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28 Watch Way
About This Property
The dramatic great room opens to a designer kitchen featuring a statement lilac marble island, custom cabinetry, and premium appliances. Five bedrooms include a main-level primary suite, upper-level junior primary suite, and an additional en-suite bedroom. Highlights include a den with fireplace, mudroom, butler's pantry, first-floor laundry, a glass-enclosed temperature-controlled wine display accommodating approximately 1,000 bottles, and an expansive lower level with defined spaces, already outfitted, offering endless possibilities for additional living, wellness, recreation, and entertainment spaces.
Resort-style outdoor amenities include expansive terraces, a saltwater pool and spa, outdoor kitchen, professionally landscaped grounds, and a spectacular 1,300-square-foot upper terrace with a wood-burning fireplace. A rare opportunity to experience contemporary coastal living in one of Lloyd Neck's most coveted locations.
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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.
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 |
|---|---|---|---|
| Sep 11, 2026 | Price Decreased |
$7,300,000
↓ $599K
(7.6%) | |
| Price Decreased | |||
| Jun 22, 2026 | Listed by Daniel Gale Sothebys Intl Rlty | $7,899,000 | |
| Listed by Daniel Gale Sothebys Intl Rlty | |||
| Jun 9, 2026 | Withdrawn | - | |
| Withdrawn | |||
| Mar 29, 2026 | Price Decreased |
$8,288,888
↓ $211K
(2.5%) | |
| Price Decreased | |||
| Nov 10, 2025 | Listed by Keller Williams Points North | $8,500,000 | |
| Listed by Keller Williams Points North | |||
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Where modern architecture meets the serenity of the sea, 28 Watch Way stands as a bold statement of design and lifestyle on Long Island’s Gold Coast. Designed by the renowned Philip Rossillo of PRDG Architecture + Design and developed by Hither Hills Group, this newly completed 5,000+ sq. ft. residence redefines coastal luxury across three levels of inspired living. Nestled within Watch Bay, an exclusive enclave of just four custom homes with private beach access spanning nearly 1,300 linear feet and breathtaking views of the Long Island Sound, this five-bedroom, five-and-a-half-bath estate captures the essence of refined waterfront living—without compromise. Every element of this home has been curated to elevate daily life: Acoya wood siding and Turkish limestone create a seamless transition from exterior to interior, while floor-to-ceiling windows flood the open living spaces with natural light and unobstructed water views. The chef’s kitchen anchors the main level with its custom millwork, integrated appliances, and waterfall island designed for entertaining and connection.
A first-floor en suite provides effortless comfort for guests, while the primary suite on the upper level offers a spa-like retreat—complete with radiant heated floors, walk-in closet, and a floor to ceiling windows overlooking the Sound. Outdoors, luxury unfolds in every direction: a heated saltwater pool and spa, outdoor kitchen, and fireplace lounge invite you to savor the seasons, while a 1,500+ sq. ft. rooftop terrace crowns the home with panoramic views stretching across the water and coastline. Designed for both beauty and function, the home features a full 2,500 sq. ft. finished lower level, a two-car garage with high ceilings, a Navien high-efficiency heating system, smart-home integration, radiant flooring, and a whole-home generator for peace of mind. Dock permits have been submitted, adding yet another layer of value and access to the waterfront lifestyle. Every detail of 28 Watch Way speaks to craftsmanship, innovation, and tranquility—a home designed not just to live in, but to feel. Welcome to Watch Bay. Where luxury meets legacy.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017