Central harlem ROI over Other Harlem nabes
Started by Lookingtobuy77
almost 12 years ago
Posts: 9
Member since: Jul 2013
Discussion about
Hello, anyone out there have any comments about living in central harlem, specifically low 130's near lenox? We are considering this area, but are preferred nabe is Hamilton Heights. Which in terms of ROI is better over a 5 year time? Thanks.
While I do believe that Lenox/130's area will improve- it doesn't seem to have the same trajectory as Hamilton Heights. Lenox in the 120's is doing well, but look at the surrounding avenue's- and the 130's is a more difficult push, especially if you look at the surrounding avenues. If you read any of my previous posts, it's rather obvious that I am biased toward Hamilton Heights. That said, after an extremely prolonged search for several years, I selected Hamilton Heights back in 2005 and I still believe I made the right choice for my home and as a long term investment.
The pro's of upper central harlem include proximity to 125th and easy access to every subway line and Metro North and Lenox in the 120's is experiencing a major revitalization. You have potential for high profile projects in the pipeline such as the infill buildings of Lenox Terrace...but you also have a lot of fighting from the existing residents.
I have long argued that Hamilton Heights doesn't have some of the structural weaknesses that some other sections of Harlem has- i.e. lots of housing projects, lots of methodone clinics, etc, but is on the cusp of the Columbia University expansion, houses the City College which is also expanding and becoming higher profile, etc. You can already start seeing better quality services enter the neighborhood.
thank you semerun. Really appreciate that. we love HH but feel priced out of the brownstone market at the moment. hopefully more inventory will come on the market. we don't have resources to do a full gut, a partial one or update we have but not a 12 month full on renovation.