High Visibility Downtown Retail Unit Available. This shell space, being constructed now, is located on the high-visibility downtown intersection of Elm Street and Bridge Street, next to the Lamont-Hanley pocket park. The building is the historic New City Hotel (Former Lamont-Hanley Building), being entirely reimagined as thirty-six residential units and one storefront. The storefront has significant window frontage to Elm, and entry off a shared foyer. Current plans call for approximately 760sf of first-floor customer facing space with a dedicated bathroom. There is also a lower level, non-customer facing storage room or other space totaling approximately 570sf. There is elevator service between the two spaces, in addition to two stairwells. First floor is walk-out to Elm Street, lower level walks out to a right of way to Bridge Street. Options for customization available. All specs and building details are preliminary only and subject to change during construction. Build to suit available. Terms and inclusions negotiable to the needs of the commercial tenant. Base pricing $18 per sf, annually.
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $14 | $14 | $14 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.655% | 7.146% | 6.276% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $0 | $0 | $0 |
Total Monthly Payment | $75 | $75 | $75 |
* 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.