111 East 61st Street represents the rare opportunity to acquire a grand and spacious townhouse, with flexible use options. The building has a width of 19 feet on a 100 foot lot, and is built 9, 500 square feet, and the grandiosity and location of the building make it ideal for a foundation, private office, private gallery, or residential conversion. Most recently, it was used as office space for the owner's company, but buyers should perform their own zoning diligence for use. The neo-Georgian house was originally built in 1910 and is marked by its stunning brick facade, stone cornice above its main door, and location just off of Park Avenue and East 61st Street. Enter on the garden level to a mahogany entrance area that presents a winding, wooden staircase up to the second floor. Also on the garden level is a large conference room, full kitchen, and primary-sized bedroom with en-suite bath. The extension on the building is large and wide, and extends to the top of the house. On the second floor the ceilings are very high and there are two powder rooms as well as a full kitchen. The third and fourth floors were most recently leased as offices, but currently vacant. There is an additional renovated kitchen on the third floor, a renovated powder room, and two planted outdoor terraces, as well as an additional large terrace off of the back of the fourth floor. The fifth floor is leased to a residential tenant (month to month), and spans the entire top floor, with a beautiful south facing terrace. galley kitchen, full bathroom, large primary suite with fireplace, and extension, currently utilized as a children’s room. The roof, facade and mechanicals are in excellent condition. Offered for an incredibly low price per square foot for such a prominent building, and a smart investment for any investor or end user.
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Our Executive Mortgage Banker:
Our Insurance Division:
$9,995,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@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 | $7,996,000 | $7,996,000 | $7,996,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.750% | 6.500% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.844% | 6.597% | 6.158% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $46,662 | $50,540 | $67,475 |
Total Monthly Payment | $46,787 | $50,665 | $67,600 |
* 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.