$361,500
Updated 7 years ago
Sold

1 West 126th Street, 4-F

Harlem, Manhattan | Fifth Ave & Lenox Ave

5 Rooms2 Beds1 BathCo-op

$361,500
Maintenance$604

This property was sold for $361,500 on 06/27/19.

Outdoor space and views

  • East Exposure
  • South Exposure

Building Amenities

  • Voice Intercom
  • Elevator
  • Laundry Room

Policies

  • No Dogs. Cats Allowed.

Property Description for 1 West 126th Street, 4-F

SIGNED CONTRACT!

Sun-flooded, South East facing 2 bedroom / 1 bath art deco co-op home at 1 West 126th Street.

1 West 126th Street HDFC is a landmark, art deco, pre-war building in Harlem in the desirable neighborhood of Mt. Morris Park. The building has a rich history, and is the former home of legends such as: Eartha Kitt, Billy Eckstine and Della Reese.

The building has an elevator, live-in super and laundry room on-site. 1 West 126th Street is an HDFC income restricted co-op. The annual household income restrictions are determined by 165% of the area median income for 2018 and are as follows:

1 Person: $120,615 Max
2 Persons: $137,775 Max
3 Persons: $154,935 Max
4 Persons: $172,095 Max

Cats are allowed. Sorry, no dogs. It is possible to obtain 90% mortgage financing in the building.

NOTE: 1 West 126th Street HDFC is an affordable housing cooperative and is intended to be a primary residence for all of its owners. The building is NOT INVESTOR FRIENDLY. If you are looking for an investment property, please kindly cross this listing off your list.

With this in mind, there is a STRICTLY ENFORCED FLIP TAX:

95% Flip Tax after 1st Year of Ownership
90% Flip Tax after 2nd Year of Ownership
85% Flip Tax after 3rd Year of Ownership
80% Flip Tax after 4th Year of Ownership
75% Flip Tax after 5th Year of Ownership
50% Flip Tax after 6th Year of Ownership
40% Flip Tax after 7th Year of Ownership
20% Flip Tax after 8th Year of Ownership

Building Details for 1 West 126th Street

OwnershipCo-op
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessElevator
Year Built1940
Floors/Apts6/48
Learn More About the Building

Transit and Citi Bike

Subway

125 St
0.18 miles
125 St
0.32 miles
135 St
0.48 miles

Railroad

Harlem-125 StMetro-North Railroad
0.21 miles

Citi Bike

5 Ave & W 126 St
0.01 miles
E 128 St & Madison Ave
0.15 miles

Contact Agent

Contact Agent

Licensed As
Mable S Ivory
Salesperson
License#:
40IV1107640
Company:
Engel & Volkers
Mable Ivory
Engel & Volkers

Harlem | Manhattan

Quick Profile

The neighborhood called West Harlem by the locals is known as Manhattanville to neighborhood newcomers. The area is culturally diverse and might be considered a microcosm of the city as a whole. 

Columbia University has recently expanded into the area, which is attracting student residents from all over the world. Together with students from the City College of New York and young professionals fleeing higher prices in other neighborhoods, this influx of younger residents has brought with it more restaurants and bars on W 125th Street to serve this clientele. There are also new ventures, like a rock-climbing gym, to cater to the interests of these students and young professionals. At the same time, there are many small, family-owned shops and restaurants that have been anchors of the neighborhood for multiple generations.

The area has been through a housing upgrade, as older properties have been renovated and abandoned properties have been razed to make room for new development. There are still reasonably priced apartments available. Young professionals are finding that there is a certain cachet to living in West Harlem. It provides a convenient commute to the city and all of its amenities, while providing a sense of escape at the end of a long work day.

While rentals are popular with the student population, the young professionals are delighted to find pre-war brownstones, pre-war co-ops (including some income-capped HDFCs for lower- and middle-income buyers), and post-war condos that they can afford, although prices are rising. Some new low-rise developments, sporting virtual doormen and desired amenities, are cropping up.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 1765345