BRING YOUR ARCHITECT â a wonderful opportunity is available to renovate an oversized 1 bedroom / 1.5 bath cooperative apartment in 25 Sutton Place South.
Perched high up on the 20th floor with direct East River views this sun-flooded
residence enjoys both east and south exposures. The layout is functionally perfect.
You enter into a large foyer with powder room and large coat closet. The oversized living room measures 23' 2" x 14' 6"and can accommodate both living and dining.
There is a nice separation of space between the bedroom and living room as the bedroom is located at the end of hallway and this gives the bedroom lots of privacy. There are 5 oversized closets.
Grand in scale this home offers the new owner a comfortable lifestyle.
25 Sutton Place South - known as Cannon Point North and perched on the corner of East 56th Street and Sutton Place-is a full-service 21-story, 320-unit cooperative with 24-hour doorman and concierge services. Built in 1959 and designed by architect Paul Resnick, 25 SPS features a residents-only landscaped terrace overlooking the East River, as well as 2 laundry rooms and a gym (available for separate fee). The building also offers bicycle storage, additional private storage for rent and discounted on-site parking (all subject to availability). The maintenance for this cooperative is low given the size of this residence and includes utilities. Residents also enjoy access to a discounted cable/telephone/internet service. Pied-a-terre friendly, cats allowed, but no dogs. Capital assessment of $436.58 per month ending December 2020. Buyer pays a 2% flip tax. New owner will need to upgrade the windows per instructions from the cooperative.
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