188 Lenox Avenue, New York, NY 10027
Local realty services provided by:Better Homes and Gardens Real Estate Choice Realty
188 Lenox Avenue,New York (manhattan), NY 10027
$1,150,000
- - Beds
- - Baths
- - sq. ft.
- Multi-family
- Active
Listed by: maliki cottrell
Office: cottrell & associates re corp.
MLS#:1032679
Source:OneKey MLS
Price summary
- Price:$1,150,000
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:1 day(s) ago
- Updated:July 30, 2026 at 09:46 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:$1,150,000
- Tax amount:$3,150 (2025)
New listings near 188 Lenox Avenue
- New
$1,200,000Active8 beds 5 baths3,444 sq. ft.3814 Barnes Avenue, Bronx, NY 10467
MLS# 1023477Listed by: KELLER WILLIAMS REALTY NYC GRP - New
$215,000Active-- beds 1 baths1 sq. ft.118-17 Union Turnpike #11J, Forest Hills, NY 11375
MLS# 1025007Listed by: BENJAMIN REALTY SINCE 1980 - New
$950,000Active3 beds 2 baths1,162 sq. ft.14809 Northern Boulevard #5M, Flushing, NY 11354
MLS# 1028427Listed by: RE/MAX TEAM - Open Sun, 1 to 2:30pmNew
$700,000Active3 beds 3 baths1,448 sq. ft.2053 Turnbull Avenue, Bronx, NY 10473
MLS# 1030964Listed by: EXP REALTY - Open Sat, 1 to 2:30pmNew
$1,150,000Active6 beds 2 baths2,494 sq. ft.90-34 190th Street, Hollis, NY 11423
MLS# 1031009Listed by: EXP REALTY - New
$149,000Active-- beds 1 baths500 sq. ft.78-40 164th St #2M, Fresh Meadows, NY 11366
MLS# 1032312Listed by: ELITE SYNERGY REALTY INC - New
$685,000Active3 beds 3 baths1,259 sq. ft.271 Leverett Avenue, Staten Island, NY 10308
MLS# 1032645Listed by: ISLAND ADVANTAGE REALTY LLC - New
$799,000Active6 beds 3 baths1,680 sq. ft.865 E 215th Street, Bronx, NY 10467
MLS# 1032757Listed by: RE/MAX DISTINGUISHED HMS.&PROP - Open Sun, 1:30 to 3pmNew
$429,999Active2 beds 1 baths676 sq. ft.16 Cyrus Avenue, Brooklyn, NY 11229
MLS# 1032868Listed by: NEWMAN REALTY INC - Open Sat, 12:30 to 3:30pmNew
$729,000Active3 beds 2 baths1,190 sq. ft.322 Wortman Avenue, Brooklyn, NY 11207
MLS# 1032870Listed by: NATHAN ETHAN REALTY LLC