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A blog for breaking sales and neighborhood real estate news.

A walk-up building at 79 West 127th Street, located between Lenox and Fifth Avenues in Northern Manhattan’s Central Harlem neighborhood, sold in an all cash transaction valued at $1,572,000.

The five-story building was in a state of disrepair due to a previous fire. At approximately 26’ wide and 10,495 square feet the buildings department had filed plans for a 20 unit apartment building. The property is ideally located just off one of Central Harlem’s most exciting and rapidly developing retail corridors. World renowned chef Marcus Samuelsson’s new restaurant Red Rooster and long time neighborhood icon Sylvia’s draw customers from around the world. Additionally, major retailers and the 2 and 3 trains are located just a few blocks away.  The sale price equates to approximately $150 per square foot.

“We were quite pleased with the bidding activity on this property.  Within a three week period we had over twenty offers with a handful at or above the asking price. In fact, bidding was so aggressive that we had to call for “highest and best” in a sealed bid process that ultimately led us to our final sales price which was approximately 5% above the asking price,” said Massey Knakal First Vice President of Sales Robert M. Shapiro who exclusively represented the seller in this transaction with Massey Knakal Director of Sales Lev Kimyagarov.

Click here for press release

Neighborhoods: Harlem/ Agents: Robert Shapiro