By Robert Demeter, Real Estate Writer, PropertyShark
Harlem is a less expensive alternative for those wanting to live in Manhattan, and the area has been seeing increased demand for residential properties and is slowly becoming gentrified.
Over the course of the years, prices have been gradually increasing in the neighborhood, with Harlem seeing a 45% increase since 2013, and East Harlem a 34% growth.
Over the course of the years, prices have been gradually increasing in the neighborhood, with Harlem seeing a 45% increase since 2013, and East Harlem a 34% growth.
Harlem will see a spike in residential interest for those looking to work for Amazon, as bus line M-60SBS cuts across Harlem and provides easy and direct access close to Long Island City.
Hoyt Av/31 St station in Astoria will be in close proximity to the new Amazon HQ. This would be the fastest option to get near to LIC, and alternatives would be switching 2 or 3 metro lines and crossing Queensboro bridge.
Currently, the median home sale price in Harlem is $625,000, while East Harlem boasts a median of $727,000. Morningside Heights has a median of $740,000.
Robert Demeter developed his passion for real estate by covering some of the hottest markets in the U.S. Demeter writes for Property Shark juggling real estate trends and market statistics.
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