130 Lenox Ave Unidad 402

Renaissance

HDFC properties — income-restricted co-op buildings — are hardly uncommon in Central Harlem, but few were built in the postwar era, let alone at the turn of the 20th century. Renaissance, New York City’s largest co-op complex, was constructed in 1999, just as the historically Black neighborhood was starting to undergo revitalization. The block-wide, u-shaped building incorporates 241 modestly priced studio to three-bedroom units. These mid-sized residences were first sold through a competitive lottery, but some have naturally changed hands over time. Even so, the complex continues to host a close-knit, economically diverse community that benefits from a wide range of amenities, favorable transportation links and proximity to Central Park; not to mention a thriving food and cultural scene in the vicinity. “The building is unique in that it has four different AMIs or area median income ranges, whereas most HDFCs only have one,” says Caryl Berenato, a broker with Compass who has been selling in the building ever since it opened. This means that combined annual household earnings cannot exceed 165% of these city government-determined indexes: $163,185; $205,095; $230,686 and $256,278. This also impacts the level of finishes and size. According to Berenato, the Renaissance is firmly “New York middle to upper middle class,” but because of the different brackets and residents who have lived in the complex for over a decade, there’s an economic range. “Because these different levels of units are mixed throughout, there’s no clear definition of these AMIs and the playing field among neighbors remains level,” she adds. “One can only guess because some of the features and finishes are different.” Of course, given the age of the property, no two units are the same, as they all incorporate alterations made by previous owners. Berenato is proud that she’s been able to place everyone from firemen to university professors in the complex. Though apartments cannot be sublet, they can be gifted and accommodate roommates. Central Harlem remains one of the most affordable places to buy property in Manhattan. While a 750-square-foot one-bedroom can sell for $375,000, a 1000-square-foot two-bedroom on the 9th floor goes for $610,000. Three bedrooms and a few converted four bedrooms can go upwards of $850,000. Though the scale and quality of residence distributes evenly across the complex, units on the top three levels tend to be bigger, align with the higher AMIs and sell for more. Around 14 of the units on the second floor and several on the 9th have private terraces. They fetch a slight premium. Regardless of size or AMI level, almost all apartments have large kitchens. A core concrete structure creates a sound barrier between units and noisy Malcolm X Boulevard outside. Though an HDFC co-op, the Renaissance has numerous amenities such as a full-time door attendant, a secured package room, a children’s playroom, ample storage spaces for rent, a parking garage with reasonable monthly rates located below the building and a second-floor laundry facility that gives out to a large, landscaped courtyard with integrated play structure. “You can be running a load and decide to step outside while waiting for it to finish,” Berenato describes. The 2 and 3 express lines serve the subway station located right in front of the Renaissance and take residents to 14th Street in 20 minutes. A trip to Midtown Manhattan is even shorter. The surrounding Central Harlem neighborhood is a hotbed of hip, owner-operated eateries that reflect its diverse population. Historic cultural venues like the Apollo Theater are found on nearby 125th Street, which also features a Whole Foods grocery store and other essential shopping.