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May 29 - Harlem Brownstones that were $5,000 - $40,000 in the 1980 now worth $2-4 million


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 8 years ago '16        #1
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May 29 - Harlem Brownstones that were $5,000 - $40,000 in the 1980 now worth $2-4 million
 

 
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In the 1980s, the city auctioned off 13 harlem brownstones in the range of $5K - $42K, all for the most part structurally sound

Because of widespread building abandonment by landlords in the last several years, the city has acquired 60 percent of the area's residential property, including at least 300 brownstones and town houses and 1,308 multifamily dwellings. The city has also acquired 15 percent of the area's commercial property and vacant lots.

Most of the city-owned housing is basically sound and, in many instances, architecturally distinctive. The city's Landmarks Preservation Commission, for example, has granted landmark status to all 13 brownstones whose sale was approved yesterday at fixed prices ranging from $5,000 to $42,000.

Because the demand for housing in Manhattan is continuing to grow as its availability at affordable costs declines below 96th Street, city officials are in a position to influence the housing boom that many believe will sweep through Harlem in the next decade and dwarf the buying of brownstones on the private market.

$4 million:
 http://www.zillow.com/hom .. 31547282_zpid/

$2 million:
 https://www.nestseekers.c .. rlem-manhattan



 http://www.nytimes.com/20 .. -for-sale.html



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