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242 S 1st Street #4E
About This Property
For unique historic character, an incredibly spacious layout and two sunny south-facing outdoor spaces, look no further than this impressive two-bedroom, two-and-a-half-bathroom loft triplex located within a stylish condominium conversion in a prime Williamsburg location.
Spanning more than 1,447 square feet across three levels, this beautiful home offers a flexible floor plan filled with soaring 10-foot-tall beamed ceilings, rich maple hardwood floors and oversized windows facing south and east. The first floor greets you with a gracious entry flanked by a coat closet and a well-appointed guest bathroom featuring a large tub/shower and gorgeous floor-to-ceiling tile. Ahead, enjoy a generous footprint for living and dining areas flanked by a south-facing Juliet balcony and a stunning gourmet kitchen, where sleek white cabinetry boasts thick natural stone countertops. The upscale stainless steel appliances include a gas cooktop, oven, built-in microwave and dishwasher, plus a stacked washer-dryer concealed behind a hidden door.
A spacious bedroom with a roomy closet completes the level. Ascend the open steel staircase to find an expansive indoor-outdoor living area that opens to a nearly 200-square-foot south-facing terrace. Imagine hosting summer barbecues and gameday gatherings on this wonderful outdoor retreat wrapped in gorgeous blue-sky views. A second full bathroom on this level offers a walk-in shower. Above, the home's top floor is dedicated to a private primary suite featuring a king-size bedroom, an oversized half-bathroom and a large dressing area bordered by two large closets. Additional closet space and a mini-split HVAC system add comfort and convenience to this special South Williamsburg sanctuary.
LOFTS1 is a modern, pet-friendly condominium housed within a historic warehouse building featuring an industrial-chic facade, exposed brick and concrete lobby and video intercom entry.
From this vibrant, easily accessible South Williamsburg location, you're just five blocks from the East River waterfront and fantastic Domino Park. Enjoy proximity to Whole Foods, Apple Williamsburg, Nitehawk Cinema, Williamsburg Cinema and remarkable international cuisine, including popular L'Industrie Pizza on the next block. Nearby J/Z, M, L and G trains, excellent bus service, CitiBike stations, the BQE and both the North and South Williamsburg Ferry Terminals put the rest of the city within easy reach.
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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 |
---|---|---|---|
Feb 6, 2025 | Price Decreased |
$1,495,000
↓ $80K
(5.1%) | |
Price Decreased | |||
Sep 25, 2024 | Listed by Compass | $1,575,000 | |
Listed by Compass | |||
Feb 5, 2021 | Sold | ||
Sold | |||
Sep 17, 2021 | Sold to Nikolas Wylie | ||
Sold to Nikolas Wylie | |||
Jan 15, 2015 | Sold to Gregory James | ||
Sold to Gregory James |
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
01/19/2022
|
Studio
|
1 Bath
|
587 ft²
|
$650,000
Studio
1 Bath
587 ft²
|
$650,000
06/17/2022
|
Evan F. Church
Corcoran Group
| ||
01/09/2022
|
1 Bed
|
1 Bath
|
664 ft²
|
$750,000
1 Bed
1 Bath
664 ft²
|
$788,000
+5.07%
03/16/2022
|
- Private -
|
Gabriela Svec
Corcoran Group
| |
05/16/2021
|
2 Bed
|
3 Bath
|
1447 ft²
|
$1,585,000
2 Bed
3 Bath
1447 ft²
|
$1,495,000
-5.68%
09/17/2021
|
-
|
Christopher Cavorti
Corcoran
| |
10/21/2020
|
Studio
|
1 Bath
|
591 ft²
|
$599,000
Studio
1 Bath
591 ft²
|
$610,000
+1.84%
05/27/2021
|
Evan F. Church
Corcoran Group
| ||
03/11/2019
|
Studio
|
1 Bath
|
579 ft²
|
$635,000
Studio
1 Bath
579 ft²
|
$599,000
-5.67%
07/24/2019
|
Marvin Chu
Corcoran Group
| ||
05/30/2018
| |
Studio
|
1 Bath
|
-
|
-
Studio
1 Bath
|
-
-
|
-
|
-
|
04/12/2017
|
2 Bed
|
2 Bath
|
1200 ft²
|
$1,200,000
2 Bed
2 Bath
1200 ft²
|
$1,200,000
08/07/2017
|
-
|
Jonah Katz
Compass
| |
09/05/2016
|
Studio
|
1 Bath
|
564 ft²
|
$570,000
Studio
1 Bath
564 ft²
|
$570,000
02/24/2017
|
-
|
Stefanie L Barlow
Corcoran Group
| |
06/29/2016
|
2 Bed
|
2 Bath
|
1200 ft²
|
$1,200,000
2 Bed
2 Bath
1200 ft²
|
$1,200,000
02/05/2021
|
-
|
Caroline U J Grane
Nest Seekers LLC
| |
11/17/2015
|
Studio
|
1 Bath
|
616 ft²
|
$650,000
Studio
1 Bath
616 ft²
|
$650,000
03/07/2016
|
Jeffrey Nolan
Corcoran Group
| ||
04/29/2014
|
Studio
|
2 Bath
|
1285 ft²
|
$749,000
Studio
2 Bath
1285 ft²
|
$700,000
-6.54%
07/11/2014
|
Paul Rosen
The Corcoran Group
| ||
03/31/2014
|
1 Bed
|
1 Bath
|
1212 ft²
|
$1,100,000
1 Bed
1 Bath
1212 ft²
|
$1,025,000
-6.82%
08/22/2014
|
-
|
Marjorie Dybec
Prudential Douglas Elliman Real Estate
| |
03/28/2014
|
2 Bed
|
2.5 Bath
|
1447 ft²
|
$995,000
2 Bed
2.5 Bath
1447 ft²
|
$1,050,000
+5.53%
02/05/2021
|
-
|
Dean Moodie
R New York
| |
10/31/2013
|
1 Bed
|
2 Bath
|
-
|
$899,000
1 Bed
2 Bath
|
$755,000
-16.02%
05/13/2014
|
Leah Rubin
Olympic Realty New York, Inc.
|
Building Info
