$4,375,000
$120K PRICE DROP

50 Franklin Ave Rye, NY 10580

Estimated payment $24,425/month

Total Views 36,819
6 Beds
4.5 Baths
4,525 Sq Ft
$967 Price per Sq Ft

Highlights

  • Eat-In Gourmet Kitchen
  • Open Floorplan
  • Wolf Appliances
  • Rye Middle School Rated A+
  • Colonial Architecture
  • Living Room with Fireplace

About This Home

Welcome to your luxury new-construction home at 50 Franklin Avenue in highly sought-after Rye Gardens. Meticulously designed and custom built by The Red Diamond Group, this ~4,525-square-foot residence offers an exceptional blend of classic elegance and modern functionality. An open-concept layout with soaring 10-foot ceilings on the main level creates an ideal setting for both everyday living and sophisticated entertaining. The home features an attached two-car garage and a grand two-story foyer with 20+ foot ceilings, intricate custom paneling, and crown molding throughout.
At the heart of the home is a chef’s kitchen featuring locally crafted custom cabinetry, a stunning 10-foot Taj Mahal Quartzite Island with a double waterfall edge, and two built-in refrigerator drawers for beverages and additional storage. Professional-grade appliances include a 48-inch Wolf Range and a 48-inch panel-ready Fisher & Paykel Refrigerator. A 16-foot Pella sliding glass door seamlessly connects the dining area to an ~500-square-foot Trex deck, creating an ideal indoor-outdoor entertaining space. The dining room features a custom built-in coffee bar with an additional beverage refrigerator. Anchoring the adjacent living room is a 72-inch linear fireplace finished in matching Taj Mahal Quartzite.
The primary suite occupies its own private wing on the upper level and includes two walk-in closets and a spa-like ensuite bath with a freestanding soaking tub and rain-head shower. Also on the upper level are three additional spacious bedrooms and two additional bathrooms, with each bedroom offering direct access to a bathroom.
The walk-out lower level includes a finished movie theater, a flexible sixth bedroom or gym/office, and a private guest suite. This level opens to a covered patio and a professionally landscaped private yard surrounded by Green Giant Evergreens.
Built with premium materials and systems throughout, the home features a hydro-forced hot-air HVAC system with three units and four zones—one for each floor plus a dedicated zone for the primary suite—as well as a Navien gas boiler with an indirect hot water tank. Interior finishes include 5-inch select white oak hardwood flooring throughout and a comprehensive custom millwork package with bespoke cabinetry for built-ins, vanities, and walk-in closets. The home is fully wired for smart-home functionality and includes a keypad alarm, security cameras, Sonos speakers, and 4-inch LED recessed lighting, all powered by a 200-amp electrical panel. Additional features include Pella Lifestyle Series Windows with SDL grilles for energy efficiency and timeless style, and an exterior finished in Arctic White James Hardie lap and shake siding.
Located just a short walk to Osborn Elementary, Rye Middle School, and Rye High School, and approximately 40 minutes by train to Grand Central, this property offers the perfect combination of privacy, luxury, and convenience in one of Rye’s most desirable neighborhoods

Listing Agent

Kory Borenkoff

R2M Realty Inc Brokerage Phone: 845-358-2000 License #10401322195 Listed on: 10/28/2025

Home Details

Home Type

  • Single Family

Year Built

  • Built in 2025

Lot Details

  • 10,019 Sq Ft Lot

Parking

  • 2 Car Garage
  • Garage Door Opener
  • Driveway

Home Design

  • Colonial Architecture
  • Shake Siding
  • HardiePlank Type
  • Stucco

Interior Spaces

  • 4,525 Sq Ft Home
  • 3-Story Property
  • Open Floorplan
  • Whole House Entertainment System
  • Indoor Speakers
  • Sound System
  • Built-In Features
  • Dry Bar
  • Woodwork
  • Crown Molding
  • Tray Ceiling
  • High Ceiling
  • Recessed Lighting
  • Chandelier
  • Electric Fireplace
  • Gas Fireplace
  • ENERGY STAR Qualified Doors
  • Entrance Foyer
  • Living Room with Fireplace
  • 2 Fireplaces
  • Formal Dining Room
  • Storage
  • Wood Flooring
  • Smart Thermostat

Kitchen

  • Eat-In Gourmet Kitchen
  • Breakfast Bar
  • Convection Oven
  • Electric Oven
  • Gas Cooktop
  • Microwave
  • Freezer
  • Dishwasher
  • Wine Refrigerator
  • Wolf Appliances
  • Stainless Steel Appliances
  • Kitchen Island

Bedrooms and Bathrooms

  • 6 Bedrooms
  • En-Suite Primary Bedroom
  • Dual Closets
  • Walk-In Closet
  • In-Law or Guest Suite
  • Double Vanity
  • Freestanding Bathtub
  • Soaking Tub

Laundry

  • Laundry Room
  • Dryer
  • Washer

Finished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House
  • Fireplace in Basement
  • Basement Storage

Schools

  • Osborn Elementary School
  • Rye Middle School
  • Rye High School

Utilities

  • Forced Air Heating and Cooling System
  • Underground Utilities
  • Natural Gas Connected
  • Water Heater
  • High Speed Internet
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 4 / 2
  • Assessor Parcel Number 1400-146-018-00002-000-0004

Home Details

Home Type

Single Family

Year Built

Built in 2025

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential
  • Architectural Style: Colonial
  • Property SubType: Single Family Residence
  • Property Condition: New Construction
  • Levels: Three Or More
  • Year Built: 2025
  • Year Built Effective: 2025
  • Attribution Contact: 845-358-2000
  • Carport Y N: No
  • CurrentPrice: 4375000.00
  • MlsMajorChangeType: Price Decrease
  • CurrentPrice_By_LivingArea: 966.85083
  • ListPrice_By_LivingArea: 966.85083
  • ListPrice_By_OriginalListPrice: 0.97330
  • ListPrice_By_LotSizeAcres: 19021739.1304
  • LivingAreaSearchSqFt: 4525.00
  • CurrentPrice_By_BuildingAreaTotal: 966.85083
  • Special Features: NewHome
  • Property Sub Type: Detached
  • Year Renovated: 2025

Interior Features

  • Appliances: Convection Oven, Cooktop, Dishwasher, Dryer, Electric Oven, ENERGY STAR Qualified Appliances, Freezer, Gas Cooktop, Gas Range, Microwave, Oven, Refrigerator, Stainless Steel Appliance(s), Washer, Indirect Water Heater, Wine Refrigerator
  • Interior Amenities: Breakfast Bar, Built-in Features, Chandelier, Chefs Kitchen, Crown Molding, Double Vanity, Dry Bar, Eat-in Kitchen, ENERGY STAR Qualified Door(s), Entertainment Cabinets, Entrance Foyer, Formal Dining, High Ceilings, High Speed Internet, His and Hers Closets, In-Law Floorplan, Kitchen Island, Natural Woodwork, Open Floorplan, Open Kitchen, Primary Bathroom, Quartz/Quartzite Counters, Recessed Lighting, Smart Thermostat, Soaking Tub, Sound System, Speakers, Storage, Tray Ceiling(s), Walk-In Closet(s), Washer/Dryer Hookup, Whole House Entertainment System, Wired for Sound
  • Fireplaces: 2
  • Flooring: Hardwood
  • Fireplace Features: Basement, Electric, Gas, Living Room
  • Full Bathrooms: 4
  • Half Bathrooms: 1
  • Basement: Finished, Full, See Remarks, Storage Space, Walk-Out Access
  • Total Bedrooms: 6
  • Fireplace: Yes
  • Living Area: 4525
  • Basement YN: Yes

Exterior Features

  • Construction Materials: HardiPlank Type, Shake Siding, Stucco
  • Pool Private: No
  • Spa: No
  • Waterfront: No

Garage/Parking

  • Total Parking Spaces: 8
  • Garage Spaces: 2
  • Garage: Yes
  • Parking Description: Driveway, Garage, Garage Door Opener

Utilities

  • Cooling: Central Air
  • Heating: Forced Air
  • Laundry Features: Gas Dryer Hookup, Inside, Laundry Room, Washer Hookup
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Underground Utilities, Water Connected
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Middle School: Rye Middle School

Lot Info

  • Lot Size Acres: 0.23
  • Lot Size Sq Ft: 10019
  • Parcel Number: 1400-146-018-00002-000-0004
  • Property Attached: No

Rental Info

  • Lease Considered: No

Tax Info

  • Tax Block: 2
  • Tax Lot: 4
  • Tax Year: 2025

MLS Schools

  • Elementary School: Osborn
  • High School: Rye High School
  • Middle School District: Rye City

Map

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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 $20,483 $16,900 $5,550 $11,350
2023 $19,173 $16,900 $5,550 $11,350
2022 $18,571 $16,900 $5,550 $11,350
2021 $18,516 $16,900 $5,550 $11,350
2020 $17,494 $16,900 $5,550 $11,350
2019 $7,433 $16,900 $5,550 $11,350
2018 $12,616 $16,900 $5,550 $11,350
2017 $4,458 $17,400 $5,550 $11,850
2016 $7,119 $17,400 $5,550 $11,850
2015 -- $17,400 $5,550 $11,850
2014 -- $19,200 $5,550 $13,650
2013 -- $19,200 $5,550 $13,650
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/06/2026 01/06/26 Price Changed $4,375,000 0.0% $967 / Sq Ft
01/06/2026 01/06/26 For Sale $4,375,000 -2.7% $967 / Sq Ft
12/24/2025 12/24/25 Off Market $4,495,000 -- --
10/28/2025 10/28/25 For Sale $4,495,000 +187.7% $993 / Sq Ft
05/23/2024 05/23/24 Sold $1,562,500 +12.0% $704 / Sq Ft View Prior Sale
02/02/2024 02/02/24 Pending -- -- --
01/25/2024 01/25/24 For Sale $1,395,000 -- $629 / Sq Ft
Source: OneKey® MLS

Purchase History

Date Type Sale Price Title Company
Deed $1,562,500 Core Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $2,612,629 Construction
Source: Public Records

Source: OneKey® MLS

MLS Number: 929454

OneKey® MLS

APN: 1400-146-018-00002-000-0004