188 Lenox Avenue, New York, NY 10027
Local realty services provided by:Better Homes and Gardens Real Estate Green Team
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:97 day(s) ago
- Updated:November 05, 2026 at 12:00 PM
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)
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