Experience quintessential New York City living at its best in a spectacular 3 bedroom, 3 and a half bathroom jewel in one of Manhattan’s most iconic skyscrapers. The true essence of old NY is impeccably reimagined and perfectly epitomized in this glamorous Upper East Side home at the exclusive Sherry Netherland, a preeminent residential hotel moments from Central Park. Graciously-proportioned #505 was meticulously designed by the famed Jeffrey Bradfield, named a Dean of American Design by Architectural Digest and a Top Ten Designer by The Robb Report. Every exquisite, custom-made detail in this pristine-condition residence is rare and impressive, and reminiscent of another refined era. Superlative elements abound throughout representing an unparalleled quality of craftsmanship, from elegant coffered and tray ceilings to rich woods and intricate marble floors, magnificent moldings, custom millwork doors, a stately marble fireplace mantle, high-end lighting, to premium Bullet brackets and hardware adorning all cabinets and doors. Topping the allure are the breathtaking views of Central Park, Fifth Avenue, landmark architecture and Manhattan skyline, enjoyed from oversized windows lining the entire southern and western sides of the sun-bathed apartment. Another very special attraction is the separate 137 sq ft windowed storage unit on same that comes with the apartment and has its own full bathroom. Enter the generous stunning central gallery with gorgeous marble floors, a beautiful domed ceiling, large closet and upscale powder room. While proceeding to the dramatic entertaining space, fabulous hidden folding doors, which appear as part of the paneling, can be extended to close off the gallery and living area for privacy if desired. The expansive southwest corner living room affords an ideal backdrop for entertaining. Adjoining via pocket doors is a formal dining room featuring tasteful built-ins for fine china, and dark herringbone-pattern wood floors. Across the hall is a modern kitchen styled with sleek white cabinetry and countertops, and top-of-the-line appliances for the chef. At right is extensive built-in storage, and a convenient washer-dryer. The huge primary bedroom suite is phenomenal, offering walls of closets, arched mirrored display niches, a sitting area, and luxurious spa bath with a deep soaking tub and separate shower. Beyond is an ultra-luxurious dressing room wrapped in floor-to-ceiling mirrored closets, with an additional walk-in closet, marble-top storage island, and makeup vanity. This room was originally the 3rd bedroom and can easily be converted back as it comes with a lovely full bath. Across the home is the 3rd bedroom suite with a wall of mirrored closets and full bath, which makes a comfortable den or office as well. Built in 1927 as a world-class hotel and converted to a cooperative in 1954, the landmarked Sherry Netherland sits at the epicenter of Manhattan, moments from Central Park, The Plaza, Pierre, premier shops, restaurants and other attractions. Elevating the lifestyle is its work-of-art lobby adorned with a restored ceiling mural based on Raphael's frescoes at the Vatican Palace, and white-glove services/amenities including a 24-hour doorman, concierge, and attended elevators. Residents may partake in hotel services as well such as daily maid service, an onsite fitness center, hair salon, and valet parking. Pied-a-terres are allowed. The current monthly maintenance for 505 is $20, 148 and the maid’s room 519 is $1, 170. 83. The total monthly assessment for 505 and 519 is $2, 679. 18 thru 9/1/2027. The maintenance will be increased as of 1/1/2023 to $302 per share which will make the monthly maintenance $24, 411. 67 for 505 and $1, 258. 33 for 519. The assessment remains the same.
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Our Executive Mortgage Banker:
Our Insurance Division:
$4,800,000
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 | $3,840,000 | $3,840,000 | $3,840,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.625% | 6.500% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.955% | 6.612% | 6.182% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $22,105 | $24,271 | $32,404 |
Total Monthly Payment | $22,230 | $24,396 | $32,529 |
* 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.