Magnolia Mansion

Magnolia Mansion is a condo located 309 East 108th Street, in East Harlem, New York. The building was first built in 1926 and is 98 years old. It was first renovated and altered in 1987. The lot that the building was built on is 150 feet wide and 101 feet long. The official lot area is listed as 15,138 square feet. The building itself is 137 feet wide and 72 feet long. In total, 309 East 108th Street has a total floor area of 63,249 square feet. Of that, 46,751 square feet are used for residential purposes. About 16,498 square feet of the building are used for commercial purposes. There are a total of 40 units. Of those, 33 are residential units. There are 7 commercial units. 309 East 108th Street has a total of 6 floors. Thankfully, the building is equipped with elevator service.

Interested in learning more about the building? Great news, subletting is currently allowed, which makes this a great opportunity for folks who just want a secondary home or make some passive rental income. There are many great amenities and features for residents in the building. Better yet, washer and dryers are allowed in each unit. Alternatively, take a stroll around the building's garden. There are 103 closings on record, of which we have matching data for 9 listings. In the past 3 years, a listing in this building will typically remain on the market for about 125 days and tend to sell below the original asking price of $1,060,000 by 8.20%. Meaning, listings tend to sell at a median of $734 price per square foot. The transaction that took the longest to complete was unit 5A, listed on Jun 18, 2018 for $1,250,000. This particular unit ultimately sold 345 days later for $950,000. The most recent transaction was for unit 6, sold for $0 on Sep 12, 2023. Fun fact, the oldest transaction we have on record took place on Sep 17, 1987. See the full transaction history for Magnolia Mansion below.

East Harlem, where 309 East 108th Street is located, has a median asking price of $1,650,000 for condo buildings. Meanwhile, the building itself has a median asking price of $1,060,000. For interested buyers, that means the building's median asking price is around 0.36% below the neighborhood's median asking price for condos. Which is great news as a buyer may end up finding some relatively affordable units in this building compared to other condo buildings in the neighborhood.

There are currently 3 active listings for sale within the building and our inventory of available units for sale is constantly updating in real time. Check back frequently for updates. Currently, the most expensive asking price for all of the active units in the building is $1,215,000. It is a 1,600 sqft 4 bedroom and 2 bathroom unit. Conversely, the least expensive asking price for all of the active units in the building is $750,000. It is a 1,257 sqft 1 bedroom and 2 bathroom unit. A breakdown of active listings shows no studio, 1 one-bedroom, no two-bedroom, no three-bedroom, and 2 four-bedroom plus units for sale! The median price of all the active units for sale in the building is $1,100,000. Collectively, the median square footage of these active units for sale is 1,600 sqft. Active units for sale at 309 East 108th Street are mostly 4-bedroom apartments Active units for sale at 309 East 108th Street have a median count of 4 bedrooms and have a median count of 2 bathrooms.