A special opportunity to create an iconic private residence atop an operating retail business, own an existing income-producing mixed use asset, or build a grand single family mansion - in the heart of one of the city’s most rapidly evolving destinations. 115 South Street’s history as a ship house circa 1840 is present throughout the building’s existing fabric, with exposed timber columns and beams as well as exposed brick walls and skylights creating irreplaceable moments. Measuring 13, 119 square feet in total and spanning 37 feet in width, this piece of New York history is awaiting its next chapter. Currently configured as a dream penthouse 2-bedroom, 1. 5 bathroom loft with 14-foot pitched ceilings atop six half-floor rental apartments and a gracious ground floor retail space, opportunity exists to expand your residential footprint substantially for trophy use while enjoying income from the remaining units below. Additional FAR can be deployed with LPC approval for a rooftop addition to create more interior living space with river and Brooklyn Bridge views, if desired. 115 South Street is in the heart of the Seaport district, a neighborhood whose history spans nearly four centuries. Originally a port for the Dutch West India Company, it has evolved over the years into one of the city’s most vibrant and historic destinations. Today, original facades and cobblestone streets remain, housing a mix of restaurants, bars, shops, and cultural sites including Jean Georges' Tin Building and Pier 17. Sited at the edge of the East River, enjoy waterfront lifestyle with spellbinding views and easy access to Brooklyn via ferry service.
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$14,950,000
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 Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $11,960,000 | $11,960,000 | $11,960,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.250% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.821% | 6.396% | 5.990% |
Monthly Tax Payment | $9,887 | $9,887 | $9,887 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $67,908 | $73,640 | $99,317 |
Total Monthly Payment | $77,920 | $83,652 | $109,329 |
* 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.