Grab the opportunity to own this sprawling 5 acre property In this prime Catskills location with services year-round, just 2 miles from exit 107 off Rt 17 across the HCS Resort (formally Raleigh hotel) next to Venetian Villas. Restore the Mountain Pine Motel to it’s former charm, 3, 700 sq. ft. per floor, 1st floor has small indoor pool, library and 9 bathrooms. Also has a commercial kitchen, 3 large rooms app. 16' X 22' and 3 regular rooms. 2nd floor has 14 rooms each room includes a full bath and small kitchenette, with outdoor pool. Property backs up to Kiamesha Creek with a beautiful relaxing waterfall. Was approved for an extension of additional 14 suites in the past. Currently owned by a congregation, most recently used as a school. Perfect for camps/motel. Create your own dream haven or possibly subdivide/develop. . currently tax exempt.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,039,200 | $1,039,200 | $1,039,200 |
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 | 6.748% | 6.474% | 6.036% |
Monthly Tax Payment | $400 | $400 | $400 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,900 | $6,483 | $8,699 |
Total Monthly Payment | $6,425 | $7,008 | $9,224 |
* 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.