Two Harlem Developments Slash Condo Prices Just In Time For The Holidays
Front and back views of Graceline Court
Have a family member with expensive taste? A deed would make a great stocking stuffer! Okay, this isn’t exactly a Kmart blue light special, but condos at Graceline Court over on 116th and Lenox have just gotten a little cheaper. The cost of a one-bedroom and a two-bedroom unit have dropped by almost $100,000 each to the bargain basement discounts of $595,000 and $895,000 respectively.
The other Harlem development that is in the price-slashing mood is One Strivers Row on Frederick Douglass. Most of the two-bedroom units are being offered at 6.3%-7% cheaper.
Maybe that cliff dive that housing prices around the country are experiencing is finally starting to trickle into Harlem. If the norm becomes not seeing 6 zeros in the price for a family-sized condo in Harlem, that would be great.
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Any chance of this really happening? For that matter… would be nice even for a studio.
quote: If the norm becomes not seeing 6 zeros in the price for a family-sized condo in Harlem, that would be great.
Thanks for pointing that out. I’ll change this little blurb accordingly.
Unfortunately, it looks like the author is shooting for sensationalism here rather than informed reporting. When I read the article, I thought that would have been an amazing price drop for a building in that location, so I checked for myself; only to find the facts completely wrong.
Only the price of one two bedroom and one three bedroom have been reduced – not the whole building. From what I could tell, no other price changes have occurred except for those two units. Sorry folks, the sky is not falling yet.
Oh please, the units in Graceline Court were overpriced to begin with…the broker, who happens to be very agressive, seemed to be testing the waters….so there really isn’t any rirce chopping going on. Besides who’s going to over pay for view of that ugly green dome!
i agree with poster #1.
harlem, and east harlem have not reached their full potential peak yet as neighborhoods. thats gonna take a long time. people can take that same money and put it towards areas that have already “arrived”.
I’ve noticed that the more entry/mid-level condos in Harlem sell a lot faster than the higher-end ones. For example, The Aura in E. Harlem is almost sold out after a month or so and the prices are in the $300,000s-$400,000s (yes, I know it isn’t “cheap”, but is still more reasonable than most other developments). It seems to me that developers should try and build more of these mid-level condos in Harlem before shooting for the $1,000,000+.