273 Lenox Avenue
New York, NY 10027
Cross street:West 123rd Street

Building

Type:Low-rise
Era:Post-war
Floors:4

Property

Ownership: Mixed Use
Rooms: 12
Bedrooms: Studio

Financials

Price:$2,950,000
Real estate tax:$20,724
505 Park Ave, New York, NY 10022
Listing Courtesy of Compass

All open houses are by appointment only.

Description

All open houses are by appointment only. 273 Lenox Avenue is a mixed-use building located just off West 125th Street in the heart of Harlem, steps from the 2/3 express trains, Trader Joe’s, Whole Foods, and numerous neighborhood retailers and restaurants. Positioned within a C4-4 zoning district, the property contains approximately 3,778 square feet above grade plus a dry, high-ceiling cellar of approximately 1,082 square feet. The 17' x 75' lot is built nearly full on the ground level, maximizing commercial utility, and includes approximately 500 square feet of additional air rights. The upper two floors are configured as a renovated two-bedroom, two-bathroom duplex with high ceilings and strong natural light. The unit is currently leased at $4,800 per month through December 23, 2026. Market rent for comparable renovated duplex units in this immediate corridor is approximately $6,500 per month, indicating clear residential upside upon lease expiration. The ground-floor commercial space measures approximately 1,224 square feet and is supported by approximately 1,085 square feet of clean, high-ceiling cellar space directly below. The space has been delivered vacant and is suitable for retail, office, or owner-user occupancy. Market rent for the ground floor and cellar combined is estimated at approximately $10,000 per month. The parlor level is configured as a separate commercial office unit with two private offices and a private rear terrace, and is projected to achieve approximately $4,000 per month at market. At full stabilization using market rents of $10,000 for the ground floor and cellar, $6,500 for the residential duplex, and $4,000 for the parlor-level office, the property offers a projected gross monthly income of approximately $20,500, or $246,000 annually. 273 Lenox Avenue presents a flexible opportunity for an investor or owner-user seeking scale, multiple income streams, and prime positioning within one of Harlem’s most active commercial corridors.

Amenities

  • Terrace
  • Air Conditioning
  • Basement

Neighborhood

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RLS Data display by Nest Seekers LLC.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.