Harlem Home Sets Upper Manhattan Record With $5.1 Million Sale

A limestone townhouse in Harlem has gone from neighborhood eyesore to record-setter.

The property at 72 Hamilton Terrace, destroyed in a fire more than a decade ago then restored as a single-family residence, sold for $5.1 million, making it the priciest sale in Manhattan above 125th Street, according to listings website StreetEasy.

The 5,000-square-foot townhouse, near 144th Street and Convent Avenue, has four bedrooms, five baths, a private garden and an 860-bottle wine cellar. The five-story property, built in 1898, was first offered last March for $5.495 million, then pulled from the market and relisted with a new brokerage in November for $5.25 million.

“I felt this house was special enough and it was time that we could cross the $5 million mark” in the neighborhood, said Tamara Marotta, the Corcoran Group broker who marketed and sold the home. “Of course, downtown, this house would be three times as much.”

Homes in the northernmost part of Manhattan sold for a median of $645,000 in the fourth quarter, up 4 percent from a year earlier, Corcoran said in a report last month. The median price downtown — an area that includes Tribeca, Chelsea and the West Village — was $1.41 million.

For the full article from Bloomberg.com click here.

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