Seller's Agent in 2017
George Vanderploeg
Douglas Elliman Real Estate
(917) 301-0158
2 in this area
20 Total Sales
232 E 68th St New York, NY 10065
Lenox Hill NeighborhoodEstimated Value: $6,264,000 - $8,050,000
4
Beds
6
Baths
6,000
Sq Ft
$1,206/Sq Ft
Est. Value
Highlights
- Pre War Building
- 3-minute walk to 68 Street-Hunter College
- Garden
- East Side Elementary School, P.S. 267 Rated A
- Terrace
- 4-minute walk to St. Catherine's Park
About This Home
As of April 2017PRICED TO SELL AT $8,960,000 ($1,493/SF and 3.8% cap rate) - This beautifully renovated 2-family house has approximately 6,000 interior square feet (buildable to 8,500 SF for residential use and 10,500 SF for community facility use) and 1,800 exterior square feet. The property has 3 street entrances and currently consists of an owner's triplex and a high income duplex rental apartment, but it is easily converted back to single family. It is also an ideal investment property. The upper duplex has been rented out continuously for the last several years to high income and corporate tenants. Going forward the projected rent is $13,000 for the upper duplex and $22,000 for the garden triplex for a total gross income of $35,000 p.m . or $420,000 p.a. After total expenses of about $80,000 p.a (including $60,000 in real estate tax), Net Operating Income (NOI) is approximately $340,000 or 3.8% of the $8,960,000 asking price. This is a superior cap rate for such a prime property. Given the buildable 10,500 SF for community facility use this property also has the potential to be expanded as a medical, educational or nonprofit facility.
Last Agent to Sell the Property
Douglas Elliman Real Estate License #30VA0599615 Listed on: 04/11/2016
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1880
Lot Details
- 1,830
Home Design
- Pre War Building
Interior Spaces
- 6,000 Sq Ft Home
- 4-Story Property
Bedrooms and Bathrooms
- 4 Bedrooms
- 6 Bathrooms
Additional Features
- Terrace
- Garden
Listing and Financial Details
- Tax Block 1422
Community Details
Overview
- 2 Units
- Upeast Subdivision
Building Details
- Water Sewer Expense $6,360
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 11, 2016
Closed on
Apr 3, 2017
Sold by
Three S Ventures Llc
Bought by
232 East 68Th Street Llc
Seller's Agent
George Vanderploeg
Douglas Elliman Real Estate
List Price
$9,500,000
Sold Price
$8,000,000
Premium/Discount to List
-$1,500,000
-15.79%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$762,667
Avg. Annual Appreciation
-1.12%
Purchase Details
Closed on
Feb 28, 2003
Sold by
Pantelidis James and Pantelidis Stella
Bought by
Three S Ventures Llc
Purchase Details
Closed on
Aug 16, 2002
Sold by
Fullerton Real Estate I
Bought by
Pantelidis James and Pantelidis Stella
Purchase Details
Closed on
Dec 17, 2001
Sold by
East 68Th St Co Llc
Bought by
Fullerton Real Estate I
Purchase Details
Closed on
Jun 3, 1999
Sold by
Alexander Susan S
Bought by
East 68Th St Co Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,030,086
Interest Rate
7.76%
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 232 East 68Th Street Llc | $8,000,000 | -- | |
| Three S Ventures Llc | $12,950,000 | -- | |
| Pantelidis James | -- | -- | |
| Fullerton Real Estate I | -- | -- | |
| East 68Th St Co Llc | -- | First American Title Ins Co |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | East 68Th St Co Llc | $1,030,086 | |
| Closed | Three S Ventures Llc | $0 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/27/2024 10/27/24 | Off Market | $16,000 | -- | -- |
| 08/24/2024 08/24/24 | For Rent | $16,000 | 0.0% | -- |
| 04/04/2017 04/04/17 | Sold | $8,000,000 | -15.8% | $1,333 / Sq Ft |
| 03/05/2017 03/05/17 | Pending | -- | -- | -- |
| 04/13/2016 04/13/16 | For Sale | $9,500,000 | -- | $1,583 / Sq Ft |
Source: Real Estate Board of New York (REBNY)
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 |
|---|---|---|---|---|
| 2025 | $81,564 | $418,038 | $169,022 | $249,016 |
| 2024 | $81,564 | $406,092 | $212,220 | $257,109 |
| 2023 | $82,473 | $406,092 | $139,167 | $266,925 |
| 2022 | $73,883 | $515,100 | $212,220 | $302,880 |
| 2021 | $77,418 | $501,300 | $212,220 | $289,080 |
| 2020 | $73,738 | $563,580 | $212,220 | $351,360 |
| 2019 | $70,792 | $653,760 | $212,220 | $441,540 |
| 2018 | $68,985 | $338,410 | $177,064 | $161,346 |
| 2017 | $66,241 | $324,951 | $177,041 | $147,910 |
| 2016 | $61,284 | $306,559 | $162,150 | $144,409 |
| 2015 | $22,593 | $290,304 | $200,685 | $89,619 |
| 2014 | $22,593 | $282,009 | $183,523 | $98,486 |
Source: Public Records
Agents Affiliated with this Home
-
George Vanderploeg
-
Steffen Kral
Seller Co-Listing Agent in 2017
Steffen Kral
Douglas Elliman Real Estate
(917) 246-0736
8 Total Sales
Map
Source: Real Estate Board of New York (REBNY)
MLS Number: RLS10061115
APN: 1422-0136
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