Are you looking for an investment property at an amazing price with upside potential? Look no further! Residence 3L at 1400 Fifth Avenue is a sun-filled, south-facing two bedroom, two bath home in a full service condominium with oversized living and separate dining area. All rooms face south and overlook peaceful building gardens. The modern, updated kitchen features a bar-height pass-through to the dining area and modern white cabinetry, granite countertops, new oversized stainless steel sink, upgraded lighting, beautiful new ceramic tile floors. The primary bedroom has a large ensuite bathroom and the second bath is in the hallway adjacent to the second bedroom. Both bedrooms can easily accommodate a king-sized bed, This move-in ready home has been freshly painted to match the newly installed floors throughout the apartment. 1400 Fifth Avenue is one of NYC's first green buildings. This pet-friendly condominium offers excellent amenities including a full time doorman, live-in super, a beautifully-landscaped private courtyard garden, a newly refurbished community room, a children’s playroom, private storage, bike storage, and laundry rooms on all floors from the third floor up. The building allows parents buying for kids. There is also a parking lot with deeded spaces. Nestled between Central Park, Morningside Park, and Marcus Garvey Park, there are recreational facilities in close proximity. One block to the 2 & 3 express trains and close to the 6, B, and C lines add to the desirability of this central location. In addition to the # 116 and # 102 and the #1 Fifth Avenue bus lines right on the corner, the # 7 is just one block away, allowing for easy access to central business locations and the Harlem shopping hub on 125th Street which includes Whole Foods, Marshall’s and the legendary Apollo Theatre. Enjoy music in some iconic local restaurants including Red Rooster, Sylvia’s, Settapani, and Lido. Nearby recreational facilities include The Conservatory Gardens and the rustic North Woods in Central Park. A state-of-the-art recreation center is nearing completion which will contain an Olympic-sized swimming pool for recreational and competitive events, as well as a skating rink and other features for competitive sports enthusiasts. Directly across the street from Central Park is The Museum of the City of New York and Mt. Sinai Hospital. Keep in mind the HDFC income requirement: the gross annual income for all occupants may not exceed $333, 500. Additionally, the property benefits from a tax abatement which expires in 2032. There is a 3% flip tax, paid by the buyer.
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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 | $640,000 | $640,000 | $640,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.296% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,258 | $4,254 | $5,397 |
Total Monthly Payment | $4,350 | $4,346 | $5,489 |
* 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.