I love when I pitch an idea to the New York Times and it runs. I love it a lot less when I don’t get quoted, and my amazing properties aren’t featured!
My amazing Hamilton Heights Property on 147th Street
All I will say is that I wrote about the L Train shutdown a few months ago- what I think happens to renters looking for a new place – and the Times finally ran a fun neighborhood piece this past weekend.
I don’t think that the piece does much of a job thinking outside the box. They talk about other parts of Brooklyn that developers are eyeballing along different trains. They do talk about Mott Haven, which barely has enough free-market housing for renters, and even less for buyers.
It seems that they have fully neglected Upper Manhattan. And if I trust the artists and pioneers in my life, they have already identified Hamilton Heights, Washington Heights, Harlem outside of South Harlem and West Harlem, and beyond. All in Manhattan, all with amazing transportation, all much, much less expensive than the Lower East Side, which is the only Manhattan nabe covered in the piece.
Townhouses in Upper Manhattan just a few years ago were in the $800k-1MM range, and certainly were in the $200-300k range when I started in Real Estate 15 years ago. Fast forward, full townhouses have already risen past $2mm in Upper Manhattan for the most part, unless they are nothing more than shells. It’s become abundantly clear that the opportunity for developers, for buyers, to consider condominiums uptown, is here and opportunities to see price appreciation for first movers is also here.
So let it be said here first, in the context of our discussion here, that Upper Manhattan has value, great housing, amazing blocks, and a burgeoning rental and condo market that is worth exploring. More train access, more and more interesting new restaurants and decades-old local favorites, and Riverside Park to boot!
I only wish that I had the opportunity to talk about it more with an even bigger audience this week!