68 PILGRIM LANE
About This Property
Step through the fluted glass entry door into a foyer where slate and mahogany continue seamlessly, revealing soaring ceilings and an expansive sunken living room anchored by a striking stacked stone gas fireplace. Two oversized sliding glass doors at the rear of the living room open to the first of multiple outdoor terraces, creating a natural connection between indoor and outdoor living.
To the right of the foyer, the chef's eat in kitchen is both functional and welcoming, featuring a 36 inch cooktop, double convection wall ovens, durable Corian countertops and recently re faced cabinetry. Enjoy morning coffee in the breakfast area or step onto the adjacent terrace while overlooking meticulously maintained gardens through a custom picture window complemented by woven wood window treatments.
For additional entertaining space, continue into the expanded family room, where bold yet refined tones beautifully complement the rich mahogany walls. This space is enhanced by iconic Poul Cadovius System Cado wall shelving, which may be included with the purchase. A fully equipped wet bar with sink and a second dishwasher makes hosting effortless. A third massive sliding door leads to a second terrace, which flows seamlessly to a third terrace, offering exceptional outdoor entertaining options.
The main level also includes a spacious powder room and an expansive garage with a heated workroom, ideal for hobbies or a second laundry area. Adjacent to the garage is a bonus finished basement, perfect as a playroom, retreat or flexible living space.
Upstairs, you will find four generously sized bedrooms and a convenient second floor laundry area featuring a new LG WashTower and utility sink. The primary suite offers a spacious en suite bath with a meticulously maintained whirlpool tub, stand up shower and tranquil views of Pilgrim Park, along with an impressively sized and well organized walk in closet. The second bedroom enjoys its own en suite with a new double vanity and pristine walk in shower. The third and fourth bedrooms provide ample space, with the fourth featuring beautiful mahogany built ins, ideal for a nursery, home office or hidden study. The hall bath is a true standout, showcasing Onyx countertops and the original Cinderella corner bathtub, offering both charm and generous proportions.
This home has been lovingly maintained and thoughtfully upgraded, including a new second floor AC system with UV scrubber in 2023, cotton attic insulation, a freshly soft washed roof, a high capacity water heating system and custom landscape lighting. Offering nearly 4000 square feet of living space, three heating zones, two AC systems and abundant storage, this home is perfectly suited for comfortable living and entertaining.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017