Washington Heights

Good values to be found in an 'overlook' neighborhood

By Jonathan Scheff | Special to amNewYork

December 21, 2006

New Yorkers who've made the move north to Washington Heights often rave about this upper Manhattan neighborhood.

"Washington Heights doesn't feel like Manhattan," said Hilary Rothman, a resident and mother of two. "It feels like a borough, with more space and a neighborhood feel. People actually smile at each other."

Brokers never thought they would see buyers getting priced out of Harlem, but that is now the case.

Buyers and renters alike turn to Washington Heights as an affordable chunk of Manhattan, where the same price will garner twice the space as in midtown.

Kelly Cole, a resident and a vice president of Corcoran, said: "Quality of life means different things to different people. For me, I moved here from my west side apartment in midtown because I wanted to live like an adult in an adult-sized apartment."

"I was willing to commute an extra 20 minutes and have fewer conveniences right outside my front door in order to have double the space and a river view," she said. "To me, those are real quality of life issues that I can really hang my hat on."

Washington Heights, which has a large Dominican population, is home to landmarks such as the historical Morris-Jumel mansion. Among the historical figures past and present who've called the neighborhood home are Joe Lewis, Count Basie, Lena Horn, Thurgood Marshall, Teddy Wilson, Canada Lee, Duke Ellington, Paul Robeson and, most recently, Alicia Keys.

"[Washington Heights has] great, unknown, under-visited treasures of New York City. It is a monument to the fact that ignorant people think there's no culture above 96th Street," said Dr. George Presto, a founding director of The Museum of Art and Origins.

Find it

Washington Heights is bounded by 155th Street on the south, Fairview Avenue on the north, the Hudson River on the west and the Harlem River on the east. Its neighbors include Inwood to the north and Hamilton Heights to the south.

Real estate

Co-ops dominate the real estate market in Washington Heights.

"A lot of the pre-war rentals are converting to condo, which is a sign of where the neighborhood is going, because the developers are now coming in and jumping on the bandwagon," said Kelly Cole, who is at Cocoran.

Buyers should expect to pay $365,500 for a one-bedroom co-op, $585,000 for a two-bedroom and $694,500 for a three-bedroom.

Of current rentals on the market, one-bedroom apartments are asking an average of $1,150 per month. Two-bedrooms run at $1,550 per month and three-bedrooms at $2,050. Laura Pittounikos, a life-long resident and an agent with A.N. Shell Realty, remarked that most properties are still rent-stabilized.

"The actual apartments are amazing," Pittounikos said. "You get a lot more square footage, hardwood floors. The detail and architectural style are like no other for pre-war buildings. Some even have sunken living rooms."

Recent sales:
-One-bedroom co-op for $340,000: 860 West 181st St., 750 square feet
-Two-bedroom co-op for $525,000: 790 Riverside Dr., 950 square feet
-Two-bedroom co-op for $595,000: 359 Fort Washington, 1,200 square feet