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2 Penny Lane
About This Property
The traditional 5-bedroom, 3-full-bath Center Hall Colonial features spacious formal rooms, wood floors and an impressive formal entry hall with soaring ceilings and a custom bridal staircase. The eat-in kitchen features white cabinetry, granite countertops, a center island with seating and a large dinette area, and opens directly to the beautiful great room with soaring ceilings, a wood-burning fireplace and large windows that bring the beauty of the surrounding landscape indoors. Glass sliders open to a large entertainment deck, extending the living space outdoors. A first-floor bedroom, equally well suited as a home office, and conveniently located laundry add flexibility to the main level.
The second-floor primary suite offers a private retreat with beautiful views of the Long Island Sound, an electric fireplace and two walk-in closets. The spacious ensuite bath features double sinks and a Jacuzzi tub positioned beneath a wall of windows, creating a peaceful place to relax while taking in the water views. Three additional generously sized bedrooms, a spacious main full bath with double sinks, and a private outdoor deck complete the second floor.
A full basement offers substantial additional space and storage with the potential to be finished in the future, while the 3-car garage with a car lift provides added versatility.
Professionally landscaped grounds are enhanced by landscape lighting, a hot tub, generous driveway parking and multiple outdoor spaces for dining, gathering and relaxing by the water. With the Long Island Sound just beyond the backyard, private beach access and gorgeous sunsets unfolding across the horizon, the setting offers the feeling of being on vacation year-round, all from the privacy of your own home.
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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.
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Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 6, 2026 | In contract | - | |
| In contract | |||
| Aug 12, 2026 | Listed by Daniel Gale Sothebys Intl Rlty | $1,999,000 | |
| Listed by Daniel Gale Sothebys Intl Rlty | |||
| Apr 7, 2020 | No longer available | - | |
| No longer available | |||
| May 31, 2019 | Listed by Douglas Elliman Real Estate | $1,795,000 | |
| Listed by Douglas Elliman Real Estate | |||
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Custom Built Colonial on Magnificent Beach Front Property on Long Island Sound. Spacious and Bright with Water Views from Every Room. Foyer with Bridal Staircase, Hard Wood Floors, Granite Counters, Custom Molding, Vaulted Ceilings, Master Bedroom with en Suite Bath and Walk in Closets. Three Additional Bedrooms and Guest Room / Home Office. Secluded One Acre Property with 75 Feet of Private Beachfront. The Beach is Calling You. Its Time to Own the Sunset. Welcome Home. The manager has listed the unit size as 4500 square feet.
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| Jul 10, 2007 | Sold | ||
| Sold | |||
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About Nissequogue
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017