The Real Deal New York

“NoHa” penthouse hits market for benchmark $4.3 million

The condo's asking price exemplifies gentrification in Central Harlem
January 16, 2014 02:27PM

The owner of a penthouse condo at SoHa118 in Central Harlem is asking $4.3 million, more than any other home on the market in the neighborhood.

Brokers Mark Powell and Shlomi Reuveni of Brown Harris Stevens have the listing at 301 West 118th Street, according to the New York Daily News.  The Corcoran Group had the listing until the unidentified owner switched firms last summer, upping the asking price by a half-million dollars.

The 3,456-square-foot four-bedroom, four-and-a-half bath space is on the corner of West 118th and Frederick Douglas Boulevard. The apartment features two terraces, a balcony, custom cabinets and flooring, and a gas fireplace.

A Starbucks and a cleaner’s shop fill out the ground level at the 15-story residential-and-commercial building, which was developed by Artimus Construction on behalf of the Department of Housing Preservation and Conservation in 2008.

The expensive listing is a shift from the median selling price of homes in the area, at $759,000, foreshadowing a rise in Harlem home prices, the News said. Brokers re-branded the area as “NoHa” just last year, as The Real Deal previously reported. A 1,799-square-foot apartment next door at 301 West 118th Street sold for more than $1.8 million at the end of 2013, according to StreetEasy.

“We’re seeing an amazing trend of crowds from the Upper West Side coming to the Frederick Douglass Boulevard area,” Reuveni told the News. “The corridor offers a great opportunity and value.” [NYDN] — Angela Hunt