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206 MADISON CIRCLE
About This Property
The stunning and timeless architecturally designed residence sets the tone for what you will experience within. Stepping inside, your eyes are immediately drawn through the home to a spectacular wall of windows showcasing the shimmering lake beyond, creating a breathtaking first impression that defines the entire living experience. Throughout the home, expansive windows are thoughtfully positioned to capture the water from nearly every room, ensuring the lake is always part of your daily backdrop. Inside, rich Brazilian cherry hardwood floors, designer lighting, and an open-concept layout create a warm yet sophisticated atmosphere. A grand foyer with marble flooring welcomes you, while a private elevator provides effortless access to all levels, blending everyday convenience with long-term accessibility.
The heart of the home is the expansive gourmet kitchen, thoughtfully designed for both entertaining and daily living. Outfitted with top-tier appliances like Wolf and SubZero, custom cabinetry, and a large center island, it flows seamlessly into the dining and living areas. Here, a striking floor-to-ceiling stone fireplace and a wall of windows frame breathtaking, unobstructed views of the lake, filling the space with natural light and creating a truly unforgettable backdrop.
The upper level features a luxurious primary suite designed as a private retreat, complete with its own fireplace, sitting area, wet bar, private balcony with sun deck, and spa-inspired bath with an oversized multi-head shower. Additional bedrooms are generously sized, many with en suite or Jack-and-Jill baths, offering comfort and privacy for family and guests alike.
The fully finished lower level is built for entertaining, featuring a spacious family room, custom bar, restaurant quality wine cellar, game room, exercise room, and an additional bedroom suite ideal for guests or extended stays. Walk-out access leads directly to the outdoor living spaces, enhancing the home's exceptional indoor-outdoor flow.
Step outside and discover what truly sets this property apart. The backyard is nothing short of spectacular, designed to maximize its prime waterfront setting. Multiple levels of outdoor living spaces include a screened porch, expansive balconies, covered patio, outdoor kitchen, and fire pit. A very gently sloping lawn leads to your private dock, complete with a pontoon boat lift and jet ski lift, offering effortless access to the wide, open lake. Whether it's boating, kayaking, fishing, or simply enjoying sunset views, this is a lifestyle few homes at Lake of the Woods can offer.
Set within a gated, amenity-rich community featuring lakes, golf, pools, trails, parks, and more, this home delivers the perfect balance of luxury, recreation, and everyday comfort. 206 Madison Circle is more than a home-it is a destination, where every day feels like a dreamy getaway.
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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%.
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 |
|---|---|---|---|
| Jul 2, 2026 | Sold | ||
| Sold | |||
| May 14, 2026 | In contract | - | |
| In contract | |||
| Apr 29, 2026 | Listed by Century 21 Redwood Realty | $2,300,000 | |
| Listed by Century 21 Redwood Realty | |||
| Nov 18, 2013 | Sold | ||
| Sold | |||
| Mar 2, 2013 | Listed by Century 21 Redwood Realty | $625,000 | |
| Listed by Century 21 Redwood Realty | |||
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About Lake of the Woods
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017