Move over, Chelsea and the East Village. There’s a new neighborhood that’s attracting the wealthiest of Manhattan, and that happens to be none other than historic Harlem. Recent reports have said that the prices for apartments in Harlem have been steadily growing, with the latest example of this trend being the sale of a luxury penthouse in One Museum Mile for $3.1 million. More proof for this trend has been exhibited in the fact that from 2007 to 2012, the prices of apartments near 110th Street in Harlem have increased by 39 percent.
The upheaval in the neighborhood has been attributed to the many changes occurring in the neighborhood, with several new city attractions finding a home in the Harlem neighborhood. The Museum for African Art, housed in the same building as the aforementioned penthouse, is expected to act as an “economic engine,” driving in more visitors, and thereby more money, into the neighborhood. Designed by Robert A. M. Stern Architects, the museum is the newest entry on Museum Mile, with the last being the Guggenheim in 1959.
But the museum building and its luxury condos have come in for some criticism as well. Councilwoman Melissa Mark-Viverito said that though the One Museum Mile building was meant for education purposes, it became a space for luxury condominiums instead. She was also worried that apartment rents for Harlem’s predominantly black population could also be increased as a fallout of this trend. But with recent news of the legendary but neglected Victorian Theater in line for a renovation as well, it seems that this trend is here to stay.