Stephen G. Kliegerman
President of Development Marketing
South Harlem is seeing a considerable residential boom, due in part to the recent influx of higher-end retail businesses, the New York Times reported, with new condo development the Douglass, on the corner of West 114th Street and Frederick Douglass Boulevard, the latest luxury addition to the neighborhood. The region, which the Times defined as Frederick Douglass Boulevard between West 110th Street and West 138th Street, is seeing asking prices akin to those in Downtown Brooklyn and Fort Greene, according to Stephen Kliegerman, executive director of development marketing at Halstead Property. While the price per square foot in the region is around $600 to $700, down from $800 during the pre-recession high, the neighborhood has remained more stable than others in Manhattan during the market downturn, according to Kliegerman, and has outperformed many analysts' expectations.
Monday, December 28, 2009