FULLY renovated bright, sun-filled oversized alcove studio which can easily be converted to a ONE bedroom is located in a full-service 24-hour doorman Coop in the heart of the Upper East Side. (PLEASE read full description!) -- The spacious living area can easily accommodate a dining table and home-office setup. The alcove is large enough for a queen size bed with nightstand(s) and the wall of windows allows for excellent natural light throughout the day with an open view. -- The renovated kitchen features brand new stainless-steel appliances including a 24" built in microwave, Quartz countertops, a large pantry closet and 2 Lazy Susan's. -- The bathroom is stylishly renovated and includes 2 storage cabinets, and a large closet. Additional features: Updated electrical throughout, new plumbing, S/E exposure, an abundance of 5 closets with storage above; sanded and stained parquet wood floors in a walnut finish, new light fixtures and freshly painted. You can move right in! Regarded as one of New York City’s best LAND LEASES, the terms are locked in for the next 99 YEARS with an ongoing monthly special assessment of $697. 56 which is paid towards the ground lease. 70% financing allowed and the building has a significant TAX DEDUCTIBLE due to it being a land lease. Centrally located at the corner of 61st & Lex on a beautiful tree-lined block, enjoy incredible access to numerous bus routes and subways including the N/Q/R/W/4/5/6/F trains. Central Park, Bloomingdales, Fifth Avenue shops and incredible restaurants and nightlife are all at your doorstep. Not to mention Trader Joe’s and Whole Foods are nearby as well. The building allows pieds-a-terre, co-purchasing, gifting, foreign buyers and parents purchasing for children with board approval. Subletting: Leases are allowed after a year of ownership and is limited to 2 years. The building Flip tax is 3%.
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Our Executive Mortgage Banker:
Our Insurance Division:
$420,000
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $336,000 | $336,000 | $336,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.563% | 7.159% | 6.276% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,235 | $2,233 | $2,834 |
Total Monthly Payment | $2,310 | $2,308 | $2,909 |
* 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.