$2,500,000

224 E State St Ithaca, NY 14850

Downtown Ithaca Neighborhood

Estimated payment $17,669/month

Total Views 35,020
-- Bed
-- Bath
12,090 Sq Ft
$207 Price per Sq Ft

Highlights

  • Brick or Stone Mason
  • Intercom
  • Wood Siding
  • DeWitt Middle School Rated A-
  • Central Heating and Cooling System
  • 3-minute walk to Bernie Milton Pavilion

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.

Listing Agent

Laura Fiore

Warren Real Estate of Ithaca Inc. Brokerage Phone: 607-351-6155 License #10301208660 Listed on: 04/23/2024

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $53,600

Year Built

  • Built in 1904

Lot Details

  • 2,178 Sq Ft Lot
  • Lot Dimensions are 21x104

Parking

  • Off-Site Parking

Home Design

  • Brick or Stone Mason
  • Frame Construction
  • Membrane Roofing
  • Rubber Roof
  • Wood Siding
  • Metal Siding

Interior Spaces

  • 12,090 Sq Ft Home
  • 4-Story Property
  • Carpet
  • Basement Fills Entire Space Under The House

Home Security

  • Intercom
  • Fire Sprinkler System

Accessible Home Design

  • Accessible Elevator Installed

Schools

  • Beverly J Martin Elementary School

Utilities

  • Central Heating and Cooling System
  • Air Source Heat Pump
  • Phone System

Community Details

  • 6 Units
  • Private Restrooms

Listing and Financial Details

  • Assessor Parcel Number 500700-070-000-0003-007-000-0000

Property Details

Home Type

Apartment

Est. Annual Taxes

$53,600

Year Built

Built in 1904

Lot Details

0

Listing Details

  • Property Sub Type: Apartment
  • Prop. Type: Commercial Sale
  • Business Type: Bar/Tavern/Lounge
  • Lot Size Acres: 0.05
  • Lot Size: 21X104
  • Inclusions: Land and Building
  • Directions: Corner of N. Aurora St. and E. State St. "Restaurant Row", East end of Commons
  • Building Stories: 4
  • Year Built Details: Existing
  • Year Built: 1904
  • Property Sub Type Additional: Apartment,Commercial
  • Attribution Contact: 607-351-6155
  • Special Features: None
  • Stories: 4
  • Year Built: 1904

Interior Features

  • Number Of Buildings: 1
  • Accessibility Features: Accessible Elevator Installed
  • Has Basement: Full
  • Basement YN: Yes
  • Fireplace: No
  • Flooring: Carpet
  • Living Area: 12090.0
  • Stories: 4

Exterior Features

  • Waterfront: No
  • Construction Type: Brick, Frame, Metal Siding, Wood Siding
  • Property Condition: Resale
  • Roof: Membrane, Rubber

Garage/Parking

  • Parking Features: Off Site

Utilities

  • Security: Fire Sprinkler System, Intercom
  • Green Building Features: Elevator(s), Floor Drain(s), Phone System, Private Restrooms
  • Cooling: Heat Pump, Central Air
  • Cooling Y N: Yes
  • Heating: Electric, Heat Pump
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Utilities: Sewer Connected, Water Connected
  • Water Source: Public

Schools

  • Elementary School: Beverly J Martin Elementary
  • Junior High Dist: Ithaca

Lot Info

  • Parcel #: 500700-070-000-0003-007-000-0000
  • Zoning Description: Other - See Remarks
  • Zoning: CBD_60
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 6

Tax Info

  • Tax Annual Amount: 53600.0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

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 $60,411 $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

Property History

Date Event Price Change Sq Ft Price
04/24/2024 04/24/24 For Sale $2,500,000 -- $207 / Sq Ft
Source: Ithaca Board of REALTORS®

Purchase History

Date Type Sale Price Title Company
Deed -- Kimberly Rothman
Deed -- John Hinchcliff
Deed -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,300,000 Commercial
Source: Public Records

Source: Ithaca Board of REALTORS®

MLS Number: R1531300

APN: 500700-070-000-0003-007-000-0000

New York Tompkins County Ithaca 14850 Downtown Ithaca

224 E State St, Ithaca, NY

This home is located at 224 E State St, Ithaca, NY 14850 and is currently priced at $2,500,000, approximately $206 per square foot. This property was built in 1904. 224 E State St is a home located in Tompkins County with nearby schools including Beverly J. Martin Elementary School, DeWitt Middle School, and Ithaca Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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Laura Fiore
Listing Agent
Laura Fiore
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Warren Real Estate of Ithaca Inc.
(607) 703-2861