1694 Lexington Avenue, New York City, NY 10029
Listing Courtesy of Modern Spaces
$2,750,000
Potential Rebate: $41,250
Overview
DELIVER VACANT. FULLY APPROVED PLANS. OBTAIN NEW 4-FAMILY C of O.<br>START WORK TOMORROW. CASH FLOW IMMEDIATELY.<br><br>Modern Spaces is proud to exclusively present 1694 Lexington Avenue - a prime Four-Family investment in the heart of East Harlem, Manhattan - in the epicenter of Manhattan’s hottest growth corridor. With approved plans for a full interior renovation and a new 4-Family Certificate of Occupancy to be obtained, this property is delivered renovation-ready - ideal for immediate construction and swift income generation.<br><br>Prime Urban Infill Location:<br>Easy access to 6 train, MTA buses, FDR Drive, I-278 & I-95, & RFK Bridges.<br>Minutes to Central Park, Thomas Jefferson Park, and Randalls Island - green space on demand.<br>Top-tier dining, retail, cultural hubs, groceries, museums, parks, playgrounds - for daily convenience.<br>Columbia University, Hunter College, and elite schools – built-in tenant pipeline.<br>Close proximity to the Upper East Side and Upper West Side - luxury retail & dining are just blocks away.<br><br>Rare owner-occupant or full-rental play: live in one unit while leasing the others—or maximize cash flow with a full four-unit rental strategy.<br><br>This is a turnkey value-add opportunity in one of Manhattan’s fastest-appreciating corridors. Contact us today to secure plans and schedule a private tour, before the next bidder does!<br><br>SUMMARY<br>Block/Lot 1634/16<br>Zone R7D<br>Lot 1250.25 SF (16'8"x75')<br>Building 3757.57 SF Gross<br>Max FAR 4.66<br>Max Allowable 5826.17 SF<br>New floors<br>New HVAC<br>New electricals<br>New plumbing<br>New main water service line<br><br>All material presented herein is intended for information purposes only. All dimensions are approximate and subject to construction variances. Plans, layouts, and dimensions may contain minor variations from floor to floor. The buyer should verify all information with their own attorney, architect, or zoning expert. Equal Housing Opportunity.
Home Features
- •See Remarks
Estimated Monthly Payment
$15,567 per month
30 year fixed, 6.28% Interest
Estimated Rebate for this Home
One-time rebate at closing
$41,250
Monthly savings impact
$115/mo
💡 Estimated at 1.5% of purchase price
The rebate is paid to you at closing and can help offset closing costs or other expenses.
Calculator Disclaimer: This calculator provides estimates for informational purposes only. Actual monthly payments, interest rates, taxes, and rebate amounts may vary. The rebate calculation is an estimate and subject to final terms. This information is not provided by the Real Estate Board of New York (REBNY).
Why Buy With Us
Rebates Up To
2.5%
25+ Years
Experience
REBNY & NAR
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Listings
RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.
The Real Estate Rebate Team
Listing Courtesy of Modern Spaces
Data Source: TRESTLE #RLS20058027
Price Analysis
Compare average listing prices and value metrics for 1694 Lexington Avenue against the surrounding East Harlem market.
Average List Price
Price Per SqFt
13.02% Lower
than the East Harlem price-per-sq-ft average
Units in this building are listed below the neighborhood average, potentially offering better value per square foot compared to surrounding properties.
East Harlem
Overview of East Harlem
East Harlem, also known as Spanish Harlem or El Barrio, is a culturally vibrant neighborhood stretching from 96th Street to 125th Street on the East Side. It is a community rich in history, music, and art, offering some of the most affordable access to Manhattan living. For buyers looking at East Harlem Manhattan real estate, the area provides value and strong cultural roots.
Living in East Harlem, Manhattan is colorful and spirited. It is a neighborhood where murals adorn the walls and salsa music fills the air. As an evolving Manhattan NYC neighborhood, it is seeing new investment and development while fighting to maintain its distinctive Latino heritage and community soul.
Real Estate & Housing Market
The market for homes for sale in East Harlem is one of the last frontiers of affordability in Manhattan below 125th Street. Inventory ranges from HDFC income-restricted co-ops to newly constructed luxury condos that offer amenities like roof decks and gyms at a fraction of the cost of the Upper East Side.
Investors are active here due to the incoming Second Avenue Subway extension and the rezoning initiatives. It attracts first-time buyers who are priced out of Yorkville but still want quick access to the Midtown corridor.
Lifestyle & Community
The lifestyle in East Harlem is community-centric. Residents shop at the La Marqueta marketplace and gather at local panaderias. The dining scene is a highlight, featuring legendary spots like Rao's (if you can get a table) and authentic Puerto Rican and Mexican cuisine.
The vibe is energetic and unpretentious. The neighborhood has a strong activist history and a deep sense of pride. Cultural institutions like El Museo del Barrio keep the local traditions alive and vibrant.
Transportation & Accessibility
East Harlem is currently served by the 4, 5, 6 trains on Lexington Avenue, which can be crowded but efficient. The M15 Select Bus Service offers a rapid alternative down First/Second Avenues.
The biggest news is the future Phase 2 of the Second Avenue Subway, which will bring new stations to 106th and 116th Streets, dramatically improving connectivity and real estate potential. Easy access to the FDR Drive and the RFK Bridge makes it convenient for car owners.
Parks, Schools & Amenities
Thomas Jefferson Park is a major asset, featuring a large pool, track, and sports fields along the East River. Residents also have access to the northern reaches of Central Park, including the Conservatory Garden.
The neighborhood is amenity-growing, with a large Target and Costco at 117th Street (East River Plaza) providing suburban-style shopping convenience that is rare in the borough.
Who This Neighborhood Is Best For
East Harlem is best for first-time buyers, value-seekers, and cultural enthusiasts who appreciate a strong neighborhood identity. It is ideal for those who want to be part of a diverse, transforming community.
