327 Vanderbilt Avenue #0
About This Property
Or convert the garage for more living space.
The building is a 2 story 2200sf Italianate carriage house with a Sloping roofline, creating soaring interior ceiling heights. The building is extra wide at 22 feet and the lot is 90 feet. The building is distinguished by its beautiful exterior which has one enormous large elliptical arched window and 2 smaller arched windows.
It is located on the most desirable block: between DeKalb and Lafayette Avenue.
Create your own dream home by adding another floor or an extension in the back, (see rendering 1 and 2), with the approximate 1700sf available FAR, (confirm with your architect of course). It is presently set up as a 4 car garage on the first floor and a 2 bedroom apartment on the 2nd floor. There is one bath and a kitchen which both need to be redone.
The second floor has 3 skylights a super huge 5 foot skylight and 2 smaller ones. The original 8 inch sea-faring floor planks remain and have been exposed and refinished. The 2 staircases add to the versatility of your future floor plan: there's a front entry staircase and a rear staircase that leads to the garage.
The house has been in this family for generations and originally was owned by Remsen Johnson, a wealthy real estate magnate who lived in the mansion behind the carriage house at 314 Clinton Ave. He hired the present owners' grandfather who at the time was a young immigrant Irish chauffeur who lived there with Mr. Remsen's Packard.
Another interesting historical note is that the building's rear yard borders on a rarely known mews/lane where horses were brought into the neighboring carriage houses from the mansions of Clinton Ave. Out in the back yard, this property has 2 gorgeous original cast iron hitching posts from that bygone era. The horse walkway from the main lane remains and it curves around to the back of the building. The original cobblestone lane lies just outside the gate. Other horse-related details remain i.e. an interior hitching rail, the horse shoe makers table, and metal rings for tying the horses.
Price: $2.1mm
House info:
22x 90 lot
Building 22x 50
Curb cut in front
Single family
FAR 1740sf (approximation that must be verified)
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017