*Photos are virtually rendered - Approximately 4850 sq. ft. - Full Floor Apartment with Private Vestibule - High Ceilings - 13 to 10 Gracious Rooms - 4 to 5 Bedrooms, 5 to 6. 5 baths possible - Alternative Layouts Available - Pets Allowed - Pied-a-Terre Allowed - Storage Available Not for purchasers with no or little imagination. This sprawling full-floor unit has not been renovated for decades. Still, the layout easily evokes the bygone time in New York history when one had weekly catered dinners wherein dignitaries, the intelligentsia, the socialites, and the philanthropists mingled freely to discuss issues of the day. From the roaring Jazz Age to the swinging “disco fever” 70s, to the punk rock culture of the 80s and 90s, one can visualize how the gracious rooms of this incredible apartment could have accommodated all effortlessly. Even after years of vacancy, one can still feel the joie de vivre that flows from room to room. Originally 13 rooms converted into 10, the residence offers the new owner a chance to create four, five, even six bedrooms without taking away from or substantially limiting the entertaining space! Current layout: The elevator opens onto a private vestibule that offers both security, privacy, and practicality. Proceeding further, one finds a spacious gallery and corridor with an expansive display wall that’s an art lover’s dream. Here, one also gains access to key service, entertaining, and living areas. The bright corner living room, facing north and east, is truly a grand salon. Nearly 550 square feet with a wood-burning fireplace, it offers plenty of room for multiple seating arrangements perfectly suited to today’s style of entertaining. The adjoining formal dining room is nearly 400 square feet. That’s more than enough for a large gathering of family and friends AND social distancing, whether you have to or you simply want to (almost everyone has a weird cousin. . . ) The windowed kitchen efficiently consists of a main working area plus a breakfast area or butler’s pantry, The rooms that follow were originally four maid’s rooms that are currently a staff room, a mechanical room (for HVAC), and a media room. Across the hall facing Park Avenue are the living room, library with bath, two supplemental bedrooms, and baths. Rounding it off is an enormous primary bedroom with an insane amount of closets, a dressing room/gym, and two primary baths. The current floor plan shows west-facing windows that are currently covered but can be restored. This grand residence is not for everyone. It is for a purchaser who is looking for a special project, who can get past the aesthetics, who can see the brilliant sparkle on a diamond that has just been unearthed. Bring your architect. Bring your contractor. But most of all, bring your passion. Because that’s what will make this amazing space truly magical. Built-in 1925, 510 Park Avenue is a premiere cooperative originally built by Starrett Brokers and designed by F. H. Dewey & Company. With only 26 residences, it is considered boutique by New York standards. The co-op features a fitness center and bicycle room. Located just at the cusp of the Upper East Side, it is ideally located near the best-established restaurants, galleries, and boutiques in New York as well as the flagships of the biggest global fashion and jewelry brands. It is a stone’s throw away from Central Park, and a flaneur’s delight.
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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 | $4,796,000 | $4,796,000 | $4,796,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.375% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.821% | 6.474% | 6.036% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $27,231 | $29,921 | $40,148 |
Total Monthly Payment | $27,356 | $30,046 | $40,273 |
* 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.