Centrally located on Fifth Avenue between 31st and 32nd Streets in Manhattan, this turn-key mixed-use building was built in 2010 and spans a total of Thirteen stories with a brick fa ade with modernly designed stone formation throughout and floor-to-ceiling windows overlooking Fifth Avenue.
304 Fifth Avenue will be delivered fully vacant, an excellent opportunity for the buyer to have complete flexibility in deciding how to utilize the space, whether for commercial, residential, or mixed-use purposes.
The main floor features oversized glass windows facing Fifth Avenue with a double-height atrium allowing natural light throughout the day. This space could serve as a storefront retail space or showroom. This building is configured as nine commercial and three residential levels, with two elevators servicing the building throughout.
Levels 1-9: Commercial/Office usage totaling 14, 700 square feet
Levels 10-13: Residential usage totaling 5, 000 square feet
The property in Midtown South offers easy access to major transportation, tourist attractions and is at the crossroads of Flatiron, NoMad, Koreatown, Times Square, Herald Square, Midtown, and Chelsea neighborhoods.
The general building configuration includes:
Zoning: C5-2 (Floor Area Ratio of 10)
Current Use: Storefront Retail/Office
20, 000+ square feet of flexible space
20 feet of frontage on Fifth Avenue
A double-height glass lobby with a receptionist desk and a large gallery area
Two modern full-size passenger elevators with stairwell access on every floor
Nine windowed commercial floors with closets, restrooms, and private outdoor space
304 Fifth Avenue is fully equipped with code requirements and features:
Sprinkler systems, standpipes, fire alarms, fire pumps, and a 15, 000-gallon suction tank water supply
Two elevators and three staircases
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Our Executive Mortgage Banker:
Our Insurance Division:
$15,500,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $12,400,000 | $12,400,000 | $12,400,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.250% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.821% | 6.396% | 5.990% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $70,406 | $76,349 | $102,971 |
Total Monthly Payment | $70,531 | $76,474 | $103,096 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.