7 Cedar Lane
About This Property
Upon entering, you are greeted by a sophisticated interior designed for modern living. Originally rebuilt in 2005, the home thoughtfully preserves elements of its past, including a fireplace and the signature turret, maintaining the charm and character of this Gatsby-esque property.
Rich in history, the home was carefully constructed to honor the integrity of the original residence. Architectural details such as stained glass and a one-of-a-kind interior door have been meticulously restored and repurposed, further enhancing the home's connection to its storied past.
The exterior is equally impressive. Enjoy sweeping views of the Long Island Sound from the custom patio, ideal for outdoor gatherings or quiet relaxation. The pool and well-appointed pool house create a private retreat, perfect for entertaining. This exceptional property in Red Spring Colony also offers access to a sandy private beach, allowing you to fully embrace waterfront living, whether it is paddling along the shore, soaking in the sun, or enjoying breathtaking sunsets.
This property seamlessly blends luxury, history, and coastal living, an extraordinary offering for today's discerning homeowner.
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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 |
|---|---|---|---|
| Sep 17, 2026 | Listed by Compass Greater NY LLC | $3,650,000 | |
| Listed by Compass Greater NY LLC | |||
| Aug 15, 2026 | Withdrawn | - | |
| Withdrawn | |||
| May 18, 2026 | Relisted | $3,750,000 | |
| Relisted | |||
| May 16, 2026 | No longer available | - | |
| No longer available | |||
| May 1, 2026 | Price Decreased |
$3,750,000
↓ $240K
(6%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017