Updated Sep 9, 2024
Shelter Island Single Family Sells For $13M Setting New 15-Year Record
2 Charlies Ln Shelter Island, NY 11964, USA
$13,000,000
$2,166/SF
Building Size
6,000 SF
Asset Type
Single Family
Closing
Aug 30, 2023
About this deal
AI
The Snyder House at 2 Charlie's Lane in Shelter Island's Long Island hamlet has set a new 15-year residential market record with a sale price of $13 million. This single-family property, represented by Nick Brown of Sotheby's International Realty, offers a spacious interior spanning 6,000 square feet. With a price per square foot of $2,167, this transaction exemplifies the high-end market demand in Shelter Island.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $13,000,000
- Address: 2 Charlie's Lane, Shelter Island
- Market: Shelter Island
- Broker: Nick Brown - Sotheby's International Realty
- Square Footage: 6,000
- Price per Square Foot: $2,167
This notable transaction was facilitated by Nick Brown, a broker from Sotheby's International Realty. With their expertise in the Shelter Island market, Nick Brown played a pivotal role in closing the deal for the Snyder House at 2 Charlie's Lane. This sale highlights the strong demand for high-value properties in the Long Island hamlet, contributing to Shelter Island's thriving residential market.
Shelter Island Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $2.2K per square foot on a published $13M for 6,000 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93