Posts Tagged With: Harlem condominiums

Brokers Weekly: The Common Touch in Harlem

The Sponsor of APEX Condominium has lowered the monthly common charges at the new luxury building in Harlem.

The average estimated monthly charge for a one-bednoom home is now approximately $572.00, according to owner/developer RCG Longview and The Marketing Directors, Inc., the property’s exclusive sales and marketing agent.

Addressing monthly common charges appears to be right on point as buyers have responded positively to the new program, with recent contracts pushing the 44-home building to the 30% sold mark.

“There’s tremendous public acceptance of APEX and we’re success fully attracting buyers from throughout New York City who appreciate the property’s well thought-out designs, upscale finishes and appointments, amenities and services, convenient location and exceptional value,” said Adrienne Albert, CEO of The Marketing Directors, Inc.

“The early success has already led to price increases on some of the lines.”

Located at 2300 Frederick Douglass Boulevard, on the southeast corner of 124th Street, APEX features 44 contemporary condominium homes situated on the top six floors of the new 12-story building which includes a 124-room Aloft hotel,

Residences are priced from the mid-$300,000’s to just over $1 million.

See the full clip here: Brokers Weekly – The Common Touch in Harlem – 6.15.11

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Starwood To Open Aloft Hotel In Harlem

Photo Credit: Ramin Talaie/WSJ

We keep hearing about the new Aloft Hotel opening in August. It is being built by Starwood, one of the city’s largest hotel operators with a total of 18 in New York. Starwood is scheduled to open the Aloft hotel, featuring loft-like rooms, in August on Frederick Douglas Boulevard and 124th. The Wall Street Journal just released a story about Starwood. They are not only opening the Harlem location but will also open another Aloft Hotel in Brooklyn this November. The top of the hotel will be the home of 44 new Apex Condominiums. We can’t wait to get a look at those! You can read the full story about Starwood and the Aloft Hotel here.

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WSJ: Mortgage Rates Fall, Extend Record Lows

Mortgage rates fell in the past week, with the average rates on 30- and 15-year fixed-rate mortgages further extending record lows, according to Freddie Mac’s weekly survey.

Rates have been at or near record lows as the Treasury market has rallied amid stock-market volatility, pushing yields lower. Mortgage rates generally track Treasury yields.

The decline over the past few weeks also “echoes the recent signs of weakening confidence in the strength of the economy, particularly the housing and consumer sectors,” said Freddie Chief Economist Frank Nothaft.

The 30-year fixed-rate mortgage averaged 4.56% for the week ended Thursday, down from the prior week’s 4.57% average and 5.2% a year ago. Rates on 15-year fixed-rate mortgages were 4.03%, down from 4.06% and 4.68%, respectively.

Both the 30- and 15-year mortgage rates are at the lowest point since Freddie started tracking them, 1971 and 1991, respectively.

Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.79%, lower than the prior week’s 3.85% and 4.74% a year earlier. One-year Treasury-indexed ARMs hit a fresh low of 3.7%, down from 3.74% and 4.77%, respectively. That loan type has been followed by Freddie since 1984.

To obtain the rates, the five-year fixed-rate mortgages required payment of an average 0.6 point and the others required an average 0.7 point. A point is 1% of the mortgage amount, charged as prepaid interest.

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