Development Site. This is a portfolio sale offering consisting of two adjacent, side-by-side tax lots totaling 4, 700 SF with 9, 400 BSF. This is a R6B FAR 2 zone permitting as of right 9, 400 buildable SF. Delivered vacant, currently consisting of one 2-story building 19' x 53' on a 22' x 100' lot with two offices and two half baths on the ground level and a 1-bedroom apartment with a full bath and a studio with a full bath on the second level. There is also an auxiliary structure on this lot currently used for storage. The adjacent parcel is 25' X 100' and is unencumbered. There is a wide curb cut and this lot is walled off from the street and has an industrial roll-up access gate. This property can be kept as is or is suitable for residential development. Owner financing available up to $2mm of this portfolio purchase. Close to Costco, Hallet's Cove Beach, the Astoria Ferry Terminal, and the N and W trains at the Broadway Station.
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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 Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $2,560,000 | $2,560,000 | $2,560,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.375% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.821% | 6.474% | 6.036% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $14,535 | $15,971 | $21,430 |
Total Monthly Payment | $14,660 | $16,096 | $21,555 |
* 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.