NOT LISTED FOR SALE

Estimated Value: $2,072,000 - $3,849,391

5 Beds
3.5 Baths
3,880 Sq Ft
$783/Sq Ft Est. Value

Last Sold May 11, 2022

Last sale price $3,532,000 $910 Per Sq Ft

Est. 14% decrease in value since last sale

Current estimated payment $16,485/month

160 Days on Market

Highlights

  • Pre War Building
  • Intercom
  • Patio
  • Terrace
  • Building Patio
  • Garden

About This Home

As of May 2022

Located in historic Stuyvesant Heights, 588 Madison was originally built in 1889 by infamous architect William Godfrey and gut renovated and redesigned by a principle at KGBL, a renowned NYC furniture design and architecture firm. This 4 bedroom, 2.5 bathroom triplex home boasts four stories of living space with two private terraces and with the addition of a 1 bedroom, 1 bathroom garden apartment with access to the private backyard complete with a garden. Enter up the steps into the parlor floor of this immaculately restored turn-of-the-century French Neo-Grec brownstone with soaring ceilings, 20th century details, and custom designed white oak with walnut inlay flooring throughout. The formal sitting room will take you back in time with its' gloriously restored moldings, handmade white oak pocket doors, dramatic windows and stunning original pier mirror. The kitchen is equipped with Thermador appliances, custom walnut cabinets with satin lacquer fronts, and a solid walnut butcher block work surface that sits atop the kitchen island. Off the kitchen is a cozy sunroom/breakfast room with French doors that direct you onto the terrace with access to a private backyard. The second floor is designed as a traditional primary suite-floor complete with en-suite primary bath offering custom created linen cabinets, separate vanities, tub and enclosed shower. Off the master bath is a custom walnut walk-in closet which connects to a sitting room or additional bedroom. On the top floor of the brownstone are two additional large bedrooms each with enormous walk-in closets. This floor has a laundry closet and bright full bath with skylight and double sinks with plenty of storage. The property has central heating and air conditioning complete with a humidification system through-out the Triplex and Garden apartment. The Stunning and elegant garden floor unit with private entrance and outdoor space with immediate income. Currently occupied with a tenant this type of rental unit rarely comes available with so much attention to detail and sophistication. This floor thru one bedroom has a massive eat in kitchen, lovely grand living room and quiet bedroom which faces on to the garden. Featuring a top of the line kitchen and bath, washer and dryer, and an abundance of storage space in the basement. This unit has access to a private patio and garden. Located on one of the most desirable blocks in Stuyvesant Heights within a short distance to coffee shops, bakeries, parks and restaurants as well as multiple bus lines and the A/C Express at Utica Avenue and J at Kosciusko Street.

Co-Listed By

Jamyl Harrison

Sothebys International Realty License #10401289350

Sothebys International Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1899

Lot Details

  • Lot Dimensions are 20.0 x 100.0
  • Garden

Home Design

  • Pre War Building

Interior Spaces

  • 3,880 Sq Ft Home
  • 4-Story Property
  • Intercom

Bedrooms and Bathrooms

  • 5 Bedrooms

Outdoor Features

  • Patio
  • Terrace

Utilities

  • Central Air

Listing and Financial Details

  • Legal Lot and Block 14 / 1645

Community Details

Overview

  • Stuyvesant Heights Subdivision

Amenities

  • Building Patio
  • Building Terrace
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1899

Lot Details

2,004 Sq Ft Lot

Listing Details

  • Cross Street: Lewis Avenue/Stuyvesant Avenue
  • Property SubType: Multi Family
  • Property Type: Residential
  • Neighborhood: Stuyvesant Heights
  • Architectural Style: Prewar
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 4

Interior Features

  • Equipment (Other): Intercom
  • Living Area: 3880.0
  • Living Area Units: Square Feet

Beds/Baths

  • Full Bathrooms: 3
  • Half Bathrooms: 1
  • Bathrooms Integer: 4
  • Bedrooms: 5

Exterior Features

  • Exterior Features: Garden
  • Patio/Porch Features: Building Patio, Building Terrace, Patio, Terrace

Garage/Parking

  • Garage: No

Utilities

  • Laundry Features: Common Area
  • Cooling: Building Cooling, Central Air
  • Cooling: Yes

Lot Info

  • Lot Size Dimensions: 20.0 x 100.0

Building Info

  • Total Stories: 4
  • Year Built: 1899

Tax Info

  • Tax Block: 1645
  • Tax Lot: 14

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 20, 2016
Closed on
May 11, 2022
Sold by
Aboah Charles R
Bought by
Freeman Robert M and Picini Joseph D
List Price
$3,532,000
Sold Price
$3,532,000
Current Estimated Value
$3,037,098

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$494,902
Avg. Annual Appreciation
-3.84%
Original Mortgage
$2,825,000
Outstanding Balance
$2,672,139
Interest Rate
5.1%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$364,959

Purchase Details

Closed on
Aug 24, 2016
Sold by
Bunce Christiaan and Gim Jules
Bought by
Aboah Charles

Purchase Details

Closed on
Mar 6, 2015
Sold by
Waddell Willie
Bought by
Bunce Christiaan and Gim Jules

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$796,250
Interest Rate
3.6%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 8, 2008
Sold by
Waddell Joyce A and Waddell Willie
Bought by
Waddell Willie
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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
Freeman Robert M $3,532,000 --
Freeman Robert M $3,532,000 --
Aboah Charles $2,610,000 --
Aboah Charles $2,610,000 --
Bunce Christiaan $1,225,000 --
Bunce Christiaan $1,225,000 --
Waddell Willie -- --
Waddell Willie -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Freeman Robert M $2,825,000
Closed Freeman Robert M $2,825,000
Previous Owner Bunce Christiaan $796,250
Closed Waddell Willie $0
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/11/2022 05/11/22 Sold $3,532,000 0.0% $910 / Sq Ft
12/01/2021 12/01/21 For Sale $3,532,000 -- $910 / 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 $8,199 $150,000 $25,860 $124,140
2024 $8,199 $151,500 $25,860 $125,640
2023 $8,162 $171,660 $25,860 $145,800
2022 $7,543 $140,520 $25,860 $114,660
2021 $7,527 $114,180 $25,860 $88,320
2020 $3,696 $121,200 $25,860 $95,340
2019 $7,116 $114,060 $25,860 $88,200
2018 $6,892 $33,808 $6,989 $26,819
2017 $6,336 $32,550 $8,497 $24,053
2016 $4,099 $22,056 $10,551 $11,505
2015 $2,182 $19,905 $10,985 $8,920
2014 $2,182 $18,810 $12,453 $6,357
Source: Public Records

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Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10825110

Real Estate Board of New York (REBNY)

APN: 01645-0014

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