| With the world economy at an all time low and | | | | businesses were being added to the area to |
| fears of a continued recession, it is hard to | | | | make it more liveable. |
| believe that an area in New York City is looking at | | | | With these new businesses and added growth |
| a climb in new home sales. The Harlem Real | | | | coupled with renovations to existing structures, |
| Estate boom is becoming one of the most | | | | home prices would settle in the mid six hundred |
| fascinating stories of growth in a market that | | | | dollar per square foot mark and even at this time |
| seems at best stagnant at this time. | | | | are starting to show increased revenue and |
| However, with new projects and building | | | | growth. Those that were forced to move out |
| renovations, the area of New York City that was | | | | during the housing boom have been able to |
| once known for its high crime rate and terrible | | | | recover and re-establish themselves within the |
| housing projects is now gaining the attention of | | | | area now. |
| not only investors within the city but those looking | | | | Growing Strong |
| to invest on a global level. Home sales in this are | | | | The area has also been adding new businesses |
| of New York City have been now increasing over | | | | with almost each passing month. Only a few |
| the last six months and have at least settled out. | | | | decades earlier, one would find nothing but fast |
| Moving Back | | | | food chains and small mom and pop stores within |
| A few years ago, many people that lived in the | | | | the area with hardly any upscale restaurants and |
| area known as South Harlem were forced to | | | | department stores. However, all of that has been |
| move out due to renovations being made to their | | | | changing over the last few years and now the |
| respective buildings in which they could not afford. | | | | southern part of Harlem is ever increasing. Harlem |
| During this time, Harlem real estate home prices | | | | real estate is said to be one of the hottest areas |
| (townhouses and apartments included) shot up to | | | | in New York City as of this time and it's still not |
| almost one thousand dollars per square foot in | | | | too late to get in on some of the bargains. With |
| some areas, which meant one would have to pay | | | | some searching around the internet, one can find |
| seven hundred thousand dollars for only seven | | | | many Harlem real estate brokers to choose from. |
| hundred square feet. With the onset of the | | | | One should always do research on the many |
| recession and as housing across the nation | | | | different real estate agencies available to make |
| dropped to record low levels, this area so a drop | | | | sure that he or she finds the right agency to |
| in home prices as well although they would quickly | | | | represent them whether they are buying a house |
| recover based on the fact that new buildings and | | | | or selling the one in which they live. |