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188 Lenox Avenue, New York (Manhattan) NY 10027
188 Lenox Avenue, New York (Manhattan) NY 10027
New York>Manhattan>Central Harlem

188 Lenox AvenueNew York (Manhattan), NY 10027

For Sale

$1,600,000

Smart Buyer Rebate $20,000

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!

Listed by Maliki Cottrell

·

Cottrell & Associates RE Corp.

·

718-313-3004

Last updated September 14, 2026

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Source: OneKey #1032679

Listing Facts

  • TypeMulti-family
  • NeighborhoodCentral Harlem
  • Days on Prevu47
  • Taxes$3,150/year

Location

Mortgage Calculator

Listing History

09/15/2026
Price Increased
$1,600,000
07/30/2026
Listed by Cottrell & Associates RE Corp.
$1,150,000
  1. 09/15/2026$1,600,000
    Price Increased
  2. 07/30/2026$1,150,000
    Listed by Cottrell & Associates RE Corp.

Estimated Closing Costs

Attorney Fees
$4,000
NYC Mansion Tax
$16,000
Title Insurance
$7,200
Bank Attorney
$1,500
Mortgage Recording Tax
$24,640
Other Closing Costs
$4,000
Total
$57,340

Estimated closing costs are based on the list price of $1,600,000 and a 20% downpayment. These estimates are for indicative purposes only. Actual closing costs may vary for each transaction. See the Closing Costs Calculator for calculations specific to your situation.

Property Details for 188 Lenox Avenue

Exterior

Construction

  • Number Of Units Total: 4
  • Property Attached: Yes
  • Year Built: 1887
  • Construction Materials: Brick

Measurements

  • Building Area Units: Square Feet

Financial

Taxes

  • Tax Annual Amount: $3,150.00
  • Tax Year: 2025

Interior

Features

  • Interior Features: Original Details

Rooms

  • Basement: Full, Unfinished
  • Has Basement: Yes

Schools

Elementary School

  • Elementary School: Contact Agent
  • Elementary School District: Contact Agent

High School

  • High School: Contact Agent
  • High School District: Contact Agent

Middle or Junior School

  • Middle Or Junior School: Call Listing Agent
  • Middle Or Junior School District: Contact Agent

Utilities

Equipment

  • Heating: Steam
  • Sewer: Public Sewer
  • Utilities: Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Connected, Trash Collection Public, Water Available, Water Connected
  • Water Source: Public

Frequently Asked Questions

How many bedrooms does this multi-family home have?

There is bedrooms in this multi-family home at 188 Lenox Avenue.

What schools are nearby to 188 Lenox Avenue?

Nearby schools include the Contact Agent Elementary School, Call Listing Agent Middle School, and Contact Agent High School.

What are the annual taxes for 188 Lenox Avenue?

Annual taxes for this multi-family home are estimated at $3,150.

How does 188 Lenox Avenue compare to other multi-family homes in Central Harlem?

This multi-family home is listed 39% below the average price for multi-family homes in Central Harlem and has been on the market for 74 less days than the typical home in this area.

188 Lenox Avenue is a -bedroom multi-family home for sale in New York (Manhattan) NY 10027. On Prevu for 47 days at $1,600,000. This includes a recent price increase of $450,000. This residence is located in Central Harlem. The median listing price for multi-family homes in this area is $875,000. Nearby schools include Contact Agent Elementary School, Call Listing Agent Middle School, and Contact Agent High School. Explore more multi-family home listings in Manhattan.

The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey™ MLS. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. Information Copyright 2026, OneKey™ MLS. All Rights Reserved.

Full MLS Disclaimers

Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.