240 Manhattan Ave

One Morningside Park

One Morningside Park gives and takes. Compact layouts, such as studios under 500 square feet and two bedrooms under 1,200 square feet, require residents to creatively use their limited space. But views, of Central Park on one side and Morningside Park on the other, and a plethora of private balconies make the building attractive enough that residences rarely hit the market — only one in the first half of 2024. “A lot of people went in and sort of redid the apartments because they understood they were buying the view,” says Julia Boland, a real estate agent at Corcoran who lives in Harlem. “And the view is protected because Central Park and Morningside Park are landmarked, so they’re never going anywhere.” The building has enough conveniences — 24-hour doormen, in-unit washer-dryers and an adjacent subway — to not give residents a reason to leave, and according to Boland, the mortgage rate rise starting in 2022 means many are staying put. “Once those mortgage rates shot up, anybody who wanted to sell and go elsewhere, they almost couldn’t. They’ve enjoyed low mortgage, low common charges. Where are they going?” “Some of the floor plans are a little bit quirky,” Boland says. At the low end, the few studios between 425 and 475 square feet may incorporate a loft bed to make full use of the combination kitchen, sleeping and living area. One bedrooms sized between 525 and 650 square feet are more common, and can include two closets in the bedroom, balconies and separate closets for the washer-dryer. The majority of units are two-bedrooms, which range from 1,000 to 1,150 square feet and often contain a well-sized foyer and balcony. Some two bedrooms have corner balconies with views of both parks, and there’s at least one 1,400-square-foot duplex. Three bedrooms generally vary from 1,250 to almost 1,400 square feet, with balconies, foyers and walk-in closets, except for a pair of full-floor penthouses on the top, which are 2,150 square feet. These benefit from extra wide terraces with completely unobstructed Central Park views. For units that haven’t been significantly updated, their finishes are a contrasting mix of dark-brown hardwood floors and cabinets, and bright-white Luce Di Luna quartzite countertops — with room for two-door refrigerators. Not all bathrooms have updated wall tiling, and many retain the original mirror with exposed storage shelves. In-unit washer-dryers are common, and a few especially spruced-up units have touches like a gel-fueled fireplace or chic, slatted wood paneling around the kitchen. Given the low transaction volume in this area — estimated by Boland at being down 42% from last year — current pricing info may be a little dated. However, most recently, studios have sold for around $600,000, and one bedrooms have sold for between $800,000 and almost $1 million. Two bedrooms have sold for between $1.5 million and $1.8 million, and three bedrooms have sold for $2 million to $2.4 million, not counting a penthouse that sold for $11.3 million years ago. Common charges range from $1.3 to $2.1 per square foot, and with the 421a abatement in place until 2040, monthly taxes are around $100 or less. Although many units have balconies, the shared roof deck makes sure every resident can enjoy the views of the two adjacent parks; and a few rooftop cabanas offer more private outdoor experiences. A fitness center and 24-hour door attendants round out the amenity package, and because the entrance is on Manhattan Avenue, residents don’t walk out directly into the heavy pedestrian and cyclist traffic on 110th Street. The grocery store across the street and Cafe Amrita next door let residents easily keep their fridges and bellies full. However, the real restaurant and bar scene is two blocks west on Amsterdam Avenue. Central Park never disappoints, but Morningside Park has its charms, like a waterfall and Saturday farmers’ market. Harlem jazz clubs like Minton’s are less than a mile north, and just west is the Cathedral of St. John the Divine, one of the world’s largest churches and a storied performance center. Just a block east, the B and C trains serve Manhattan’s west side, and farther over are the 2 and 3 trains. Central Park West and Amsterdam Avenue have south- and northbound buses for more local commutes, and two blocks up, 112th Street has a CitiBike station. Drivers have a little over a mile to the West Side Highway, for trips downtown or upstate.