Just a few doors from the Guggenheim and the Central Park Reservoir, located in one of Carnegie Hill’s most desirable and sought after full-service prewar co-ops, this rarely available, south facing convertible 3 bedroom, 2 1/2 bath corner residence at East 88th Street and Madison Avenue finally comes on the market. Located in a stunning William M. Dowling designed Art Deco Era building, this prewar gem features grandly proportioned rooms that are flooded with light and, at an estimated 1, 800 sq feet, this beautiful home can easily be reimagined into a full 3 bedroom. You enter through a spacious foyer that leads to an elegant sunken living room. The highlight of this graciously sized room are the large corner windows that afford breathtaking south facing city views. The foyer also flows seamlessly to a large, formal dining room as well to an oversized Primary Suite. A second large bedroom is at the opposite end of the apartment allowing for privacy. Both bedrooms have a full en-suite bath and there is an additional half bath / powder room off the foyer. Other features include the large, windowed kitchen, an abundance of closet space, new south-facing casement windows in every room, high-beamed ceilings, original wood flooring with Art Deco marquetry, and decorative moldings throughout–exemplifying the classic elegance of Art Deco design with a gracious and fluid layout perfect for entertaining. 19 East 88th Street is one of the most revered pre-war co-ops in prime Carnegie Hill. The building features a meticulously restored and beautifully maintained Art Deco lobby, a landscaped roof deck with multiple seating areas and stunning panoramic views, a brand new fitness center, central laundry, a bike room, and storage. Washer/dryers and central A/C are both permitted with board approval, and pets are allowed. The building has sound financials and low maintenance. There is a 2% flip tax payable by purchaser and 50% financing is allowed. Pied a Terres, Co-Purchasers and Parents buying for children are all considered on a case by case. *Special Assessment* November 1st, 2024 - October 2027 $1. 79/share: $714. 21 monthly special assessment amount. There are 2 projects the assessment will cover: 1) Façade project (has already begun) 2) Hallway project Located close to all forms of transport, many cultural institutions, countless restaurants, cafes, and retailers.
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William Raveis Mortgage, LLC
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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 | $2,000,000 | $2,000,000 | $2,000,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.125% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.769% | 6.270% | 5.864% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $11,199 | $12,152 | $16,475 |
Total Monthly Payment | $11,324 | $12,277 | $16,600 |
* 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.