NOT LISTED FOR SALE

5240 Independence Ave Bronx, NY 10471

Estimated Value: $1,798,000 - $5,286,000

7 Beds
8 Baths
7,000 Sq Ft
$551/Sq Ft Est. Value

Last Sold October 10, 2017

Last sale price $3,995,000 $571 Per Sq Ft

Est. 4% decrease in value since last sale

Current estimated payment $23,769/month

99 Days on Market

About This Home

As of October 2017

Exquisitely designed Colonial-style stone mansion in prime Riverdale Estate section, boasts views of the Hudson River. Situated on nearly half an acre, this +/-7000 square ft 7-bedroom, 7.5-bath home was delivered "white box" by the developer, and now showcases a one million dollar extensive renovation the owner masterfully completed.

Enter the dramatic double-height foyer, into a grand living room with w/wood burning fireplace and separate formal dining area. Sunlight floods in through multiple windows and french doors which lead to private flagstone patios. The spacious eat-in kitchen features top-of-the-line appliances such as a Sub-Zero fridge, Wolf oven with 6-burner range, Miele dishwasher and a wine cooler. There is an abundance of custom cabinetry and pantry space as well as a large center island with Corian counter tops. The rest of this level includes a large media room w/gas fireplace, powder room, an office, and a bedroom w/en-suite bath currently used as a fitness room.

The 2nd floor is comprised of 5 bedrooms each with en-suite bathrooms. The expansive master suite features stunning cathedral ceilings, 2 walk-in closets, and an exquisite marble bathroom w/radiant heated floors, soaking tub and separate shower. There is also a washer/ dryer on this level.

Upstairs on the 3rd floor, you will find, a large multi-purpose room, additional guest bedroom and bath, plus ample closets and storage space.

This magnificent home includes an expansive front, side, and leveled backyard as well as an attached 2 car garage, 4-zone central air-conditioning/heating system, and an EcoStar slate-style roof. Conveniently located near Wave Hill, the Riverdale Yacht Club and a short walk to Metro-North, this very special home is in mint condition and a must see!

Co-Exclusive.

Co-Listed By

Rachel Glazer

Compass License #10301209116

Compass

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $33,676

Lot Details

  • 0.47

Interior Spaces

  • 7,000 Sq Ft Home
  • Wood Burning Fireplace

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 8 Bathrooms

Community Details

  • Riverdale Subdivision

Listing and Financial Details

  • Tax Block 5942

Home Details

Home Type

Single Family

Est. Annual Taxes

$33,676

Lot Details

0

Listing Details

  • Property SubType: Single Family Residence
  • Property Type: Residential
  • Neighborhood: Riverdale
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Fireplace Features: Wood Burning
  • Fireplace: Yes
  • Living Area: 7000.0
  • Living Area Units: Square Feet
  • Rooms (Total): 13

Beds/Baths

  • Bathrooms Integer: 8
  • Bedrooms: 7

Building Info

  • Units: 1

Tax Info

  • Tax Block: 5942

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 2, 2017
Closed on
Oct 2, 2017
Sold by
Lapp Eli A
Bought by
Katz Ari Lee and Katz Shimona Rina
List Price
$3,995,000
Sold Price
$3,995,000
Current Estimated Value
$3,854,747

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$140,253
Avg. Annual Appreciation
0.34%
Original Mortgage
$841,277
Outstanding Balance
$707,014
Interest Rate
3.78%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$3,395,554

Purchase Details

Closed on
Feb 10, 2011
Sold by
5240 Independence Llc
Bought by
Lapp Eli A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
4.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 18, 2005
Sold by
Neustein Josh
Bought by
5240 Independence Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,267,500
Interest Rate
5.84%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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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
Katz Ari Lee $3,650,000 --
Katz Ari Lee $3,650,000 --
Lapp Eli A $2,559,000 --
Lapp Eli A $2,559,000 --
5240 Independence Llc -- --
Neustein Josh $1,690,000 --
5240 Independence Llc -- --
Neustein Josh $1,690,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Katz Ari Lee $20,000
Open Katz Ari Lee $841,277
Closed Katz Ari Lee $500,000
Closed Katz Ari Lee $841,277
Previous Owner Lapp Eli A $500,000
Previous Owner Lapp Eli A $1,500,000
Previous Owner Neustein Josh $1,267,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/10/2017 10/10/17 Sold $3,995,000 0.0% $571 / Sq Ft
09/10/2017 09/10/17 Pending -- -- --
06/03/2017 06/03/17 For Sale $3,995,000 -- $571 / Sq Ft
Source: Real Estate Board of New York (REBNY)

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
2025 $33,676 $177,727 $19,681 $158,046
2024 $33,676 $167,668 $22,125 $145,543
2023 $34,052 $167,668 $25,663 $142,005
2022 $32,484 $222,240 $37,560 $184,680
2021 $32,900 $180,420 $37,560 $142,860
2020 $31,350 $199,320 $37,560 $161,760
2019 $29,229 $205,500 $37,560 $167,940
2017 $27,642 $135,600 $37,560 $98,040
2016 $26,043 $130,276 $32,414 $97,862
2015 $15,551 $123,422 $38,010 $85,412
2014 $15,551 $116,436 $33,515 $82,921
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10474033

Real Estate Board of New York (REBNY)

APN: 05942-0275