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Property summary
This exceptional mixed-use property at 1873 Lexington Avenue in East Harlem, New York, NY 10035 presents a compelling value-add investment opportunity. The four-story brick building encompasses 3,612 square feet on a 21ft x 86ft lot and comprises four units: one street-level retail space, one second-floor commercial unit (currently vacant), and two residential units. The property is situated directly above the 116th Street (6) train station, benefiting from high foot traffic of approximately… 16,000 daily riders. This prime location offers significant potential for increased revenue and value appreciation. A key feature is the substantial 10,632 square feet of available air rights, providing significant development potential for expansion or future construction. The building is zoned R9, C2-5, and EHC, allowing for a variety of uses. The asking price for this unique investment property is $1,950,000. The 100% free-market commercial space on the second floor presents an immediate opportunity for lease income generation. This property is ideal for investors seeking a value-add project in a high-demand location with significant upside potential. The combination of existing income streams, vacant commercial space, and substantial air rights makes this a truly unique opportunity in the vibrant East Harlem market.
Ownership intelligence
Resolved identity, portfolio, hold profile and investor signals. Included in the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2024
Value estimate
· Sep 2026Realmo valuation models over county records and 5 qualifying comparable sales.
Recently sold
Cap rate analysis
Price anchors at 6 / 6.5 / 7% — in the full report.
Zoning insight
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 18 properties nearbyComparable nearby
Similar in This City for Sale
Similar in This City for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $99/month
- GBA
- 2,895 SF
- Lot area
- 0.04 ac
- Year built
- 1910
- Stories
- 4
- APN
- 01644-0120
- Zoning
- R9
- Assessed value · 2024
- $224,730
- Annual tax · 2024
- $22,783
- Estimated market rent / SF
- Potential gross income
- Vacancy allowance
- Effective gross income
- Benchmark operating expenses
- Stabilized NOI
- Property tax · 2024
- $22,783
- Selected cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the New York market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Registration is required before the official district profile is shown.
Official district profile
In M1 Districts without a letter suffix paired with an R9 or R10 District, the sign regulations applicable to the Queens Plaza Subdistrict set forth in Section 117-513 may be applied. 117-22 Special Floor Area Regulation…
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
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- Alternative use
- Local Zoning Insight
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