After being sold for $1.15 million back in December 2010, Number 246 Lenox Avenue arrived on the market in late 2011 for an increased asking of $2.99 million but now the price has finally been reduced. There have not been any exterior work done on the 22-foot-wide building but the interior apparently had plans of converting into a 2-family home at one point. This location at West 122nd Street is within the Mount Morris Park Historic District and right by the express trains at 125th Street so a prospective buyer might just come along at the new asking of $2.2 million.
I saw this house and was appalled by the condition relative to the statements of the broker. The house is a halted SRO conversion. Basically, the demo was done and some of the systems have been started. This house is in very poor condition, so I'm not sure how any reasonable person could think the value has increased by 100% in the past year.
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