2021 Lawyers in Real Estate Awards
Last year, the Connect CRE team followed up our well-received Next Generation Awards and Women in Real Estate Awards with the inaugural Lawyers in Real Estate Awards. For...
2021 Women in Real Estate
Announcing the 2021 Winners for the Connect CRE Women in Real Estate Awards.
From hundreds of submissions, we have highlighted women with achievements and...
2021 Next Generation Awards
Connect Commercial Real Estate is proud to present the winners of our 2021 Next Generation Awards. In one of the most challenging years on record for the industry,...
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The East Harlem neighborhood of Manhattan has become a haven for those priced out of other Manhattan neighborhoods. This, in turn, has been driving up home prices and rents and attracting new development, according to research from GFI Realty Services.
“The Second Avenue Subway is fueling further confidence in the area, and is helping to silence doubts about East Harlem’s potential for prosperity,” said Justin Fitzsimmons, research analyst of GFI Realty Services. A planned extension of the subway and rezoning of the area should drive even more investment.
At the end of 2016, the median rent of an apartment in East Harlem was about $2,325 — a 5% jump from 2015. As of February, the median rent had reached $2,399.
On the residential sales side, the median price was $810,000 — up an impressive 12% jump above 2015’s numbers. Furthermore, total sales volume reached $112 million — nearly double from 2015.