That is correct, for just $775, 000, you can purchase an 11th floor updated two bedroom apartment on 5th Avenue with a partial park view, East and South exposures and outstanding natural light in a full service building with the low maintenance of just $1, 544 a month.
When the current owners purchased unit 11M, it was an estate sale. They envisioned a home that would both accommodate the needs of a growing family while simultaneously serving as a comfortable and stylish place to host family, friends and clients. With help from friend and notable architect Christian Wassmann, this is exactly what was accomplished.
Just past the entry foyer, boasting two large built-in closets, is the common room. This area is comprised of a dining and living area that seamlessly flow into each other with a downtown loft-like sensibility. The far end of this room has a wall of windows that capture blue sky and amazing light all day long--not to mention a gracious side view of Central Park. To take full advantage of the park exposure, two mirrors have been strategically placed to flank the window to bring park greenery as well as sunrises and sunsets directly into this home.
The windowed kitchen is outfitted with high-end Miele and Bloomberg appliances. The counters are honed Carrara accented with a stainless steel backsplash. With the physical size limitations of the kitchen, the owners carefully considered the placement of the storage, appliances and sink to create maximum flow for those who enjoy cooking.
The bright South facing primary bedroom has two generous closets and can easily accommodate a king bed. This room also has stylish built-in book shelves and a desk that faces the window. The smaller second bedroom has East and South facing windows, a built-in closet and could also serve as an ideal home office.
When renovating, the owners updated the electric and put in light grey engineered wood flooring throughout. Every room has low built-in bookshelves that mirror the light grey floors. The bathroom is admittedly original, but in good shape. This home feels hip, cheerful and is ready for it's next chapter.
With Central Park's prized conservatory garden within steps of the front door, not to mention the ongoing transformation of the Lasker Rink and Pool site on the Harlem Meer-one of the most significant projects ever undertaken by the Central Park Conservancy, residents of 1270 Fifth avenue can truly claim one of the most magnificent parts of the park as their own front yard. This pet friendly COOP is fully staffed including a 24 hour attended lobby, live in super and live-in porters. There is large laundry room, a storage space THAT TRANSFERS WITH THE APARTMENT!!!, a bike room and an attached garage. There are new elevators and a recently renovated lobby. Pied-a-terre, and gifting is allowed. Sublets are permitted with board approval after two years of ownership. Flip tax is $25 a share paid by seller and 80% financing is allowed. Purchaser income to debt should not exceed 33%. This offering is a wonderful opportunity for anybody looking for a great 2 bedroom home--amazing price is just an added bonus.
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William Raveis Mortgage, LLC
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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 | $620,000 | $620,000 | $620,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.655% | 7.146% | 6.276% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,229 | $4,121 | $5,229 |
Total Monthly Payment | $4,321 | $4,213 | $5,321 |
* 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. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.