Buyers looking at real estate for sale in Manhattan might consider the East Harlem neighborhood. East Harlem is one of several distinctive neighborhoods in New York City’s Manhattan borough, and specifically located in Upper Manhattan. Sometimes known as Spanish Harlem or El Barrio, it lies in a square-shaped area bordered by East 115th Street, First Avenue, Third Avenue and East 109th Street. East Harlem is just north of the Upper East Side and is part of Manhattan Community District 11. Despite the name, East Harlem is not considered a part of the more famous Harlem neighborhood. East Harlem has a population of about 116,000 as of a 2010 estimate. Those looking for East Harlem apartments for sale will find a median price of $475,211 and a majority of buildings built between 1940 and 1969.
East Harlem History
Buyers looking for East Harlem apartments for sale in Manhattan NYC should know that the neighborhood is currently undergoing gentrification and was recently featured in the New York Times in an article about the city’s upcoming hottest neighborhoods. East Harlem has been a largely Spanish and Italian influenced neighborhood for much of its history, but was first settled by immigrants of Eastern European Jewish descent. Before the 20th century, the majority of the East Harlem area was rural. By 1860, a few settlements developed just northeast of what is now Third Avenue. In 1919, the Lexington Avenue subway was constructed and this helped urbanize the neighborhood and make way for the construction boom of townhouses and apartments. By the 1870s, a large number of Italian immigrants moved into the area as strikebreakers. Remnants of Italian Harlem still remain in buildings such as the Church of Our Lady of Mt. Carmel and the well-known Patsy’s Pizzeria, which was founded in 1933. In the late 1880s and early 1900s, the area was often called Little Italy and had infamous ties to the Italian-American Mafia.
After the first World War, immigrants from Latin America and Puerto Rico began to arrive in the area and give it the current Spanish influence that it enjoys today. Italian Harlem persisted through the 1970s before giving way to the Spanish influence. The 1950s and 1960s saw urban renewal projects take place in large portions of the East Harlem neighborhood. The values of East Harlem real estate for sale in Manhattan have historically been low as it has been considered a working-class neighborhood. However, the values of East Harlem apartments for sale rose in the 21st century until the real estate crash in 2006. A number of the East Harlem apartments for sale in Manhattan NYC are located in buildings that were built on vacant lots during this rise in rates. Many buildings were also renovated to appeal to young professional buyers at that time.
An article by the New York Times written in February of 2016, highlighted East Harlem as one of four hot neighborhoods for buyers in the present and near future. It was described as one of the few areas left in New York City where buyers could find good deals. East Harlem’s appeal was couched in easy access to transportation, new retail stores, plenty of bars and restaurants and the arrival of new luxury developments. The main selling point remained the lower cost of housing compared to the rest of Manhattan and New York City.
East Harlem Neighborhood Profile
East Harlem real estate for sale in Manhattan includes some housing developments, but most residences in the area are in four to six story buildings. Thanks to the New York Times profile of East Harlem, buyers understand the main selling points for apartments for sale in Manhattan NYC in this neighborhood are good prices and good access to transportation. Several bridges connect Manhattan to other parts of New York, including the bridges over the Harlem River leading to the Bronx, as well as the Wards Island Bridge and the Triboro Bridge, which connects to Queens and the Bronx. Public transportation is run by the MTA, or Metropolitan Transportation Authority. East Harlem contains the IRT Lexington Avenue Line with trains 4, 5 and 6 at 125th Street. The MTA also operates buses within the neighborhood and the 125th Street station contains the Metro-North Harlem commuter rail. There are also a few bus routes from the Bronx that serve Manhattan as well to give customers extra access flexibility near East Harlem apartments for sale.
East Harlem real estate for sale in Manhattan has close proximity to the local Manhattan Center for Science and Mathematics, which is a public high school in the neighborhood. It used to be called Benjamin Franklin High School and it opened in 1943. It was closed in 1982 and the building was converted into the current four-year high school. The building also houses the the Isaac Newton Middle School for Math and Science for grades six through eight. Academic records for this school are very high and it’s considered one of the best schools in the state. Along with the Manhattan Center, there are also some public charter schools, including Success Academy Harlem 2, Harlem Village Academy, Dream Charter School and East Harlem Scholars Academies. Buyers of East Harlem apartments for sale can expect to have access to medical providers such as the Metropolitan Hospital Center and the Mount Sinai Hospital. The latter also serves the Upper East Side.
Buyers looking at East Harlem apartments for sale in Manhattan NYC will be interested in the large number of historical buildings within the neighborhood. Some of the buildings located here include the Museum of the City of New York, the Julia de Burgos Latino Cultural Center, the El Museo del Barrio, the National Museum of Catholic Art and History, the Hellenic Orthodox Church of Sts. George and Demetrios among others. El Museo Del Barrio is a museum that features exhibits of Latin American art and culture. The National Museum of Catholic Art and History was founded in 1995 and features a variety of donated Catholic art. East Harlem also contains the New York Public Library 125th Street Branch. The hub of Spanish Harlem is considered to be the area from East 116th Street coming from Fifth Avenue. Visitors and residents pack the area due to its proliferation of street vendors and taquerias. Thomas Jefferson Park lies on the eastern boundaries of East Harlem and borders FDR Drive along the Harlem River. This park covers a few blocks and contains a small recreation center, baseball and handball areas, plus a big playground for children. It’s a popular destination for residents to get out and exercise. In the summer, an outdoor pool is available and many people arrive to utilize barbecue grills and picnic benches.
Finding East Harlem Real Estate For Sale In Manhattan
Buyers look at East Harlem apartments for sale in Manhattan NYC can expect 55 percent of properties to run from $406,001 to $507,000, while about 27 percent of apartments run between $507,001 and $761,000. About 12 percent of properties are over $1,015,000, while six percent range between $761,001 and $1,015,000. Most East Harlem apartments for sale were built between 1940 and 1969, at about 59 percent. Around 19 percent of properties were built before 1939. Only about 12 percent were built between 1970 and 1999 and a mere nine percent were built after the year 2000. The vast majority of properties in East Harlem are located in apartment complexes, at nearly 94 percent. A mere five percent are located in small apartment buildings. Nearly 80 percent of apartments range between studio size and two bedrooms. About 20 percent of residences are between three and four bedrooms in size.
East Harlem has garnered a trendy reputation in recent years and that is reflected in the prevalent age groups in the neighborhood. A little over 40 percent of residents are between the ages of 18 and 44, making it a favored spot for young professionals. Another 20 percent of residents are in the 45 to 64 age group.
East Harlem is one of the hottest up and coming neighborhoods in Manhattan with a distinctive cultural heritage and influence. It is considered one of the last places to get a really good deal in the borough, but that’s where an experienced real estate agent is needed to help navigate the market. Buyers looking for East Harlem apartments for sale should make sure to find an agent who knows the Manhattan market well, and specifically the East Harlem market. Whether you’re looking for Apartments for Rent in East Harlem or real estate for sale, you’ll fall in love with our options.