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This is a rare opportunity to create a magnificent 2200 SF residence at the Berkeley Co-op on a tree-lined street in the historic district of Jackson Heights. Bring your Architect with the idea of combining a 1, 000 square foot one bedroom apartment with a former 1, 200 square foot two bedroom into an awesome three to four bedroom, two bath home with four exposures.
Enter the one bedroom prewar apartment into a large foyer. Notice the art deco arches, bookcases, crown moldings and high ceilings leading into the rest of the great room. One step up is a dining area and galley kitchen. Consider opening the kitchen onto the living area and adding an island. Next to the dining area is a foyer leading to the primary en suite. There is a dressing room with three closets and a fabulous windowed bathroom with a soaking tub and shower stall. The enormous bedroom has two exposures and a small alcove with a decorative block window.
Leaving the one bedroom, enter the apartment next door. The apartment was originally a two bedroom, converted to a doctor's office. Upon renovation, the unit may be converted back to residential status. The right wall may be opened onto the one bedroom creating an even larger great room. There is plenty of room for three sizeable bedrooms with windows and closets in addition to a study or guest room. Pets are welcome!
The elegant Berkeley Co-op consists of three buildings built in 1937 and 1938. A stunning courtyard garden is tended to by residents on a volunteer basis. Each building has laundry facilities, storage (wait list) and bike rooms. There is currently a new window assessment of $211 monthly. Residents enjoy the Sunday Green market and recently renovated Travis Park within 2 blocks. Local favorites include: 77 Espresso, Lemon Farm, Lety's Bakery & Cafe, Table Wine, Stand Alone Cheese and the Queensboro Restaurant. The subway station hub has 5 subway lines: E/F/M/R/7.
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William Raveis Real Estate
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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 |
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Loan Amount | $700,000 | $700,000 | $700,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.625% | 6.375% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.229% | 6.486% | 6.307% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,030 | $4,367 | $5,954 |
Total Monthly Payment | $4,122 | $4,459 | $6,046 |
* 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.