A very warm welcome to 296 Park Place, a bona fide 4-bedroom, 4-full bathroom, 2-half bathroom, 3, 804 interior square foot, two-family brownstone at the nucleus of flourishing Prospect Heights and nestled on a bucolic block. Each unit within the property is its own two-story duplex, making the entire building structure four stories plus a basement. This property beckons to owner-occupant end buyers yearning for a cosmopolitan lifestyle and who also want to take full advantage of the rich history and diversity that this community has to offer. Tantamountly, this property also appeals to savvy investors who understand the massive return on investment they will reap from restoring this property to its original pre-war charm. The piece de resistance of this home is that each and every bedroom has its own ensuite. The property flaunts some equally notable features; Both levels of unit one are central air conditioned-being outfitted with an HVAC system makes expanding the cooling feature to other levels relatively seamless. The hot water tank is less than a year old, boiler five years old, washer three years old and dryer three years old but never used. When considering potential rental income, each unit is housed with its own electric and gas meters. There is also a skylight on the upper level of the second-floor unit that bathes that space in organic lighting. On the same level, there is a massive hallway walk-in closet with ample storage as well as the additional, versatile hallway alcove that can serve as a reading nook, sitting area or efficient office space. The property, in its entirety, is replete with storage. The new owner will have carte blanche designing the full basement with its high ceilings and open layout. The backyard is also a visionary's playground-the capaciousness lends itself to creating an outdoor esplanade fit for al fresco dining. Equally covetable is the property's surrounding area with some of Brooklyn's most renowned landmarks: Grand Army Plaza, Brooklyn Public Library, Grand Army Plaza's year-round Greenmarket at the Soldiers and Sailors Memorial Arch, Brooklyn Botanic Garden, Brooklyn Museum, Prospect Park & Zoo and of course, the world-famous Barclay Center. The amalgam: a desirable brownstone and encompassing shopping, fine dining, recreation and nightlife aplenty, makes this property among the best that Prospect Heights has to offer in any market, but especially a profoundly low inventory one.
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William Raveis Mortgage, LLC
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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 | $2,240,000 | $2,240,000 | $2,240,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.625% | 6.500% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.955% | 6.612% | 6.182% |
Monthly Tax Payment | $1,045 | $1,045 | $1,045 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $12,895 | $14,158 | $18,902 |
Total Monthly Payment | $14,065 | $15,328 | $20,072 |
* 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.