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51Units
7Stories
1910Year Built
Available Units
For Sale
For Rent
No Units Available
Highlights
Pre War Building
24 Hour Access
5 min walk to Hancock Park
Quintessential Harlem HDFC co-op with affordable, updated homes
As much of New York went through economic decline during the 1970s, certain neighborhoods were hit harder than others. In Central Harlem, urban flight — the mass exodus of city dwellers moving to the suburbs in search of better living conditions — resulted in many buildings being left abandoned or even burned down. To help stave off the trend and preserve what was left, the city government established the Housing Development Fund Corporation (HDFC). Middle-class residents were incentivized to stay in the neighborhood and collectively invest in these properties as their own. Despite the renewed real estate speculation that began in the 1990s and eventually led to an exponential increase in home prices, this type of income restricted co-op is still prevalent throughout Central Harlem, helping to maintain its status as a haven of relative affordability, especially when compared to other parts of Manhattan.
The Monte Cristo — otherwise known as 157 W. 123rd St.— is one such residence. The seven-story, elevator-equipped Romanesque Revival mid-rise takes pride of place on its northeastern corner perch with prewar proportions and elaborate architectural details inside and out. Though constructed in 1910, the building’s 51 units have all mostly been updated in the last decade or so. “It embodies all the charm and history of Harlem,” says Joshua Sloyer, the principal broker at Sloyer Real Estate Corp who has sold hundreds of units in HDFCs over the past 15 years. “The board is very progressive and diligent about constantly improving the building.”
Competitively priced studios to two bedrooms with varying degrees of renovation
While 250-square-foot studios average out at $250,000, an approximately 400-square-foot one-bedroom fetches around $325,000. Larger one-bedrooms and significantly more spacious two-bedrooms can fetch upwards of $425,000. Prewar attributes carry through from the somewhat generous proportioning and clever layout of these residences — bedrooms tend to be large enough to accommodate king-sized frames — to the hardwood flooring and crown molding. Many have been recently renovated with new finishes and appliances. Take freshly painted unit 3C, a railroad-style one bedroom — on the market in fall 2024 with Sloyer for $300,000 — with brand new kitchen cabinetry and smart, all-black fixtures. The residence is rear facing which makes it incredibly quiet. Also on the market with Sloyer in 2024, unit 5E is a more compact studio priced at just $200,000 with some updates needed.
According to Sloyer, monthly fees are especially low when compared to other buildings in the area. The charge for a one-bedroom is around $500 while a studio is about $400. As an HDFC, the annual income restrictions are $147,960 for one to two residents and $172,620 for three or more. While there’s no laundry room in the building, some units have been outfitted with combined, under-counter washer/dryers within their kitchens. “The co-op offers incredible affordability in a forward-moving market and in an area that continues to be in the path of progress,” Sloyer adds.
Thriving Harlem right outside the front door
While the building is imbued with wide hallways and stairwells, It doesn’t have much in terms of amenities, other than a voice intercom system. The main draw here is location and proximity to all that ever-changing, yet historically entrenched Harlem has to offer. While essential services and a large Whole Foods can be found on main commercial artery 125th Street, just two blocks north, there are also long-established institutions like the Apollo Theater and the Studio Museum that both celebrate the area’s deep connection to Black culture. A wide variety of distinct owner-operated haunts can be found in either direction along both Malcom X or Frederick Douglass boulevards. They include southern comfort food mainstay Sylvia’s, hip eatery Red Rooster and upscale pizzeria Sottocasa. Within the building, Accra is a top-rated Ghanaian food counter. Commutes downtown are easy with the 125th Street subway station at the corner of Malcom X Boulevard served by express 2 and 3 lines and the 125th Street subway station at Manhattan Avenue served by express A and D, as well as local C and B lines. Further east on the same stretch, the Harlem Train Station sees frequent Metro-North service to different parts of the northern suburbs. Right across the street from 157 W. 123rd St. is an M2 Bus stop.
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Quantarium
Current List Price
Sold Price
Area Factors
Moderate Crime
Crime Score®
5/ 10
Very Bikeable
Bike Score®
84/ 100
Walker's Paradise
Walk Score®
99/ 100
Rider's Paradise
Transit Score®
100/ 100
Sources: WhatIsMyCrimeRisk.com, Walk Score
Sources: WhatIsMyCrimeRisk.com, Walk Score
WhatIsMyCrimeRisk.com, Powered by CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks. Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Sound Score® measures the noise level of any address. Environmental risk data is provided by First Street Foundation® and is designed to approximate risk and not intended to include all possible scenarios.
Parks in this Area
Hancock Park
5 min walk
Picnic Area
St. Nicholas Playground South
5 min walk
Basketball
Playground
Waterpark
A. Philip Randolph Square
7 min walk
Langston Hughes Playground
7 min walk
Basketball
Picnic Area
Playground
Samuel Marx Triangle
7 min walk
Roosevelt Triangle
8 min walk
Rev. Linnette C. Williamson Memorial Park
8 min walk
Nature Center
Marcus Garvey Park
10 min walk
Baseball/Softball
Basketball
Dog Park
Collyer Brothers Park
11 min walk
Picnic Area
Schools
Source:
GreatSchools:
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