had sunny expectations for this 37-unit building, with units ranging from $670,000 one-bedrooms up to $2.095 million three-bedrooms.

It turns out their best expectations might have been too low. Prospective buyers were lined up outside. By the time they opened their doors at 11:30, 80 people were waiting. More than 700 people came through over the weekend. As of last week, 75 percent of the building was in contract.

Do our eyes deceive us, or is the market strong again?

{SNIP}

The Apex Condominiums had a great two-bedroom layout.

The Apex Condominiums had a great two-bedroom layout.

Guy Soreq, a buyer from Tel Aviv who is starting the MBA program at Columbia in the fall, had never set foot in New York City before he began searching for an apartment in Harlem.

But he did enough homework to make his future professors proud.

“I wanted to maintain walking distance from Columbia, so I started to go over the works and did an Excel sheet that calculated the ups and downs [of nearby properties],” Soreq says.

He put size, proximity, taxes and monthly service fees into his spreadsheet and ranked each category with a point system: “It was less a gut feeling, more of a numbers thing.”

Two days after coming to New York to look at the properties that made the cut, Soreq purchased a one-bedroom for approximately $500,000 at the Apex condo building with broker Khadeejah Johnson of the Marketing Directors.

Foreign buyers — like Soreq — are one of the major drivers of the market. CONTINUE READING >>>

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Access to the Country and to Croissants

via Joyce Cohen/ The New York Times “THE HUNT”

The Apex Condominiums had a great two-bedroom layout.

Hervé and Dacotah Rousseau instantly liked the Apex Condominiums on Frederick Douglass Boulevard.  READ THE FULL STORY >>>

 

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A New Harlem: A New Renaissance

 

 

By Christy Smith-Sloman

 Today’s Harlem has a celebrity chef whipping up gourmet cornbread for President Barack Obama, a new Starwood Hotel featuring loft-style rooms geared toward an urban tech-savvy clientele, a newly opened 174,000-square-foot Target big-box store that carries everything from Spanish-language greeting cards to multicultural dolls to locally-produced Southern food. There’s even an intimate speakeasy tucked away on Frederick Douglass Boulevard offering up live jazz from up and coming local musicians and staffed with aspiring models serving up couture cocktails.

Harlem continues to be one of the most recognizable neighborhoods in the world. During the much romanticized Harlem Renaissance of the 1920s, the explosion of nightlife was so legendary we’re still talking about it 90 years later.

Harlem extends from the East River West to the Hudson River between 155th and 96th streets and is comprised of seven neighborhoods: Hamilton Heights, Mount Morris Park, Manhanttanville, Strivers Row, Astor Row, Morris Jumel Landmark District and East Harlem.

READ MORE >>>

 

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Apex Condos Hit 70 Percent

By SARA POLSKY/Curbed.com

 HARLEM—New numbers outta Harlem’s Apex Condos: the building is officially 70 percent sold, with close to 30 closings done. StreetEasy shows pricing changes on those closings ranging from 10.7 percent off the asking price to 7.7 percent above the asking price. There are three units listed in contract on StreetEasy and nine remaining active listings, ranging in price from $365,000 to $895,000. The building’s been on the market for a while, but hey, slow and steady wins the race. [CurbedWire Inbox]

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Selling Harlem On HGTV’s Hit Show “Selling New York”

via Harlem Condo Life

Living Room at Apex condominium

 

How hot is Harlem?

One indication is the number of times it has been featured on Selling New York, one of the best shows on real estate, in our opinion.

Harlem has been featured on three episodes recently: west, central and east. The neighborhood looks great, and the units are spectacular. Two weeks ago they featured the Apex Condominiums which are located above the Aloft Hotel on West 124th Street and Frederick Douglass Boulevard. The client was so impressed with the neighborhood and the condo that he ended up purchasing an additional unit in the same building. Last weeks episode included an old church that had been beautifully renovated into a living loft on East 112th Street and 2nd Avenue. The broker stated that East Harlem is an up and coming neighborhood attracting a lot of Downtowners. For the Grand Opening and viewing of this property they hired a DJ and The Harlem Gospel Choir performed.

Check it out for yourself, on HGTV. You can find “Selling New York” on Thursdays at 9:30PM on HGTV channel 64.

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Apex Will Be Featured on HGTV’s “Selling NY” This Thursday!

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Celebrity Chef Marcus Samuelsson Eyeing Historic Lenox Lounge

via DNAinfo

The Lenox Lounge, considered a Harlem icon, is up for lease for $20,000 per month starting in February. (joseph a/flickr)

HARLEM—The Lenox Lounge and its historic Zebra Room may soon be changing its stripes.

The iconic Harlem landmark, located at 288 Lenox Avenue between 124th and 125th streets since 1939, has hosted jazz greats such as Billie Holiday, Miles Davis and John Coltrane and is up for lease.

The 2,250 square foot Art Deco lounge can be had for a cool $20,500 per month starting in February, according to a listing by Walker Malloy & Company.

Sources close to the deal also say that celebrity chef Marcus Samuelsson, who operates the popular Red Rooster Harlem just a block away, has expressed interest in the space.  READ MORE >>>

 

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Apex Goes Halfsies

via Sara Polsky/Curbed.com

HARLEM—The progress of sales at Harlem’s Apex Condos has been steady, though not in the blockbuster realm. The latest stat, via building reps: the place is 50 percent sold. StreetEasy shows 13 active listings for the 44-unit building and an average recorded sale price of $556/square foot. [CurbedWire Inbox]

 

 

 

 

 

 

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HARLEM’S APEX SURGES TO 50% SOLD

via METRO

NEARLY 20 CLOSINGS COMPLETED AT NEW LUXURY CONDOMINIUM

 Style, energy and a dynamic living experience, all at an exceptional value, come together at APEX Condominium. Located in the heart of Harlem at 2300 Frederick Douglass Boulevard and 124th Street, the new luxury condominium has quickly become the area’s hottest residential destination with an impressive 50% of its limited collection of 44 contemporary homes sold.

Many of the buyers are former renters who took advantage of the opportunity to own at APEX for approximately $1,908 per month – often less than what they were paying for in rent.

Situated atop the boutique Aloft hotel, APEX is proving to be the perfect complement to its vibrant neighborhood’s ever-growing cultural, dining and recreational pursuits, including universities, the famed Apollo Theater, great restaurants, coffee houses, markets, movie theaters and other retail. APEX is also just one block from the 125th Street subway station which offers convenient service to 33rd Street.

Urban-influenced, modern designs with stylish finishes and appointments create exceptional studio-to-three-bedroom floor plans offering 476 to 1,810 square feet at prices ranging from $370,000 to just over $1 million.

The unique APEX lifestyle is further enhanced through its exciting amenity offering, including a private, secured entrance to the condominiums with an attended lobby, residents-only elevators, storage, and a landscaped rooftop terrace boasting panoramic views reserved exclusively for the residential condominium owners. In addition, homeowners enjoy shared hotel amenities such as a second, spectacular entrance, bar, fitness center and on-site parking.

An onsite sales office and furnished model homes are open for viewing. For more information and to schedule an appointment, call 646-374-3900, or visit the APEX website at www.apexcondominiums.com

The Marketing Directors, Inc. is the property’s exclusive sales and marketing agent www.themarketingdirectorsinc.com

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Redevelopment of the historic Victoria Theatre property on again

via ThaRealHarlemista/Harlem Condo Life

The changing face of 125th street moves forward. In 2008, the city rezoned Harlem’s main thoroughfare with a goal of replacing the many small-scale buildings along it with office towers, residential high-rises and cultural institutions. The Victoria Theater is the latest in a string of redevelopment projects.

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