***Attention All Investors!*** Rare Opportunity to purchase A No board Approval Sponsor/Unsold shares Unit In Gerard Towers. It's Like Buying a Condo at A Co-op Price! The new owner can purchase it with out board approval, and can continue to sublet indefinitely with out board approval, as long as the new owner or their family do not reside in it. It's a ready made investment. The current tenant has a 2 year lease. Enjoy Spectacular Forest Hills Gardens and Lower Manhattan Views from this True Corner Jr-4 with balcony. The South and South East exposures offer plenty of natural sunlight throughout this residence, the updated Eat-In-Kitchen offers a double window. the formal dining room with a closet that can be very easily converted to a second bedroom, there's beautiful parquet floors throughout and ample closet space. The Stylish Modern new Lobby has been completed, and Trader-Joe's opened up right across the street. Gerard Towers is a 25 story fire-proof high-rise building located around the corner from trendy Austin Street. The building offers a 24 Hour Doorman, seasonal heated pool and saunas, fitness center, private backyard garden with seating, children's play room, bike & storage rooms and immediate valet parking. There's an Express bus to midtown at the front door, and it's just steps to the express E & F subway (71st / Continental stop), & the LIRR, as well as The West Side Tennis Club. Gerard Towers is a cat friendly building.
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Our Executive Mortgage Banker:
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$649,000
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 | $519,200 | $519,200 | $519,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.498% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,454 | $3,451 | $4,452 |
Total Monthly Payment | $3,546 | $3,543 | $4,544 |
* 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.