159 W Water Street
About This Property
With four bedrooms and four full baths spread over three levels, the home is designed to host with ease, accommodating up to twelve guests. The first floor flows seamlessly through living, dining, and kitchen areas, anchored by a guest suite. Upstairs, two additional bedrooms open onto balconies for morning breezes and afternoon sun. The third floor features a charming, oversized bunk room, perfect for children or guests A newly added pool and several outdoor seating areas transform the courtyard into a restful haven, perfect for long afternoons and al fresco evenings. Renovated by Regal Stephens and featured in The Rosemary Thymes, the home reflects a refined attention to detail throughout. Owners enjoy access to five community pools and a private beach, making this a rare opportunity for a lucrative rental or a private coastal sanctuary.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 27, 2025 | Sold | ||
| Sold | |||
| May 8, 2025 | In contract | - | |
| In contract | |||
| May 2, 2025 | Listed by Scenic Sotheby's International Realty | $3,750,000 | |
| Listed by Scenic Sotheby's International Realty | |||
| May 1, 2016 | Sold | ||
| Sold | |||
| Sep 30, 2015 | Listed by Scenic Sotheby's International Realty | $1,800,000 | |
| Listed by Scenic Sotheby's International Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017