4 Things to Consider Before Purchasing a Harlem Home

 

Harlem, located in the northern part of the Manhattan borough of New York City, is a melting pot. People from a variety of different cultures walk by iconic New York brownstones and modern high-rises. Trendy restaurants, stylish clubs, chic boutiques, and bodegas line the streets, making for some of the city’s best nightlife. All of this makes Harlem a hot location to purchase a home. If you are thinking of making the move to Harlem, here are four things to consider before purchasing a Harlem home.

 

While Harlem is already a great place to buy right now, it is only going to get better. A new law rezoning 125th Street, the main thoroughfare through Harlem, is changing it from a boulevard of low-rise buildings into a regional business hub. The new zoning will allow for buildings up to 29 stories, as well as condominiums, hotels, art galleries, and nightclubs. That means that now is an ideal time to buy because property values will undoubtedly increase.

 

The returns from all the planned development in Harlem will be far-reaching. One potential huge boon for the economic growth of the area will be the future spike in jobs. Investors are planning on building an estimated 1.7 million square feet of office, commercial, and retail space in Harlem. All that new space will create a wealth of new job opportunities, making the housing demand skyrocket.

 

Harlem is one of the most culturally significant places in the United States. From the Harlem Renaissance, which helped to bring African American culture to the rest of the world in the 1920s, to the world-famous Apollo Theater, where some of the biggest names in show business have performed, Harlem has been home to some of the most important cultural exports the United States has ever had. The significance of the location adds an invaluable asset to any home purchased in Harlem.

 

Harlem has a long and storied history, from the Harlem Renaissance, which introduced the world to the likes of literary figures Langston Hughes and Zora Neale Hurston, to the goofy antics of the Globetrotters. Throughout the years, Harlem has kept that creative energy, and today the city is creating what many call a “second Harlem renaissance.”

For more information on the Harlem real estate market, visit our website. If you are considering purchasing a home in the Harlem area, contact us today. It would be our pleasure to guide you through the process and help you find a home in this exciting area.