Harlem New York Townhomes & Townhouses For Sale - 20 Homes | Zillow (2024)

FAQs

What is the most expensive townhouse in Harlem? ›

32 Mt Morris Park West | $6,350,000 (4/6/2022) | Central Harlem South. Introducing the extraordinary townhouse at 32 Mount Morris Park West, now in the hands of lucky owners. This magnificent residence boasts impressive space and a rich history, spanning 7,000 square feet.

The average price for townhouses for sale NYC in Downtown Manhattan was $9.2M or $2,000 per square foot where the average width was 21.4 feet and the average size was 4,674 square feet.

Townhouses usually retain their value, but they may not appreciate as much as detached homes. That said, a townhouse is still a good investment, especially if you want to buy real estate without committing to high maintenance and utility costs.

Townhomes can have good resale value, particularly in high-demand areas or markets with limited space for new construction. Factors such as location, community amenities, the condition of the property, and market trends greatly influence their resale value.

Central Harlem is one of the most popular neighborhoods for people living in Harlem, New York. It is the birthplace of the Harlem Renaissance (you can still visit Langston Hughes' house today), and it has been an artistic and cultural destination since the 1920s.

Sugar Hill got its name in the 1920s when the neighborhood became a popular place for wealthy African Americans to live during the Harlem Renaissance. Reflective of the "sweet life" there, Sugar Hill featured rowhouses in which lived such prominent African Americans as W. E. B.

While townhome sales are strong, and they offer homebuyers unparalleled benefits over a typical apartment, they can often be complicated purchases—the majority of New York's townhomes are around 100-125 years old, and may be situated in landmark districts—so buyers need to be mindful of the realities and action steps ...

48-50 West 69th Street on the Upper West Side in Manhattan just steps from Central Park and a few blocks from Lincoln Center, was recently listed for sale for a whopping $85 million making it the most expensive townhouse currently on the market in New York City as per listings available on StreetEasy.

Recent Trends in NYC's Home Purchase Market

Based on data from StreetEasy, the median sales price for homes that sold in 2023 was $764K, down about 2% from a record high of $782K in 2022 but back up to $785K in early 2024.

Townhouses are often built as part of gated communities or neighborhoods. Pros of townhouse living include affordability, HOA and shared amenities, and close proximity to neighbors. Cons of townhouse living include less square footage, less freedom about your home's appearance, and less privacy.

Why do some people prefer townhomes? ›

Similar to a single-family home, townhouses give you both living space and yard space often at a lower price. HOA fees also take care of yard work, exterior maintenance and other services that save you time, money and hassle.

A townhouse provides all of the luxury, comfort, strength, space, and stability needed to raise a family without all of the extra upkeep of a single family home with four outer walls, lots of yard area, and other private property concerns to maintain.

A significant part of the reason condos remain harder to buy and sell has to do with financing guidelines. (1) FHA financing, which is possible with only a 3.5% down payment (which can be a gift), lower credit score and higher debt-to-income ratio, now requires that the entire complex be FHA approved.

Resale Value

Because it is more similar to single-family homes, the value of a townhouse fluctuates more with the broader housing market. This means that townhouses can appreciate much faster than condos in a strong market, but it can also make selling more painful during a housing downturn.

Condos are typically cheaper than single-family homes, but tend to appreciate in value over time similar to detached properties. Condos can be a smart investment for first-time homebuyers, vacation homeowners and rental property investors.

More broadly speaking, the $80 million that Jeff Bezos spent on a 212 Fifth Ave. condo in 2019 remains the highest downtown residential sale; the $90 million purchase of an Upper East Side townhouse, though commercial in its use, in 2018 takes the cake for highest townhouse sale in Manhattan.

The most expensive areas of New York are NoHo, Hudson Yards, Tribeca, Central Park South, and Nolita. The average sales price in these areas exceeds $3 million. As you might expect, most wealthy New Yorkers live in Manhattan.

Tribeca. Located on the southwestern corner of Manhattan, Tribeca (“Triangle Below Canal Street”) consistently ranks as the most expensive neighborhood in NYC, according to several sources. Best known for its stylish industrial lofts and charming cobblestone streets, residents here enjoy a hip and upscale neighborhood.