Sunday, December 7, 2008

Welcome to my hood

My wife and I moved to Harlem about 18 months ago from the upper west side. Some days are good, other days, lets just say, have their challenges. The Sunday NYTimes has an article in the real estate section about a couple that bought in a new building on 116th street.

Overall our experience has been a good one. We traded 700 sq feet for 1,900 sq feet and a back yard. I can park in the street and still run in the park (actually, I have three parks to run in: Morningside, Central Park and Riverside), on the downside, Fairway is a little further away and we have way fewer restaurants to choose from....I think as long as the New York real estate market and the NYC economy does not completely fall out of bed, Harlem will continue to add the things that people who pay 600-1000 sq feet expect. We need more retail, coffee shops, dry cleaners etc. Once the re-zoning of 125th street kicks in and Columbia's push west begins, I think that we will see some real progress. In the meantime, anybody who wants bang for their buck should take a look in Harlem. There are great townhouse rehab projects available, and there is also much new development inventory that is on the market. Living in Harlem sure ain't the upper west side, but I think in time, we will we profit nicely from our decision.

NYTimes Harlem article

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