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88 Pace Drive S
About This Property
The first floor is thoughtfully designed to accommodate multi-generational living & private guest accommodations. The primary suite offers a private retreat featuring a dedicated sitting room with direct access to the backyard, a spacious walk-in closet & a luxurious en-suite bathroom with radiant heated flooring. In addition, the first level includes a second large bedroom with a brand-new en-suite full bathroom, providing both privacy & convenience. Upstairs, the home continues with real natural hardwood flooring throughout the entire second floor, including a second impressive primary suite with vaulted ceilings, expansive closet space including a walk-in closet, & a newly completed oversized en-suite bath. Additional bedrooms are generously sized, many featuring vaulted ceilings and backyard views, along with a full hallway bathroom.
Outdoor living is equally impressive, offering a true resort-style backyard designed for entertaining & relaxation. The expansive main yard features a stunning L-shaped saltwater pool w/ all new equipment & a natural gas heater, surrounded by mature privacy landscaping and generous lawn space. A covered, convertible patio extends the living space outdoors, creating a seamless indoor-outdoor experience ideal for gatherings and events.
In addition to the main yard, the property offers a separate oversized side yard, fully fenced & exceptionally private, featuring both patio & grass areas-a highly versatile outdoor space perfect for additional entertaining & recreation. The exterior is further enhanced by in-ground sprinkler systems, custom landscape lighting, two storage sheds & a secondary gated service access area. Built for modern luxury living, the home is fully equipped with fiber-optic backbone wiring throughout and a 5-zone HVAC system with fully integrated smart WiFi controls. Additional features include a formal dining area with custom built-in serving cabinetry and seating, extensive built-in storage throughout, two full-length attic storage areas, a custom 2 car garage, & full generator hookup. Solar Panels are Owned & EV Charger installed.
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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 23, 2026 | In contract | - | |
| In contract | |||
| Aug 28, 2026 | Price Decreased |
$1,499,000
↓ $100K
(6.3%) | |
| Price Decreased | |||
| Aug 7, 2026 | Price Decreased |
$1,599,000
↓ $100K
(5.9%) | |
| Price Decreased | |||
| Jun 13, 2026 | Price Decreased |
$1,699,088
↓ $68K
(3.9%) | |
| Price Decreased | |||
| May 5, 2026 | Listed by Douglas Elliman Real Estate | $1,767,088 | |
| Listed by Douglas Elliman Real Estate | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017