Condos in East Harlem
Started by nacho
almost 5 years ago
Posts: 24
Member since: Jan 2019
Discussion about
I'm doing some reserach on possible areas where to buy, and I saw in East Harlem several condos below $500k. I would say is the only area in Manhattan where you can get a condo below the half million limit. How is the area near 1st avenue on the 100s? Does it make sense paying this amount in an area plenty of projects? I would expect with the Q line extension to improve, that that will take in the best of cases at least a decade. On the other side, getting a condo with tax+maintenance below $1k in Manhattan is a great deal. Thanks for your comments.
Do you mean 1BR? There are sub-$500 studios in almost every neighborhood.
The only way to see how you personally feel about an area is to go up there yourself and walk around at different times of day and on different days. Everyone will have a different opinion.
I would not take into account the Q line inching any further north in a purchase decision
"1st Ave in the 100s" landmarks to me are the gas station, the White Castle, and lots of commercial parking lots...much too car-centric for me, almost like Queens. Great cycling route though for quickly getting uptown. Personally I'd rather be in the 110s (Patsy's! Costco!) and/or on 2nd Ave, both of which feel more like a proper pedestrian neighborhood.
But if you love Ward's Island and aren't put off by the bleakly commercial urbanism mentioned above nor by public housing, living right near the pedestrian bridge could be your ticket?
I'm talking about 1bed and even 2bedrooms condos.
I've been in the area several times and doesn't look that bad. I live now on the uws 80s and definitely is not the same. But there is no option to get a two beds on the same range. Not talking about the maintenance or fees.
Factor in Uber/taxi expenses and see if the numbers work for you.
I would also look at the history of resales in the buildings; how long do units typically stay on the market etc. What have sales patterns been like through various phases of the market.