RIVERSIDE PARK BLOCK BEAUT! In the late 19th century, architect George Pelham designed 311 West 78th Street as part of a row of four houses. Pelham was a well-known Manhattan architect, responsible for some of the city’s most iconic buildings. 311 West 78th is a striking 18-foot-wide Renaissance Revival townhouse with approximately 5, 000SF of interior square footage, spanning five stories with a façade primarily made of limestone, accented with terracotta and Roman brick. Situated on an 18’x72’ footprint on a 100’ lot, the home sits on the north side of West 78th Street, between West End Avenue and Riverside Drive. The building is currently divided into five separate units, including an owners duplex with private garden, one floor-through one bedroom one bath, two studios on the fourth floor, and one rent stabilized studio on the fifth floor. Three of the five homes are occupied, with two leases expiring in 2025. GARDEN LEVEL AND SECOND FLOOR DUPLEX (Unit 1): The owner’s duplex includes a private garden, with a one-bedroom, one-bath layout on the first floor, and a skylit eat-in kitchen and dining area below. Just off of the eat-in-kitchen is the homes private garden which measures 31'×19' with ample space for summer time enjoyment. A spiral staircase connects the two floors, leading to a grand second-floor space. This floor features a large primary suite with original plaster ceiling details, a luxurious en-suite bath with a soaking tub, and an expansive sitting room on the opposite end of the floor. The second floor has tremendous ceiling height of 11’2”. THIRD FLOOR (Unit 2): A spacious free-market apartment with a large sitting room, plenty of closet and wall space, and a central kitchen outfitted with custom cabinetry, modern appliances, and in-unit laundry. The oversized bedroom at the rear of the unit, with original molding, custom armoires, and hardwood floors, feels like a Parisian retreat. The en-suite bathroom adds a nice extra touch. Ceiling height is 10’3”. FOURTH FLOOR (Units 3 and 4): Two studio apartments occupy this floor and ceiling height is 9’6”. One faces south, featuring original hardwood floors, a kitchenette, and a bathroom. The other is a standout unit with exposed brick, wood-beamed ceilings, and a private terrace. Unit 3 is currently rented at market rate, while Unit 4 is unoccupied and used by the owner. FIFTH FLOOR (Unit 5): Rent stabilized studio apartment with 8 foot ceilings. CELLAR: Ceiling height of 7’8” spanning the entire length of the building. The cellar is incredibly clean and well maintained and houses the buildings sprinkler system, building mechanicals and has additional storage The owner, who has lived here for over 40 years, has lovingly maintained the property, with recent upgrades including new thermostats, a new boiler, and water heaters. Showings are by appointment only.
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$4,995,000
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 | $3,996,000 | $3,996,000 | $3,996,000 |
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 | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $22,376 | $24,280 | $32,916 |
Total Monthly Payment | $22,501 | $24,405 | $33,041 |
* 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.