OWNER MOTIVATED-PRICE IMPROVEMENT. Step into a blend of historic charm and modern comfort at this remarkable 3, 493 SF three-story, mixed-use, property on 329 Grand Street in the vibrant Lower East Side neighborhood. Built originally in 1910, this well maintained walk-up spotlights two renovated residential units and one commercial space. An incredible chance for savvy investors or developers, this gem of a property offers an additional FAR of unused 4, 953 SF. Equally remarkable is the commercial space that nearly comprises the lot's entirety, occupying a substantial 1, 365 SF footprint, with an extra storage basement spanning 450 SF. This well-maintained ground floor grocery store currently has four years left on its lease, attesting to stability and assured returns. The second floor leads into a newly renovated dwelling showcasing three spacious bedrooms, one stylishly finished bathroom and a sleek, modern kitchen. Bathed in light through double-pane windows with dual exposures, this space is a homage to industry and convenience. High ceilings paired with durable Pewter Oak laminate floorings, a Sparkle Quartz countertop island, with new appliances create a welcoming and warm ambiance. Units are currently occupied, adding to this property's appeal as a ready-made investment. Progress to the third floor and discover a renovated oasis featuring Bamboo wood floors, three ample-sized bedrooms, a fully-equipped kitchen, and a beautifully finished bathroom with custom tiles. This floor-through space was remodeled in 2019, flaunting a modern aesthetic that cleverly echoes its historic roots while offering the comforts of modern living. Located in a dynamic and thriving neighborhood, 329 Grand Street is optimally positioned within a handful of minutes from East Broadway, Grand Street, and Delancey Street B, D, F and M Train Stations. You'll be right in the heart of the city's most intriguing districts, the Lower East Side, and Chinatown, surrounded by an eclectic mix of eateries, shops, and cultural hubs. Don't let this uncommon opportunity pass you by. Enrich your portfolio with this superb investment and potentially convert to the residence of your dreams. Reach out today to schedule your tasting of the Big Apple!
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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 | $3,196,000 | $3,196,000 | $3,196,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.125% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.769% | 6.270% | 5.864% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $17,897 | $19,419 | $26,326 |
Total Monthly Payment | $18,022 | $19,544 | $26,451 |
* 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.