An interesting brownstone located within the Mount Morris Park Historic District at 195 Lenox Avenue and 120th just arrived on the market in the past week. The 18 foot wide, 5-story building is on the main landmark strip of Lenox and has an exact twin next door to it (brownstones at far right of photo). There are four (rented out) units altogether plus the retail space on the ground floor which all have apparently been updated in the past few years. Altogether, this brownstone has 6,600 square foot so there's a lot of space for the asking price of $1.575 million. Interior photos are missing for this one so we are assuming that the renovations are of the minimalist aesthetic.
I’m always grateful these gorgeous buildings have, for the large part, managed to hold onto their front stoops.
ReplyDeleteLooks amazing. Wonder too what it is like on the inside. Also this building, along with the other one that went for over 2 million, seem to be priced really aggressively for a quick sell. Still more money than I'll probably ever have, but seems to be priced relatively low per sq. ft. (esp. considering it is in a such a nice location).
ReplyDeleteThat seems like a fabulous price - some $285/sq ft. I would imagine it is because it would be a commercial property, with price determined as a function of rent roll? If we figure $2K/month for each residential unit plus another $2K/month for each retail floor, that's $144K/year, which would put the price at 11 times rent roll.
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