5040 INDEPENDENCE Avenue
$5,850,000
MLS# RLS20024172 · Estate Area
Originally listed at $6,450,000. Price last reduced on May 14, 2026.
Listed May 15, 2025 · 547 days on the market
9 Beds 8 Baths 17,620 Sq.Ft.
About This Property
A Grand Mansion in Historic Riverdale - 5040 Independence Avenue Commanding over 1.2 acres of prime land in the verdant enclave of Riverdale, the Bronx, 5040 Independence Avenue is a once-in-a-generation offering. This exceptional estate, nestled above the iconic Wave Hill Gardens, is steeped in both architectural significance and presidential heritage as it is located on the very same site that the childhood home of John F. Kennedy once stood when he attended Riverdale Country School. At the heart of the estate is an awe-inspiring primary mansion spanning approximately 17,620 interior square feet across three expansive floors, with an additional 7,500-square-foot basement offering endless potential for customization. Inspired by the spiraling curves of the Guggenheim Museum, the residence features a dramatic triple-height atrium-a luminous, rotunda-like centerpiece that creates a sense of openness, elegance, and timeless modernity. With 9 bedrooms, 7 bathrooms, and 2 powder rooms, this grand mansion offers incredible scale and volume for refined living and entertaining. A sprawling sunken living room opens seamlessly onto a generous terrace, part of the estate's 4,500 square feet of terraced outdoor space that embraces the natural beauty of the Hudson River Valley. Complementing this are a formal dining room, large eat-in kitchen that is also complimented by a large adjacent morning terrace, a separate library, media room, and multiple entertaining salons. A 10-car garage adds both functionality and prestige. A separate cottage-ideal for guests, staff, or extended family-offers an additional 2,000 square feet, including 3 bedrooms, 2 bathrooms, and an attached 2-car garage. This rare and expansive Riverdale property combines the privacy and grandeur of an exclusive country residence with the convenience of proximity to Manhattan-you can get to Midtown Manhattan in under 30 minutes by car, and not much longer via the Metro North or Subway trains. Wave Hill Gardens sits directly west of the property, offering its lush gardens and grounds, art gallery, cultural center, and charming caf for additional respite and enjoyment. Just a few blocks away are the Riverdale Stables and golf course in Van Cortland Park, as the Riverdale Yacht Club and picturesque Hudson River trails, offering a lifestyle rich in recreation, sport, and history. 5040 Independence Avenue is more than a residence-it's a legacy property rooted in American history, surrounded by nature, and designed for both extraordinary living and inspired entertaining. While 5040 will welcome your own-or your architect's-vision to complete the property, it will be delivered with a Temp Certificate of Occupancy. Images included have been virtually staged.
Agent's Note
From Curtis Bain. Details about the apartment are drawn from the listing information provided through RLS by Douglas Elliman Real Estate.
The house at 5040 Independence Avenue already has the practical pieces in place: a washer and dryer in the unit, central air, a dishwasher and a 10-car garage. The main house runs 17,620 square feet over three floors, with a 7,500-square-foot basement that the listing describes as open to customization.
The triple-height atrium is the center of the house, a rotunda-like space the listing says was inspired by the Guggenheim Museum. The sunken living room opens onto a terrace, and the formal dining room sits alongside a large eat-in kitchen. That kitchen has its own adjacent morning terrace, which gives breakfast and coffee somewhere outside to go.
Outdoors, the listing describes about 4,500 square feet of terraced space, and the house has a private garden, a deck and a wraparound terrace. A terrace that size changes how a house gets used, especially when meals move outside. A Juliet balcony is also listed, which opens a room to fresh air but isn't usable outdoor space.
Wave Hill is about a minute's walk away, Riverdale Park about 5 minutes on foot, and Vinmont Veteran Park about 8 minutes. Glyndor Gallery is about 4 minutes on foot, so there's plenty nearby for a slow weekend.
A separate cottage adds about 2,000 square feet with 3 bedrooms, 2 bathrooms and an attached 2-car garage. It's a self-contained option for guests, and it sits alongside the main house rather than inside it.
Quick answers+
Does the house have in-unit laundry?
Yes, there is a washer and dryer in the unit.
Is there private outdoor space?
Yes, there is a private garden, a deck, a terrace, a wraparound terrace and private outdoor space over 60 square feet.
Does the house have central air?
Yes, central air is included, along with an electric fireplace.
Curtis Bain
Brown Harris Stevens
Property Features
Policies
- Pets allowed
- Smoke-free
Home features
- Washer/dryer in unit
- Central air
- Electric fireplace
- Dishwasher
- High ceilings
- Storage
- Walk-in closets
- Balcony
- Private garden
- Juliet balcony
- Private outdoor space (over 60 sq ft)
- Deck
- Terrace
- Wraparound terrace
Building amenities
Services and facilities
- Green building
Estimate
Monthly Cost & Closing Costs
The rate is a placeholder, not a quote. Enter the one your lender gives you.
$34,488 / month
- Principal and interest$29,581
- Property taxes$4,907
Due at closing
- Down payment (20%)$1,170,000
- NYS “mansion tax” (2.25%)$131,625
- Mortgage recording tax (1.925%)$90,090
Not included: attorney, title insurance, lender and appraisal fees, board application and move-in fees, flip tax and prepaid items. Estimates only, based on the published New York State rates. Your attorney and lender will confirm the real figures.
About the Building
5040 Independence Avenue is a 3-story one-family dwelling, completed in 1899 and home to 1 residential units. The most recent major alteration on record was in 1995.
Wave Hill is roughly 1 minute away on foot.
Compiled from NYC public records and open data.
- Year Built
- 1899
- Stories
- 3
- Units
- 1
- Building Type
- One-Family Dwelling
View 5040 Independence Avenue building profile and all listings →
Location & Nearby
Map
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5040 INDEPENDENCE Avenue
Parks
- Wave HillAbout 1 min walk
- Riverdale ParkAbout 5 min walk
- Vinmont Veteran ParkAbout 8 min walk
Public schools · Elementary schools
- P.S. 81 Robert J. ChristenAbout 11 min walk
Colleges & universities
- Manhattan UniversityAbout 21 min walk
- University of Mt St VincentAbout 24 min walk
Walking times are estimates. Schools shown are the nearest public and charter schools and are not zone assignments; a nearby school is not necessarily the one an address is zoned for. Confirm zoning with the NYC Department of Education. Sources: MTA, NYC Parks and NYC Department of City Planning open data.
Gallery
Property Photos
Listing Courtesy of Douglas Elliman Real Estate
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.