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199 Emerald Bay
About This Property
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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%.
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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.
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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 19, 2026 | Price Decreased |
$36,500,000
↓ $9M
(18.9%) | |
| Price Decreased | |||
| Jan 26, 2026 | Listed by The Agency | $44,995,000 | |
| Listed by The Agency | |||
| Jan 30, 2025 | Listed | $44,995,000 | |
| Listed | |||
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Perched atop a cliff in the prestigious enclave of Emerald Bay, this extraordinary estate, among merely three with direct private access to the waters below at Irvine Cove, offers boundless vistas of the ocean, Catalina Island, Palos Verdes and roaring whitewater just beneath you. Designed with intention to capitalize on both, the ever-changing views & privacy from neighbors, this residence occupies one of the most expansive lots within Emerald Bay as well as the Coast with nearly 100’ of frontage. Multiple terraces, mature landscaping, and a cove-facing hot tub were meticulously envisioned to maximize the natural slopes and endless views of crashing waves. A spectacular towering cypress greets you as you enter the estate while sea lions, dolphins, ospreys, yachts, and more entertain. A soft contemporary design intersects with functionality, resulting in inviting interiors that lend themselves to everyday living and entertaining. The different wings add privacy for family and guests. Soaring ceilings create voluminous spaces throughout the residence. Walls of glass opening to the terraces bring the Pacific Ocean and beyond indoors and it feels as if you’re sitting on top of the water. The muted palette of natural materials such as wood and limestone, curated to not compete with the coastal beauty, creates a soothing environment. Grand in scale, the main areas of the property as well as all bedrooms face outwards towards the multiple water-facing terraces. The owners’ suite spans nearly an entire level of the home, creating a private retreat with a spectacular view balcony. The rarity of this vastness while designed to optimize privacy from neighbors of this oceanfront estate cannot be overstated.
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| Mar 9, 2019 | Sold | ||
| Sold | |||
| Jun 4, 2018 | Listed by Compass | $17,950,000 | |
| Listed by Compass | |||
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This spectacular Emerald Bay oceanfront residence features panoramic views of the ocean, sunsets, and crashing whitewater below from its dramatic cliff top setting. Occupying one of the largest parcels in Emerald Bay with nearly 100’ of ocean frontage, the residence is positioned to capture dazzling views from every major room. The unique topography of the lot gently descends toward the water’s edge, with spacious terraces and gardens as well as a private spa overlooking the cove. Through a private gate, the waters of the cove below are easily accessed. The home is a warm blend of contemporary design with dramatic volume (near to 20’ in some locations) and walls of glass opening to the vistas. Honed limestone, bleached woods, and crisp white walls combine to make perfect rooms with expanses of glass framing the azure waters. Approximately 7,100 square feet of living area is designed for comfortable living, to maximize views, and proves an inviting plan for entertaining as well. The main public areas are all generously proportioned and open to spacious terraces set spectacularly above the water. The wonderfully private master suite encompasses almost an entire floor and opens to an intimate sunset terrace. The secondary bedroom suites are light, comfortable, private, and enjoy sea views. The view frontage, combined with the setting and extraordinary size of the residence, make for a compelling opportunity. This is simply not to be missed.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017