491 MADISON Street #MULTI
About This Property
Upon stepping into the grand foyer, you're greeted by the home's timeless charm. The soaring cathedral ceilings, intricately restored millwork, original wall paneling, plaster and carefully preserved period details transport you back to its original era. The restored woodwork and hardwood floors, bordered with nail head detailing, whisper stories of the home's rich heritage, while every space has been rejuvenated to provide the best of modern luxury.
The owner's triplex is a masterpiece of design, where classical elegance meets modern luxury. The grand, south-facing great room stuns with its soaring 12-foot ceilings, iconic exposed brick, and oversized windows that drench the space in natural light, casting a glow over the meticulously restored hardwood floors and intricate millwork. The dining area, framed by architectural splendor, flows seamlessly into a showstopping gourmet kitchen. At its center lies an imposing double island, outfitted with premium Bosch appliances, including a double oven and vented hood, while the grey backsplash ties every detail together with impeccable style. tranquility into the space including a private terrace for morning coffee.
Outside, the landscaped private garden is a rare urban sanctuary. The raised deck, complete with a fire pit, is perfect for al fresco dining and entertaining, while the beautifully designed garden offers tranquility and space for large gatherings alike.
On the garden level, you'll find the secondary entrance, leading to two impeccably designed king size bedrooms. The oversized primary suite boasts an enormous layout, reading nook, ample closet space and a luxurious en-suite bath, with direct access to the garden. The secondary south facing bedroom finished with original floors houses a king bed, huge closet space and natural light. This level provides the perfect balance of privacy and elegance, offering a retreat from the hustle of city life.
The lower-level recreation room has been thoughtfully designed with a separate entrance, full bathroom, and washer/dryer, making it an ideal space for guests, residence members, or even as a private work-from-home office. This versatile space offers endless possibilities for living and relaxation.
On the third floor, a fully renovated three-bedroom, one-bath apartment awaits. The open-plan kitchen and living room are accented by exposed brick walls, while south-facing windows allow for abundant natural light. A washer/dryer adds convenience, making this unit perfect for generating rental income or hosting extended family.
The fourth-floor residence is a true gem, bathed in sunlight from dual skylights. The expansive one-bedroom layout features whitewashed brick walls, sleek white oak floors, and an open-plan kitchen. The south-facing primary bedroom includes a home office nook, while the skylight-lit bath and energy-efficient washer/dryer create a bright, airy space that feels both modern and serene.
491 Madison Street is more than a home-it's a lovingly restored piece of history, crafted with a level of care and attention that is rarely seen. This is a chance to own a truly exceptional Brooklyn brownstone, where every element has been designed for comfort, luxury, and timeless beauty.
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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 |
|---|---|---|---|
| Dec 18, 2024 | Sold | ||
| Sold | |||
| Nov 10, 2024 | In contract | - | |
| In contract | |||
| Oct 17, 2024 | Listed by Douglas Elliman Real Estate | $2,995,000 | |
| Listed by Douglas Elliman Real Estate | |||
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
10/17/2024
|
6 Bed
|
5 Bath
|
4500 ft²
|
$2,995,000
6 Bed
5 Bath
4500 ft²
|
$2,995,000
12/18/2024
|
Gerard Smith
Elliman
|
Building Info
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017