22
Map
35 Gardners Lane
About This Property
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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.
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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 |
|---|---|---|---|
| Nov 4, 2026 | Price Decreased |
$1,599,000
↓ $100K
(5.9%) | |
| Price Decreased | |||
| Aug 10, 2026 | Price Decreased |
$1,699,000
↓ $76K
(4.3%) | |
| Price Decreased | |||
| Jul 15, 2026 | Listed by Corcoran | $1,775,000 | |
| Listed by Corcoran | |||
| Jul 2, 2026 | Temporarily off market | - | |
| Temporarily off market | |||
| May 1, 2026 | Listed by Douglas Elliman Real Estate | $1,850,000 | |
| Listed by Douglas Elliman Real Estate | |||
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Presenting a rare investment opportunity in Hampton Bays, this waterfront multifamily compound offers direct Shinnecock Bay views on Penny Pond with 80 feet of frontage, a 40-foot dock, and sandy beach access. Situated on 0.44 acres, the property features multiple income-producing structures, including a two-bedroom, two-bath main house with cathedral ceilings, a gourmet kitchen, and a living room with a fireplace. The asset also includes a two-bedroom cottage and a one-bedroom studio located above a detached two-car garage, with several units separately metered to provide flexibility for year-round rental income. Architectural plans and approvals are already in place to renovate and expand existing structures, which include a separate guest cottage and an 18-foot-by-36-foot gunite pool. Key property features include extensive landscaped grounds with a sprinkler system. This versatile property allows investors to reposition it as a boutique rental compound, operate it as a seasonal retreat, or redevelop it into a luxury waterfront estate. Located just minutes from ocean beaches at the gateway to the Hamptons, both homes are also available for lease.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017