The offering of 241 East 48th Street is the singular confluence of all of a Manhattan townhouse buyer's dreams. A house steeped in rich history, located in a well-respected and often-envied location, with a level five gut renovation, and barely lived in, is unparalleled in the current marketplace. This house must be seen to be believed, so please reach out to set up a showing! The home is located in the esteemed Turtle Bay Gardens, a storied group of twenty townhouses surrounding a shared, manicured garden. These homes were initially renovated to have all major rooms facing the garden, and now 241 has been completely reimagined for the modern era. Through a multi-year, Landmarks-approved restoration and renovation, the house has been expanded size wise to reveal its maximum potential, and completely rebuilt with an eye towards the finest materials and finishes. All finish materials were custom crafted by artisans in Portugal and shipped into New York for installation. The result is an approximately 5, 500 square foot, 20' wide Georgian townhouse, ready for its lucky new owner-- offered at well below replacement value. With everything thought through, a new owner need not touch a thing. There is a hydraulic elevator, full smart home and security system, and the structure of the house was reinforced throughout with steel, leading to no sound of creaks. The air system is humidity-controlled and zoned by room, offering the highest level of comfort year round. Each double-hung window was replaced and holds custom, electric shades that are individually controlled. A tour through the house reveals the level of detail the owner took on the renovation: wainscoting, custom stone, and beautiful design abound, resulting in a house that is more a work of art than real estate. Ground level: Enter through a securitized foyer to an open-plan kitchen with waterfall island and chef's appliances. This floor has a built-in dining banquette for breakfast or more casual dining, an elegant seating area around a gas fireplace, and one of the most stunning formal dining areas towards the rear of the home. A feat of architecture, the home was expanded back and shrouded in a glass skylight and wall, which creates 20' ceilings on the ground level and significant light to enjoy the feel of the Turtle Bay Gardens. Also on this floor is a powder room for guests, access to the cellar level, and entry storage. Parlor level: Also enjoying a mezzanine view down to the skylight, this elegant floor is a more formal living area with another gas fireplace and a built-in library wall. Third level: The current design raised the primary bedroom well far from street level, and thus the first floor of bedrooms is on three. There are two full-width, en-suite bedrooms with expansive, customized closets. One enjoys the southern light over 48th Street while its twin enjoys serene views and exposure over the gardens. Fourth level: The fourth level is the primary suite, occupying the entire floor. The primary bedroom is north-facing over the garden and connects through an enormous walk-in closet to the full-with primary bath. The bath has a soaking tub, double vanities, water closet, and stall shower. Fifth level: The top level has the feel of a lofted penthouse, is entirely open and bathed in light. There is a full bathroom with a kitchenette, ideal for use as a guest area. The ceilings climb in height, rare for a townhouse's top floor, and there is a terrace overlooking the garden. Cellar level: The cellar was excavated and finished, and has an entertainment room or gym, full bathroom, state of the art mechanical room, and vented laundry. Turtle Bay Gardens is historically a home to intelligentsia and the artistic; previous residents include Stephen Sondheim, E. B. White, Bob Dylan, and Katherine Hepburn. Located ideally between Midtown and the East River, the location is remarkably convenient and international, and the gardens themselves are a unique oas
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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 | $10,320,000 | $10,320,000 | $10,320,000 |
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 | $58,596 | $64,383 | $86,391 |
Total Monthly Payment | $58,721 | $64,508 | $86,516 |
* 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.