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Sale Lease Back – Historic Mixed Use Landmark Building

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216 Lenox Avenue, New York, NY 10027

Property Details

Property Description

Highly Desired Location: Mount Morris Park Historic District
Nestled between prominent masonry brownstones. Mixed use building is approximately 5,600SQFT
Great Opportunity - Sale with leaseback. Owner operates a funeral parlor business on the ground and parlor floors of the building. The leaseback provides $121,000 in annual income. 3 floors are vacant and require complete renovation.

Potential income from renovated apartments is an additional $126,000 annually (Assuming a duplex 3 bedroom apartment and a 2 bedroom floor through).

Building Specs:
Building class: Predominant Retail with Other Uses (K4)
Square feet: 5,600 SQFT
Building dimensions 20 FT x 80 FT (Gnd FL) 20FT x 50 FT (Floors 2-5)
Lot Dimensions: 20 FT X 80 FT
Stories: 4
Roof height: 51 FT
Year built: 1909
Structure type: Funeral home
FAR: 3.44
FAR as built: 2.61

The present owner will consider a 5 to 7 year lease term (Valued at $605,000 to $847,000).

Schedule an appointment today with Stanley Gleaton at 646 408-6034!


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