Is Aurum on the 131th street a good investment?

I have been following the Harlem market for 15 years, as a potential buyer for the first few years, currently an owner, and most recently as an agent. I have been bullish on Harlem and I remain bullish. As downtown has gotten far more expensive and untouchable for many, people that would have only considered buying below 96th street just a few years ago are buying in this area. Whole Foods should be opening in the next month or two on 125th st. Add to that all the new great restaurants that have recently opened in the upper 120's and Lenox. With the 25 year tax abatement and features such as an energy co-generation plant- it will help keep your monthlies low. That said, obviously investment objectives vary- and may depend whether you are seeking a high cap rate/ ROI vs. appreciation and equity. High cap rates are not easy to come by in Manhattan, and I doubt this will be the exception, but I do think you would be able to get a nice level of appreciation on this property.

I am sure there will be detractors saying that the property is Harlem. Keep in mind, if you had listened to them over the years not only would they have been proven wrong, but you would have missed out on some amazing opportunities.

Umm ... isn't this up in Harlem?

Plumbum is cheaper, and can be painted over, tricking a lot of people.