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October 04, 2005
It's getting hot in here
The Mt. Morris Historic District, the Manhattan neighborhood where I live, has been in the papers several times as rowhouse sale prices exceed $2M. I covered the move-in of a well-known film director recently. Here is an article from the Daily News with a typical tidbit:
In 1989, Humphrey Stephenson, a muscular, soft-spoken, 56-year-old printer, bought a brownstone on W. 119th St. for $65,000. It was a block plagued by murders.Today he's refusing multiple offers for it, most recently $1.8 million. He wants $2 million, since the house across the street sold for that.
"I worked very hard on this place. In the '80s, no one wanted to live in Harlem," he said. Today, his neighbors are doctors and lawyers, most of them white.
"All of Harlem is hot, but some of it is scorching," said veteran broker Willie Kathryn Suggs.
Hamilton Heights and Mt. Morris Park are drawing black, white and foreign buyers hungry for big, historic houses with easy subway access to downtown, said Spencer Means, a vice president with Corcoran Realty.
Sounds like an internet stock.
Posted by adrianjo at October 4, 2005 06:08 PM