273 Lenox Avenue, New York (Mt. Morris Park), NY, 10027 | $2,800,000

Imagine owning a Manhattan townhouse where you can wake up in a beautifully renovated duplex overlooking Lenox Avenue while your investment works for you downstairs. 273 Lenox Avenue offers an ownership opportunity that is remarkably difficult to find in Manhattan: a luxury owner's residence combined with two separate commercial spaces that can generate substantial income or serve as the perfect home for your own business. The upper two floors are configured as a spacious two-bedroom, two-bathroom duplex filled with natural light and soaring ceilings. Large windows frame vibrant Lenox Avenue views while offering the privacy and comfort of a true home. Whether you're entertaining, working remotely, or simply enjoying life in one of Harlem's most dynamic neighborhoods, this residence feels worlds apart from a typical Manhattan apartment. Below, two independent commercial units create exceptional flexibility. The street-level storefront enjoys direct retail access and outstanding visibility along Lenox Avenue, making it ideal for retail, gallery, showroom, medical, wellness, or professional office use. Above it, a completely separate second-floor office suite provides another income-producing space or the perfect headquarters for your own business. This is the rare property that adapts to your life. Live upstairs and lease both commercial spaces. Occupy one office while collecting rent from the other. Build your business below while eliminating your commute. Or lease all three units for a projected 7. 14% capitalization rate, creating an investment that is nearly impossible to replicate at this price point. Extensively gut renovated in the 2010s, the building was thoughtfully modernized with separate HVAC systems serving each unit independently. A full-height, dry cellar with sidewalk hatch access provides exceptional storage rarely found in Manhattan buildings. Mixed-use properties of this caliber are exceedingly scarce. Finding one below $5 million is uncommon. Finding one under $3 million—offering a renovated owner's duplex, multiple commercial income streams, modern building systems, and extraordinary flexibility—is virtually unheard of. Whether you're an entrepreneur, physician, attorney, architect, creative professional, investor, or simply someone who wants to own the building they live in, 273 Lenox Avenue represents one of Harlem's most compelling owner-user opportunities.

Features

  • Town: New York
  • Levels: 4
  • Cooling: Central
  • Zoning: C4-4
  • Laundry: SeeRemarks
  • Year Built: 1909
  • Terrace : Yes
  • Service Level: None
  • Built Size: 17'x75'
  • OLR#: RLS20070860
  • Days on Market: 174 days
  • Website: https://www.raveis.com
    /prop/RLS20070860/273lenoxavenue_newyork_ny?source=qrflyer
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.
Listing courtesy of Compass

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NMLS Mortgage Loan Originator ID 1880936

347.223.0992

Sarah.DeFlorio@Raveis.com

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273 Lenox Avenue, New York (Mt. Morris Park), NY, 10027

$2,800,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Sarah DeFlorio

VP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 347.223.0992

Sarah.DeFlorio@Raveis.com

NMLS Mortgage Loan Originator ID 1880936

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $2,240,000 $2,240,000 $2,240,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.250% 6.000% 5.750%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.069% 6.110% 5.932%
Monthly Tax Payment N/A N/A N/A
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $12,369 $13,430 $18,601
Total Monthly Payment $12,494 $13,555 $18,726

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.