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35 Spring Street, New York (Little Italy), NY, 10012 | $7,495,000
Exquisite Turn-Key Mixed-Use Townhouse in the Heart of NoLita
Attention all investors, 1031 Exchange seekers, and end users! Here's your chance to own a spectacular income-producing property at 35 Spring Street, nestled between Mott and Mulberry Streets. This meticulously renovated townhouse seamlessly blends luxury living with prime commercial opportunities in the vibrant NoLita neighborhood.
Property Features:
Dimensions & Space:
- Spanning 19 feet wide, this property offers over 5, 200 sq ft of exquisitely designed space with an additional 2, 000 sq ft of buildable potential.
Residential Details:
- The residence features 3 full bedrooms, 3 full bathrooms, 3 half bathrooms, and a versatile home office.
- Enjoy four unique outdoor spaces perfect for relaxation and entertaining.
- Designed with alternating living and entertaining floors to provide an ultimate balance of fun and quiet.
- A flexible bonus space can transform into an additional living room, lounge, or media room.
- The rooftop oasis offers breathtaking views of SoHo, NoLita, and the LES, complete with a half bath and doorbell buzzer for effortless hosting.
Design & Amenities:
- Crafted by AW4B Architects, every detail has been considered.
- Experience pin-drop quiet interiors with superior mechanicals, including central heat and air.
- Soaring ceilings and rich hardwood floors create a sense of grandeur throughout.
- The chef's kitchen boasts an oversized skylight, flooding the space with natural light.
- Ample storage options for bikes and personal items ensure a clutter-free living experience.
Location & Accessibility:
- Enjoy the best of both worlds: central location with private and discreet living.
- Just steps away from iconic spots like Supreme, Lombardi's, Aime Leon Dore, and Ruby's.
Investor Details:
Residential Tenant: Tenant paying $29, 950/month.
Commercial Tenant: BOBA GUYS contributes $7, 853/month with 3. 5% annual increases, currently in year 3 of a 10-year lease, along with proportional building expenses.
Financials:
- Annual Income: $453, 636
- Annual Expenses: Approx $35, 844 (taxes, water/sewer, gas)
- CAP Rate: 5%+
This stunning townhouse presents an exceptional combination of luxurious living and lucrative investment potential. Don't miss your opportunity to own a prime piece of downtown real estate that truly has it all.
Features
- Town: New York
- Levels: 4
- Cooling: Unknown Type
- Amenities: Roof Deck; Wine Cellar; Digital TV;
- Zoning: C6-2
- Year Built: 1855
- Building Access : Walk-up
- Service Level: Video Intercom
- Built Size: 18'5"x58'5"
- OLR#: RPLU33423024871
- Days on Market: 33 days
- Website: https://www.raveis.com
/prop/RPLU33423024871/35springstreet_newyork_ny?source=qrflyer
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.Listing courtesy of Corcoran Group
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Customer Service
888.699.8876
Contact@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
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To learn more about our credentials, visit raveis.com today.
Sarah AlvarezVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.Alvarez@Raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
35 Spring Street, New York (Little Italy), NY, 10012
$7,495,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah Alvarez
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $5,996,000 | $5,996,000 | $5,996,000 |
| 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 | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $34,516 | $37,407 | $51,003 |
| Total Monthly Payment | $34,641 | $37,532 | $51,128 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535