This once-magnificent mansion is a blank canvas for those looking to undertake a significant restoration project. The home's architecture reflects its era with grand scales, intricate moldings, and expansive windows. The mansion has several majestic features such as ornate fireplaces, mosaic tile floors, and indoor fountains. The home is so magnificent, it was featured on the television show, "Cheap Old Houses"! While the mansion requires extensive repairs, its potential to be a luxurious residence or a prestigious boutique hotel is immense. Please note this property is being sold as-is and requires significant repairs and renovations to address structural issues, plumbing, electrical systems, and general cosmetic updates. Seize the opportunity to restore a grand 1936 mansion only 90 minutes from NYC. This stately property offers a generous 8, 000 square feet of living space, beckoning a visionary to return it to its original splendor. The Sullivan County Land Bank owns the mansion and is motivated to find someone to bring this back into residential use. The Land Bank requests a letter of interest be submitted outlining intended use, proof of funds, and experience with projects such as this. Showings will be scheduled with qualified buyers only.
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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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $240,000 | $240,000 | $240,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 5.990% | 4.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.398% | 6.161% | 5.152% |
Monthly Tax Payment | $1,142 | $1,142 | $1,142 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,458 | $1,437 | $1,882 |
Total Monthly Payment | $2,675 | $2,654 | $3,099 |
* 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.