Located between Park and Lexington Avenue is an opportunity to own a quintessential New York City townhouse. Upon entering the townhouse, you are greeted by a beautiful foyer which flows seamlessly into the living and dining room spaces. Oversized windows and tall ceilings create a loft-like feel on the parlor floor. As you continue through the kitchen, you will find an atrium and enclosed backyard. An ideal space for entertaining.
The second and third floor consists of eight bedrooms, five full bathrooms, an office and a kitchenette on each floor. In the basement, you will find a laundry facility, an additional bedroom and three additional rooms for storage.
Built in 1890, this townhouse features many original details which include crown moldings, exposed brick walls and well-maintained hardwood floors. The buildings boiler, water system and electrical have all been updated in recent years. Located within close proximity to the 6 train and Mount Sinai Hospital, this opportunity is perfect for an investor, single family end user or owner-occupier. The property is registered as a three-family residence and currently configured as an SRO. The property will be delivered vacant.
With the recent unprecedented rate cut by the Federal Reserve, banks have been inundated with people looking to take advantage of lower interest rates. Because of the overwhelming demand, we have not yet seen a huge reduction in mortgage rates. While we aren’t there yet, it is likely that we will see a dramatic shift in the upcoming months, which raises the question, “What does a 1 point difference in interest rate do for my bottom line?”Read more