85 Vanderlip Drive
About This Property
This nearly 100 year old home immediately captivates with its soaring ceilings and open-concept layout that flows effortlessly from room to room, providing a sense of spaciousness and warmth. Expansive windows bathe the interiors in natural light, offering views of the ocean and the surrounding landscape. Gorgeous custom kitchen plus a butler's pantry for additional party preparations.
The epic fireplace serves as the centerpiece of the living room, inviting cozy gatherings and intimate conversations. The adjacent dining area opens onto a terrace, where al fresco dining becomes a daily delight against the backdrop of spectacular sunsets over the ocean.
Beyond the exquisite design and breathtaking views, this home carries historical significance. Built in the early 20th century, it reflects the architectural trends of the time, showcasing the craftsmanship and artistry that defined the era. The home has been lovingly preserved and updated, ensuring that its historical integrity remains intact. Used initially to house workers and subsequently drivers for Frank Vanderlip, it has been lovingly maintained by the same family for the past 60 years.
***Recent conditions have changed and land movement has swept through much of the area. The owner has fought back, having "helical" piers recently installed. The piers appear to be working and the house shows very few affects of the movement. As further insurance to save the home for posterity, engineering plans have been developed for putting the home on steel beams and are available to use should the piers not suffice.
The home is offered for a fraction of its pre-movement value...and will offer a buyer a unique blend of elegance, comfort and breathtaking beauty, making it a true treasure to be loved by the next family lucky enough to call it home.
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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 |
|---|---|---|---|
| Jun 30, 2025 | Sold | ||
| Sold | |||
| Jun 28, 2025 | In contract | - | |
| In contract | |||
| Apr 26, 2025 | Price Decreased |
$1,995,000
↓ $505K
(20.2%) | |
| Price Decreased | |||
| Oct 23, 2024 | Relisted | $2,500,000 | |
| Relisted | |||
| Oct 6, 2024 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017