222 Phipps
About This Property
This timeless home boasts three bedrooms, three bathrooms, one half bath, and attached one car garage. Inviting spaces flow throughout the residence with vaulted beamed ceilings in the kitchen, dining room, and master bedroom. A grand-fathered legal office space in the main house creates a secluded workspace.
A separate guest apartment features one bed one bath with full kitchen and separate washer and dryer in unit.
Enter the property through the beautiful front courtyard and a separate side pati entrance ensuring privacy for the guest or rental apartment.
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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 |
|---|---|---|---|
| Oct 13, 2023 | No longer available | - | |
| No longer available | |||
| Jun 5, 2023 | Listed by Palm Beach Brokerage | $12,900,000 | |
| Listed by Palm Beach Brokerage | |||
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This landmarked jewel is located in historic and enchanting Phipps Plaza's quiet cul-de-sac. Highly desirable, in-town location just one block from the beach and close to The Breaker's Hotel, Worth Avenue and the Lake Trail. The first floor has a recently renovated kitchen, dining area and a great room that all have doors opening to a spacious courtyard patio. The master bedroom is upstairs with a large, long balcony overlooking the property's lush, tropical landscaping of Phipps Plaza Park. The home has a guest apartment with a private entrance, living room, kitchen, bedroom and bathroom and washer/dryer. Charm and historic importance in this extraordinary 1940 Belford Shoumate property. The manager has listed the unit size as 3222 square feet.
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| Nov 2, 2022 | No longer available | - | |
| No longer available | |||
| Apr 26, 2022 | Listed by Sotheby's Intl. Realty, Inc. ( | $15,000,000 | |
| Listed by Sotheby's Intl. Realty, Inc. ( | |||
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This landmarked jewel is set in historic and enchanting Phipps Plaza's quiet cul-de-sac. Highly desirable, in-town location just one block from the beach and close to The Breaker's Hotel, Worth Avenue and the island's remarkable Lake Trail. The first floor has a recently renovated kitchen, dining area and a great room that all have doors opening to a spacious courtyard patio - perfect for al fresco dining. Owner's suite is upstairs with a large, long balcony overlooking the property's lush, tropical landscaping with the Phipps Plaza Park. The home has a guest suite with a private entrance complete with living room, kitchen, bedroom and bathroom - washer/dryer. Charm and historic importance abound in this extraordinary 1940 Belford Shoumate gem. The manager has listed the unit size as 3222 square feet.
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| Apr 30, 2018 | Sold | ||
| Sold | |||
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About Phipps Plaza
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William Raveis Palm Beach LLC
Last Updated: 3 months ago
Data Source: Beaches MLS, MLS# R10425616
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Address: 335 Madison Avenue, New York, NY 10017