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what do you think about this building , priced 800-1000$/sq/ft,
9 inch ceilings, huge windows, 25 y tax abatement, low CC
priced almost 50 % less thn one morningside park
9 inch ceilings are a bit low for most people
Kalahari -8 inch
are they starting to sell the units? did anyone check it out? do i need to make an appointment to go see it?
its okay i am SUPER short, i'll deal with - 8 inch ceilings :)
private sale is going on
you can make an appointment
800-1050/sq ft, some units are in a contract already
any thoughts about The Adeline?
9 units officially released
Seems interesting but somewhat expensive. What's 9" ceiling?
agree , expensive,
but look at one morningside park - 1.6-2.0 mln for 2 br 2 ba?
I know location is the key but .....
do you know any new condo in manhattan priced lower thn The Adeline?
Muromec, You seem to be quite a cheerleader for The Adeline. One downside is that, unlike the Kalahari across the street, the Adeline is the condo part of a complex that also includes a rental building. That could have enormous negative impact on the value of the condo units. Quite frankly, compared to other condo buildings in Central Harlem (the only relevant market comparison), it's hard to avoid the conclusion that The Adeline is overpriced; it is quite likely that those buying units in the building before the construction is even completed (bubble anyone?) are going to find out that they overpaid.
The Kalahari has 120 affordable units on all floors but 11 and 12, the Adeline has none , but there is a rental on 117th str - two separate structures with no common access( the courtyard is not accessible for rental building).Also you can check the sales @ Kalahari , with the last 2br2ba(and its a restricted/affordable unit)in a contract for 975k. After pricing release for the Adeline you not going to get old pricing @ Kalahari anymore ( 700-800s k for 2 br).The Adeline has fresh tax ab for 25 years with better finishes and Kalahari has 19 y left. BTW , I own 2 br @ Kalahari and LOVE it.
I think One Morningside is overpriced - 1500 $ /sq ft ,
The Adeline- 800 $ and above.
The Adeline has very low CC and 25 y tax ab - it will attract some buyers....
I am planning to buy @ Adeline for an investement , and just want to make sure I am making a right decision because I am not sure about "bubble anyone?"
Already price increase? within 5 days ? Units were just released! This is the third price increase...wowww
It shouldn't sell for less than the Kalahari.
there is w/d in each apt
Amenities are not as good as the Kalahari but still a very solid and great looking building. I would say the apts at the Adeline are nicer than the Kalahari, but the amenities at the Kalahari are better than the Adeline. Kalahari Amenities: party room, library, large and well equipped gym, sound proof musician room, two roof tops, huge garden, free wifi in common areas and apartment, huge lobby, library, garage w/ zip cars and LEED GOOD certified green building w/ 25% lower energy cost. Adeline amenities: much smaller gym, no party room, no library, no sound proof room and smaller lobby. Kalahari Apartments: heated "nuheat" bathroom floors. Adeline Apartments: Washer/Dryer and Floor to Ceiling Windows. I guess you can't go wrong w/ these two building. These are across the street from each other and in one of the most developed blocks in Harlem. Not to mention the huge convenience of having the 2,3 express trains on the block.
you could buy 2 br 2 ba @ Kalahari 5 y ago for 650-720k , now I don't think any of 2 br will be priced below 1 mln
21 apts are in contract as per Halstead website
Muromec, you seem to be experienced - what would you say about purchasing a storage bin in this building? they sell them around $10K, approx. 15SF. do you think that would be a good investment?
The Adeline website is working now
guys-do you think it would be a good investment to buy a storage bid in that building? they are asking $10K for 15SF area.
it was 5k $ @ Kalahari , you can rent it for 100 $/mo , you will need 8-9 years to get even + closing cost and annual fee
Agreed - thanks for the feedback.
Any feedback about the area in general? Have you guys experienced anything bad in the vicinity?
I live in the area with two yound kids, no problems at all! we love it there! easy access to the whole city!
great to hear, thanks.
here comes price increase again!
An other price increase today , not reflected on streeteasy.com yet,
check Halstead for new pricing , price increase 50-100K !
25-30% price increase within 1.5 mo
muromec, are you pro or against price increases?
just an info
28 apts in contract within a month.......many of them went into contract at much lower price point , before price increases... also most of the contracted units are lower priced apts( 1 br and 2 br).Interesting how the sale will go after that....
33 apts in contract.....
how many now?
42 apts in contract
50 % sold within 2 mo !
2 months and 1 hour now.
apts selling pretty fast...
there are two vacant sites on 116th str for possible construction- by the 116 str @ park ave( empty corner lot) and Conway site- huge corner lot 116 @ Lenox. Any info if the new construction is being planned?
One more price increase today... third one since january.. not reflected on streeteasy yet but there is a new pricing on halstead ....
60 % sold....
7th price increase ....
new pricing tomorrow...( not on streeteasy or halstead yet)
almost 40-50 % price increase since units were released in december.....
When I first started posting back in 2007 (before you were required to have a screenname) most people on this board thought Harlem had no chance at improving. I had put my money where my mouth was (though I selected Hamilton Heights over Central Harlem)- now look how things have changed.
Semerun, what do you think about NYC, Harlem and Manhattan market ( pricing) for the next 2-5 years?
Over the mid-term of the next few years, I am bullish on Manhattan real estate. I think most of Central Harlem will increase significantly, but East Harlem and Hamilton Heights will likely appreciate at a greater rate. That said- I am still not really crazy about East Harlem- way too many housing projects a too few large influences from within the neighborhood (though that section on 125th and 2nd ave is promising). Hamilton Heights has the greatest potential with Columbia coming up on the edges and City College expanding and becoming a much stronger school. It's only in the last couple of years did we start seeing better retail start to enter Hamilton Heights- and this is still in the early phase...but a year or two from now, things will look very different. I remember Amsterdam Ave like this during the mid 1990's,
I am extremely concerned about our new mayor's upcoming dealings with the unions- expired contracts with potential for retroactive pay increases. Long term it could be a disaster for the city if handled incorrectly- but this won't likely impact real estate pricing until much longer than your 2-5 year horizon.
my point regarding Adeline was that 40 % price increase happened over few months not over 5-6 years.
Even @ Kalahari 1.5-2 y ago you could buy 2 br 2 ba for 700k and now one on sale for 1.19 mln
Yeah, that isn't sustainable and the reason why I said most of Central Harlem will continue to see significant increases. I think the Adeline has already priced in much of the growth and is due for a breather while other buildings in the neighborhood will start playing catch up.
The appreciation you have noticed is the delayed reaction as Central Harlem retail has really started to shine while you see an increase of wealthier buyers tickle in.