Harlem's record-setting house

Overseas Education | Oshrat Carmiel 15 Feb 2018

Oshrat Carmiel

a limestone townhouse in Harlem has gone from neighborhood eyesore to record-setter. The property at72 Hamilton Terrace, destroyed in a fire more than a decade ago then restored, sold for US$5.1 million (HK$39.78 million), making it the priciest sale in Manhattan above 125th Street.

The 5,000-square-foot townhouse has four bedrooms, five baths, a private garden and an 860-bottle wine cellar. The five-story property, built in 1898, was first offered in March for US$5.495 million, then pulled from the market and relisted in November for US$5.25 million.

"I felt this house was special enough and it was time that we could cross the US$5 million mark" in the neighborhood, said Tamara Marotta, the Corcoran Group broker who marketed and sold the home. "Of course, downtown, this house would be three times as much."

Homes in the northernmost part of Manhattan sold for a median of US$645,000 in the fourth quarter, up 4 percent from a year earlier.

The median price downtown - which includes Tribeca, Chelsea and the West Village - was US$1.41 million.

bloomberg

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