Overview

How far uptown is 1200 Fifth Avenue? That is the first question one might ponder when considering this building. The difference between the few short blocks which separate prime Carnegie Hill from East Harlem is tremendous–often amounting to millions. This building presents an interesting dichotomy for both those buying in the building and those who currently live in the neighborhood. A conversion of this magnitude (a classic, pre-war Emery Roth masterpiece into a modern, luxury-condominium) transforms the neighborhood all by itself, leading to other condominium conversions and new businesses close-by. New buyers have to consider the less-than-perfect 10029 zip code and residents on Madison and Park can prepare for more price hikes as the entire Harlem neighborhood continues to convert to condos at a rapid pace. It’s something of a compromise I suppose–for everyone but the developers and brokers who get paid handsomely for their time and efforts. (more…)