NOT LISTED FOR SALE

224 E State St Ithaca, NY 14850

Downtown Ithaca Neighborhood
-- Bed
-- Bath
12,090 Sq Ft
2,178 Sq Ft Lot

About This Home

INVESTMENT OPPORTUNITY: High demand location in the Heart of the Finger Lakes, and home to Cornell University and Ithaca College. This Iconic four story building, in a prominent commercial corridor, “Restaurant Row”, and Gateway to the famous Ithaca Commons is looking for new ownership for the first time in many years. With over 12,000 SF, it was redesigned by architect Jason Demarest and under-went comprehensive renovations in 2016. This investment opportunity includes long term quality tenant Simeons Restaurant and offers elevator service to five, bright and spacious, 1 - bedroom and 1 - bedroom plus den apartments with high quality finishes. Ideal for investors aiming to capitalize on Ithaca's vibrant market, ensuring continuous demand and significant growth potential.

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 5, 2015
Sold by
Shen Hsueh-Lang
Bought by
Shen Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,300,000
Outstanding Balance
$1,025,628
Interest Rate
3.88%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 29, 2009
Sold by
Shen Family Partnership L
Bought by
Shen Properties Llc

Purchase Details

Closed on
Jul 31, 1996
Sold by
Shen Shan Fu Ming Ming
Bought by
Shen Family Ptshp Lp
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

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ICE

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Shen Properties Llc -- Kimberly Rothman
Shen Properties Llc -- John Hinchcliff
Shen Family Ptshp Lp -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Shen Properties Llc $1,300,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/25/2025 10/25/25 Off Market $2,500,000 -- --
10/21/2025 10/21/25 For Sale $2,500,000 0.0% $207 / Sq Ft
04/24/2024 04/24/24 For Sale $2,500,000 -- $207 / Sq Ft

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $32,120 $1,600,000 $165,000 $1,435,000
2023 $35,214 $1,600,000 $165,000 $1,435,000
2022 $60,587 $1,600,000 $165,000 $1,435,000
2021 $60,587 $1,600,000 $165,000 $1,435,000
2020 $37,215 $1,600,000 $165,000 $1,435,000
2019 $3,034 $1,600,000 $165,000 $1,435,000
2018 $34,498 $1,450,000 $165,000 $1,285,000
2017 $35,425 $1,450,000 $165,000 $1,285,000
2016 $9,719 $400,000 $165,000 $235,000
2015 -- $821,000 $165,000 $656,000
2014 -- $821,000 $165,000 $656,000
Source: Public Records

Agents Affiliated with this Home

  • Laura Fiore

    Seller's Agent in 2024

    Laura Fiore

    Warren Real Estate of Ithaca Inc.

    (607) 351-6155

    3 in this area

    54 Total Sales

    Laura Fiore
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Map

New York Tompkins County Ithaca 14850 Downtown Ithaca

224 E State St, Ithaca, NY

Not Listed for Sale

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