1873 Lexington Ave New York, NY 10035

Property Details for 1873 Lexington Ave

Year built

1910

Lot size

0.04 lot acres

Property size

2,895 SF

Zone code

R9

Property type

Retail residential properties

APN

01644-0120

APU

16440120

Description

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.

Location Insight

City

New York

County

New York

State

New York

Longitude

-73.9411

Latitude

40.7989

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments