Charming and Historic 1 Bedroom with Private Terrace at Ritz Tower Perched on the 26th floor of the legendary Ritz Tower, discover this luminous 1-bedroom residence with its very own secluded terrace. As you enter Residence 26C, a welcoming foyer leads you to a well-appointed kitchenette with a GE refrigerator, dishwasher, microwave, and a Summit stove and oven. Adjacent to the foyer, the living room offers an elegant space with herringbone floors, three expansive east-facing windows, and a cozy dining alcove that opens onto a charming terrace. This terrace is adorned with stately balustrades and intricately carved pillars, reflecting the architectural splendor of the 1920s, and provides a spectacular vantage point over Midtown Manhattan. The bedroom, seamlessly connected to the living area, boasts expansive views from two north-facing windows, a spacious walk-in closet, and an en-suite bathroom featuring marble countertops and additional north-facing views. An additional large closet is conveniently located near the bedroom entrance. This residence supports 50% financing and is open to pied-à-terre and foreign buyers. Utilities are included in the monthly maintenance fees. Small pets may be considered subject to board approval. A 3% flip tax is applicable, paid by the purchaser. Constructed in 1925, this prestigious limestone-clad pre-war cooperative was crafted by the esteemed Emery Roth and Thomas Hastings. At the time of its completion, the 41-story Ritz Tower was the tallest residential building in New York City, uniquely exempt from height restrictions due to its innovative design without individual kitchens. The Ritz is celebrated as a monumental achievement in American architecture, with Roth and Hastings infusing classical elegance into a structure of unprecedented scale and grandeur. Described by historians like Robert A. M. Stern, Gregory Gilmartin, and Thomas Mellins as the pinnacle of urban living, the Ritz Tower stands at the northeast corner of 57th Street, offering unparalleled five-star services. These include daily maid service, a full-time doorman, concierge, valet service, a newly renovated fitness center, a conference/party room, and an on-site resident manager. Shareholders can indulge in exclusive dining experiences, with meals prepared by the Ritz Tower’s resident Chef and served in their apartments, available five days a week. Located mere steps from Central Park, high-end Madison Avenue boutiques, Bloomingdales, and top New York dining destinations like The Polo Bar, Avra Madison Estiatorio, and Daniel, the Ritz Tower epitomizes luxury Manhattan living.
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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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $396,000 | $396,000 | $396,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.498% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,635 | $2,632 | $3,395 |
Total Monthly Payment | $2,710 | $2,707 | $3,470 |
* 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. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.