From the March issue: After steamrolling across the city, the condo boom headed to Harlem, promising high-end buildings in a neighborhood more known for historic brownstones. Many of those condos are now hitting the market during the bust, and developers are doing more than just dropping prices. They are looking for ways to trim costs, scale back amenities or squeeze margins. The list of Harlem projects that have either just come on the market or are getting ready to launch is long. In December, the 11-unit Sedona at 346 East 119th Street had a soft market launch, as did the 13-story Metropolis, which has 13 units, at 51 East 128th Street. The Douglass, at 2110 Frederick Douglass Boulevard, added 38 units to the market. At 2131 Frederick Douglass Boulevard, LivMor’s 73 condos were listed in January. The Madera, at 18 West 129th Street, has 12 units on the way. The Embelesar, at 152 East 118th Street, has 14. And the list goes on. [more]
Bad timing hurts Harlem condos
Arriving late, developments in neighborhood find ways to cut prices or costs
March 12, 2010 04:35PM
By Katherine Dykstra
