All images of 70 West via Douglas Elliman
We're only a few weeks into 2020, but it's already clear that Central Harlem has emerged as one of the greatest success stories of the past decade. A building boom remains in full swing, the average price per square foot has leaped from $534 to $1,016 in the past ten years, and it remains to be seen how much longer a penthouse at Circa Central Park will hold onto its local record sale of $9.45 million. The recently opened mixed-income condo 70 West has no interest in challenging it, but is nevertheless a highly attractive option for individuals and families alike.
Forty-two of the 64 apartments were earmarked for median-income home-buyers earning between 80% to 165% of the area median income (AMI). A housing lottery took place in 2016, and a new lottery has just launched for four units. Individuals and households earning 150 to 165 percent of the area median income ($84,000 - $172,095) have until February 5, 2020 to apply for three one-bedrooms for $440,381 and one two-bedroom for $508,786. Further information and criteria may be found here.
In this article:
Lottery criteria via NYC Housing Partnership
As median prices for Harlem condos range from $743K for one-bedrooms to $1.125 million for two-bedrooms (figures per CityRealty data), this represents an excellent bargain. However, the small handful of market-rate condos remaining on the market at 70 West are not listed for intimidatingly high prices - one-bedrooms start at $649K, two-bedrooms start at $915K, and three-bedrooms start at $1.04 million. A 25-year tax abatement and low common charges further take the sting out of the sticker prices.
As the lottery takes place, we take an in-depth look at the building with Michael Greenberg, founder of Parkadon Management and Development. From the tiles on the lobby floor to the finishes in the kitchens to the turf on the roof deck, no detail was too small for him. He sought to ensure that the units below market rate were as well thought out as their market-rate counterparts, and that the apartments and amenities would be good enough for his own family.
History
Entrance
70 West took shape on a parcel of land that sat fallow for several decades after a 1980's fire consumed four contiguous buildings on West 139th Street. The building was developed as a joint-venture between Parkadon and the nonprofit New York Housing Partnership. The Community Preservation Corporation, Inc. (CPC), a leading not-for-profit affordable housing, provided a $21.3 million construction loan for the project. Groundbreaking took place in June 2015, and closings began in December 2018, averaging $918 per square foot.
The Location
Google Earth aerial showing 70 West in future New York skyline (CityRealty)
70 West's address of 70 West 139th Street situates it between Lenox Avenue (Malcolm X Boulevard) and Fifth Avenue. The building overlooks the grounds of Savoy Park and is one block west of the Harlem River. While the building is within Flood Zone 3, a personal bout with Superstorm Sandy compelled Michael to move all the building’s electrical equipment above grade. Fred Samuel Playground is catty-corner to the building, and local favorites such as Ponty Bistro, Belle Harlem, Harlem Nights, Manna’s Soul Food, and the original Make My Cake are nearby. The location is served by several bus lines and the 2 and 3 subway lines stop at the 135th Street station four blocks to the south.
The Design
Finished exterior of 70 West
Echoing the surrounding vernacular, the façade of the building is clad in vibrant red brick with limestone accents. “This attractive new neighborhood addition improves the urban landscapes and enlivens the streetscape,” says the 70 West’s website. Peter Franzese and Jorges Montes De Oca of Peter Franzese Design and Engineering are the architects. The top two floors are recessed and have a white bandcourse between them and open loggias and balconies above. The rear elevation is dressed in stucco and features long rows of balconies overlooking a parking courtyard.
The Residences
Living room
Kitchen
Bedroom
Whether market-rate or below market, all condos in the building feature airy layouts, lots of closet space, oversized windows, and wide-planked wood floors. Select units have jumbo washer-dryers and open kitchens with stainless-steel appliances and granite counter-tops. Several corner units have windowed kitchens and baths. Many units also have private turfed balconies and terraces.
Private terrace
#7G (One bed, one bath) (All floor plans via Douglas Elliman)
#3B (Two beds, two baths)
#8C (Three beds, two baths)
The Mural
Lobby with mosaic by Susan Stair
Inside the lobby is a sizeable permanent artwork called “Returning to the River” by artist Susan Stair in partnership with Harlem-based Art in Flux, a non-profit organization. Susan says she learned that a river once ran through the site prior to the development and paving over of Manhattan island. She wanted to celebrate the history of Harlem’s original landscape within this very tactile piece. The texture of the trees are made by taking impressions of the trees outside of the building and the colors are inspired by the richness of the local community.
Amenities
Fitness room
Amenities include an art-enriched lobby with a virtual doorman, on-site parking for 32 cars and 34 bicycles (with 220V electric outlets for car charging), 54 private storage rooms and an indoor & outdoor fitness and recreation center. The building is topped by a communal turfed roof deck with wide-angle views of the storied neighborhood. Also, on the roof are two private cabanas that Michael is considering renting to purchasers on a monthly or yearly basis. The building incorporates a powerful rooftop generator that will operate in Con Edison’s Demand Response program, as well as provide backup power to the building.
Roof deck
Would you like to tour any of these properties?
6sqft delivers the latest on real estate, architecture, and design, straight from New York City.
