188 Lenox Avenue, New York, NY 10027
Local realty services provided by:Better Homes and Gardens Real Estate Realty Connect
188 Lenox Avenue,New York (manhattan), NY 10027
$1,600,000
- - Beds
- - Baths
- - sq. ft.
- Multi-family
- Active
Listed by: maliki cottrell
Office: cottrell & associates re corp.
MLS#:1032679
Source:OneKey MLS
Price summary
- Price:$1,600,000
About this home
Looking to build your portfolio? Add this trophy property to your collection!
188 Lenox is a rare architectural canvas located on historic Lenox Avenue. Built in 1887, this turn-of-the-century, mixed-use townhouse is situated along one of Upper Manhattan’s most iconic corridors and is available for sale.
188 Lenox Avenue is a 4-unit, mixed-use building located between 119th and 120th Streets. This property features ground-floor commercial space—currently being used as a hardware store—and three vacant residential units above. The property can be restored to its original beauty to generate passive rental income, or it can be renovated and converted into condos. For comparison, condos at 192 Lenox (just two buildings down) have sold in the $700K to $1M range. The building can be delivered with a Certificate of Non-Harassment and DOB-approved plans to convert into a legal 4-family building plus commercial space.
Approved Plans Include:
* 2nd Floor: Two (2) studio apartments, projected to rent for a minimum of $2,646/month each.
* 3rd & 4th Floors: Two (2) floor-through 2-bedroom apartments, projected to rent for a minimum of $3,058/month each.
* 1st Floor: Commercial space with excellent retail frontage near the Mount Morris Park Historic District. Can be rented for approximately $90/sq. ft., bringing in roughly $10,500/month.
Unleash immediate upside in Harlem’s historic and commercial heart!
Grand Totals
* Total Monthly Income (4 Residential + 1 Commercial):$11,408 + $10,500= $21,908 / Month
* Total Annual Gross Income:$21,908 x 12 = $262,896 / Year
At a fair aqcuisition price, with conservative expense estimates, this property can bring in a double-digit cap rate (11.5% to 13.1%) which is an extraordinary return.
Schedule your showing today!...
Contact an agent
Home facts
- Year built:1887
- Listing ID #:1032679
- Added:51 day(s) ago
- Updated:September 20, 2026 at 11:18 AM
Rooms and interior
- Basement:Yes
- Basement Description:Full, Unfinished
Heating and cooling
- Heating:Steam
Structure and exterior
- Year built:1887
- Construction Materials:Brick
Schools
- High school:Contact Agent
- Middle school:Call Listing Agent
- Elementary school:Contact Agent
Utilities
- Water:Public, Water Available
- Sewer:Public Sewer
Finances and disclosures
- Price:$1,600,000
- Tax amount:$3,150 (2025)
New listings near 188 Lenox Avenue
- Coming Soon
$1,150,000Coming Soon3 beds 2 baths1,208 sq. ft.138-33 62nd Road, Flushing, NY 11367
MLS# 1053024Listed by: KELLER WILLIAMS REALTY ELITE - Coming SoonOpen Fri, 6 to 7pm
$599,000Coming Soon3 beds 2 baths1,290 sq. ft.548 Bolton Avenue, Bronx, NY 10473
MLS# 1052751Listed by: KELLER WILLIAMS REALTY NYC GRP - Coming Soon
$1,695,000Coming Soon7 beds 5 baths3,750 sq. ft.64-11 232nd Street, Oakland Gardens, NY 11364
MLS# 1052816Listed by: E REALTY INTERNATIONAL CORP - Coming Soon
$1,249,999Coming Soon-- beds -- baths2,496 sq. ft.183 Patchen Avenue, Brooklyn, NY 11233
MLS# 1052851Listed by: PEOPLES REALTY & ASSOCIATES - Coming Soon
$675,000Coming Soon3 beds 2 baths1,200 sq. ft.114-45 200th Street, Saint Albans, NY 11412
MLS# 1052772Listed by: CITY HOMES REALTY GROUP LLC - Coming Soon
$799,000Coming Soon3 beds 3 baths1,008 sq. ft.918 Throgs Neck Expwy, Bronx, NY 10465
MLS# 1052686Listed by: WW REALTY GROUP INC - Coming Soon
$910,000Coming Soon4 beds 3 baths1,130 sq. ft.147-46 231st Street, Rosedale, NY 11413
MLS# 1052690Listed by: WW REALTY GROUP INC - Coming Soon
$899,000Coming Soon5 beds 3 baths2,234 sq. ft.263 Quincy Avenue, Bronx, NY 10465
MLS# 1052692Listed by: WW REALTY GROUP INC - Coming Soon
$699,000Coming Soon3 beds 3 baths1,536 sq. ft.4135 Murdock Avenue, Bronx, NY 10466
MLS# 1052694Listed by: WW REALTY GROUP INC - Coming Soon
$999,000Coming Soon10 beds 5 baths3,000 sq. ft.1823 Anthony Avenue, Bronx, NY 10457
MLS# 1052696Listed by: WW REALTY GROUP INC