Harlem’s New Rush: Booming Real Estate

The transformation of this historic capital of Black America has taken an amphetamined step or three beyond a Starbucks, a Body Shop and former president Bill Clinton taking an office on 125th Street. Officials have broken ground on a glass-enclosed, 204-room Courtyard by Marriott. And housing prices have soared into the stratosphere, threatening to leave behind thousands of Harlem’s poorest.

Four years ago, the advent of the $400,000 brownstone in central Harlem was met with whoops of disbelief. Today, the average brownstone shell in central Harlem sells for $1.1 million, and median sales prices of co-ops and condos in Harlem have jumped to $309,000 from $60,000 in 1995.

Read this article from the Washington Post.

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