Showing posts with label upper manhattan. Show all posts
Showing posts with label upper manhattan. Show all posts

Aug 9, 2015

Sugar Hill Harlem Neighborhood

Sugar Hill way up in Harlem is a neighborhood with a rich history, culture and affordable homes.

Beginning in the 1870s Harlem was the site of a massive wave of development which resulted in the construction of numerous new single-family row-houses and apartment houses. Many of these apartments, typically floor-throughs and duplexes come with town house amenities, like terraces, gardens, fireplaces, and uncommonly good light for Manhattan. 

During the Harlem Renaissance of the 1920s affluent African-Americans began moving to Sugar Hill. "Sweet and Expensive," signifying that one had arrived, economically and socially. Sugar Hill was celebrated for its exclusivity and status. The Hill attracted those with talent, money, education, and social prominence.

The song “Take the ‘A’ Train,” written by Billy Strayhorn was the signature tune of the Duke Ellington orchestra commemorating the upscale neighborhood where they lived. Originally written in 1939 directions to get to his house by subway. The directions began: "Take the A Train" There was a new subway line and people were getting confused about the best way to get to Harlem.

Sugar Hill historic district is from 145th Street to 155th Street and between Edgecombe and Amsterdam. According to the Landmarks Preservation Commission, the rocky plateau that later became known as Sugar Hill was the setting for grand estates in the late 1700s and 1800s.

Sugar Hill, often considered part of Hamilton Heights, is almost entirely residential. It has rows of four- and five-story townhouses and handsome prewar apartment buildings.  Many are coops and affordable HDFC coops attracting a diversified mix of buyers.  

New Listing Coming Soon | 464 West 152nd Street #2

Feb 15, 2007

Moving on UP! Uptown Prices Soar!

Upper Manhattan Prices Boom from end of 2005 to end of 2006

Price information provided by the appraisal firm
Miller Samuel in the February issue of The Real Deal reports Upper Manhattan had the biggest price increases more than any other neighborhood in Manhattan between 4th Q 2005 and 4th Q 2006.

Washington Heights had the largest percent increase in average apartment price, reaching $543,100 in the fourth quarter of 2006 up from $282,333 in Q4 2005. A 92.4% gain over the last year.

Uptown Hamilton Heights and Morningside Heights increased 42.6% with average sale prices increasing from $355,157 in Q4 2005 to $506,3555 in Q4 2006.

Downtown lofts in Soho and Tribeca also saw large gainss 20.9% from $2,060,360 in 4Q 2005 to $2,491,298 in the last quarter of 2006. Lincoln Square 19.8% from $1,519894 4Q 2005 to $1,820,871 in 4Q 2004

Harlem and East Harlem had the largest rise in average price per square foot jumping 43%, from $474 to $678. followed by Soho and Tribeca increasing 27.1% from $1,048 to $1,332. followed by Soho/Tribeca at 27.1%. Soho and Tribeca had the highest average rents among Manhattan neighborhoods.

Average prices per square foot were down in several prime neighborhoods, including Greenwich Village, the Upper East Side and the Upper West Side.

The average Manhattan price rose 3.2 percent from the end of 2005 to the end of 2006
According to a report by Miller Samuel, median apartment prices in Uptown manhattan rose 349 percent from 1995 to 2004, going from $68,000 to $305,000 – twice as fast as in other parts of Manhattan.

The market outlook for 2007 is strong with record Wall Street bonuses and the continuing of new developments.

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