The document discusses the real estate market in Harlem and provides examples of significant appreciation in property values over periods of 1 to 3 years. Several multi-unit residential and mixed-use commercial properties are listed with the sale price and date, previous sale price and date, and the percentage increase in value. Record breaking profits of over 100% appreciation in just a few years are being realized from the sale of these properties as the Harlem real estate market continues to strengthen.

1. The highlighted transactions are just some examples of how much the Harlem real estate market
has appreciated year over year. Below is a breakdown of what the property is, how much and when
it sold this year, the previous sale information and the appreciation of the property in that time. As
you will see, there are record breaking profits being realized by sellers in this market.
1. 17-27 West 125th Street is a 46,200 square foot, 56-unit
mixed-use building standing 5 stories. The asset traded for
$29,618,150 on August 19th, 2015. The seller purchased the
property in July 2013 for $13,600,000.
A 118% INCREASE IN TWO YEARS.
2. 138-142 East 112th Street is a 43-unit, 47,106 square foot
multifamily building. The property was sold on April 30th,
2015 for $16,250,000. The seller purchased the building for
$9,935,000 in March 2013.
A 64% INCREASE IN TWO YEARS.
3. 1985-1991 Third Avenue is a 4 story mixed-use portfolio with
a total of 100’ of frontage on Third Avenue and 92’ on East
109th Street. The properties traded for $16,000,000 on June
18th, 2015. The assets were purchased two years earlier for a
combined $9,750,000.
AN INCREASE OF 64%.
4. 124-128 East 107th Street is a 50’ wide mixed-use building
that sold for $9,150,000 on September 8th, 2015. The asset
previously traded in March 2011 for $3,810,000.
AN INCREASE OF 140% IN THREE YEARS.
5. 26 East 125th Street is a 3-story, 10,038 square foot commercial
building that sold for $7,050,000 on January 29th, 2015. The
seller purchased the building in February 2014 for $5,300,000.
A 33% INCREASE IN JUST UNDER ONE YEAR.
6. 2254 Fifth Avenue is an 18-unit, 6-story mixed-use building
that sold on September 8th, 2015 for $5,900,000. The seller
purchased the property for $3,370,000 in March 2013.
A 75% INCREASE IN TWO YEARS.
7. 89 East 116th Street is a 5 story mixed-use building with 25’ of
frontage on 116th Street that sold on November 5th, 2015 for
$4,800,000. The property had sold previously in October 2013
for $2,800,000.
A 71% INCREASE.
8. 66 West 138th Street is a 5-story multifamily walk-up building.
The 20-unit, 10,955 square foot building sold for $3,650,000 on
November 6th, 2015. Just 7 months earlier the property traded
for $2,500,000 in April 2015.
A 46% INCREASE.
9. 1731-1733 Lexington Avenue is a 34.25’ x 65’ development
site that sold on June 22nd, 2015 for $2,600,000 or $290 per
buildable square foot. The seller purchased the property for
$1,525,000 or $170 per buildable square foot in March 2015.
A 70% INCREASE IN JUST THREE MONTHS.
10. 2038 Madison Avenue is 4-story, 2-family brownstone building
that was purchased on April 15th, 2015 for $2,200,000. The
seller purchased the property for $675,000 in March 2013.
A 226% INCREASE IN TWO YEARS.
11. 133 West 136th Street is a 4-story, 2-family brownstone
building that traded on May 11th, 2015 for $2,200,000. The
seller purchased the building for $730,000 in July 2013.
A 201% INCREASE IN TWO YEARS.
12. 354 East 116th Street is a 4-story, 4-unit mixed-use building
that sold for $2,200,000 on July 9th, 2015. The seller
purchased the property less than a year earlier for $1,500,000.
A 47% INCREASE.
13. 53 West 127th Street is a 4-story, 6-unit brownstone building
that sold on October 9th, 2015 for $2,150,000. The seller
purchased the building for $1,140,000 in December 2013.
AN 89% INCREASE IN TWO YEARS.
14. 159 East 121st Street is a 4-story, 4-unit brownstone building
that sold on March 24th, 2015 for $1,590,000. The property
previously traded in March of 2013 for $755,000.
A 111% INCREASE IN TWO YEARS.
15. 2040 Madison Avenue is a 4-story, 4-unit brownstone building
that sold for $1,525,000 on September 4th, 2015. The seller
purchased the property for $489,255 in March 2012.
A 212% INCREASE IN TWO YEARS.
16. 2291 Adam Clayton Powell Jr. Boulevard is a 4-story, 4-unit
mixed-use building that sold on January 9th, 2015 for
$1,225,000. The asset traded previously for $750,000 in
February 2014.
AN INCREASE OF 63% IN JUST UNDER ONE YEAR.
17. 116 west 127th Street is a 16.67’ x 99.92’ development site that
sold on March 26th, 2015 for $860,000. The seller purchased
the lot for $410,000 in July 2012.
AN INCREASE OF 110% IN JUST UNDER THREE YEARS.
1 4 7 8 15
East Harlem Market Update
Lev Kimyagarov

2. *Average of Elevator, Walk Up, Mixed Use, Office, Retail
1Q
’09
3Q
’09
1Q
’10
3Q
’10
1Q
’11
3Q
’11
1Q
’12
3Q
’12
1Q
’13
3Q
’13
1Q
’14
3Q
’14
1Q
’15
3Q
’15
3%
4%
5%
6%
7%
8%
9%
6.9%
5.5%
4.9%
4.1%
4.0%
Manhattan
Northern Manhattan
Brooklyn
Queens
Bronx
10
15
20
25
30
35
40
Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct.
Cushman & Wakefield Copyright 2015. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMIT-
TED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). AS
APPLICABLE, WE MAKE NO REPRESENTATION AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) IN QUESTION.
CUSHMAN & WAKEFIELD
275 Madison Avenue, Third Floor
New York, NY 10016
nyinvestmentsales.com
For more information or if you would like a Broker
Opinion of Value for your property, please contact:
Lev Kimyagarov
Director
212 660 7729
lev.kimyagarov@cushwake.com
Rebounding from the 2008 recession, the
global economy has upheld against many
disturbances thus far in 2015. Nearing
pre-recession highs, there is uncertainty
as to how much more this economic
state can withstand. Most recently, in
late august, China’s stock market took
a plunge as a result of their decision
to decision to devalue their currency.
The United States saw a dramatic and
immediate response with a “flash crash”
of the S&P 500.
Market uncertainties have caused many
responses including noticeable trends
in the New York City real estate market.
For the first time in seven quarters cap
rates have increased in all five boroughs
and for almost all property types. Price
per square foot has also been increasing
which infers the rise in rental rates has
continued.
Despite a market hesitation, through
the third quarter of 2015 transaction
volume has seemingly kept on pace and
has surpassed the quarterly average of
properties sold last year. Similarly, dollar
volume has surpassed the 2014 total and
is up from previous quarters. As volatility
settles, the market is seemingly hovering
at a high until further externalities occur.
CBOE Volatility Index
Source: FRED Economic Data, Cushman & Wakefield Research
NYC - Cap Rates*
Source: Cushman & Wakefield Research