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188 Lenox Avenue

New York (Manhattan), NY 10027
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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!

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Detail Ic Property Details

Property Type : Residential Income

Price : $1,600,000

AD Id : 88648239

MLS Id : 1032679

Tax Amount : $3,150

Year Built : 1887

County : New York (Manhattan)

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Feature Features

  • Room Information

    Basement: Full, Unfinished
  • Heating & Cooling

    Has Heating: Yes Heating: Steam Cooling: None

  • Building Information

    Year Built: 1887 Construction Materials: Brick Private Pool: No

  • Listing Price Information

    Listing Price: $1600000 Original Price: $1150000

  • Tax Information

    Annual Tax: $3150

  • Parking Information

    No Garage, None

  • School Information

    Elementary School: Contact Agent
    Junior High School: Call Listing Agent
    Senior High School: Contact Agent
  • Utility Information

    Natural Gas Available, Electricity Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Available, Water Connected
  • Location Information

    WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
111 W 132nd Street, New York (manhattan), NY, 10027 $1,545,000 -- -- -- --

The data relating to real estate for sale on this website comes in part from the Internet Data exchange of OneKey MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2026 OneKey MLS. All Rights Reserved

ByOwner last updated this listing 10/06/2026 @ 20:34

MLS: 1032679 LISTED BY: Maliki Cottrell, Cottrell & Associates RE Corp. 718-313-3004 SOURCE: OneKey MLS

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