New York (Carnegie Hill), NY, 10128 | $8,000,000
Opportunity knocks! 1289 Madison Ave is a 5 story, mixed-use building, with 6 units in the heart of Carnegie Hill's Historic District. Situated on bustling Madison Ave, just off East 92nd Street. Enjoy the exceptional transportation & conveniences. A plethora of incredible independent restaurants, cafes, and bars nearby. Just blocks away from Central Park, Frank Lloyd Wright's Guggenheim Museum and Museum Mile. Close to the crosstown M96 bus, 4, 5, 6 & Q trains.
1289 Madison Ave is perfect for an investor or end-user alike. As an end-user, this is an opportunity to run your own business out of one of the commercial spaces and live in the penthouse above.
Large, new condo developments in the area will bring the desired foot-traffic for the ground floor commercial tenant.
BUILDING
This pre-war building is made up of 2 commercial spaces and 4 residential apartments. All units are free market and have been well maintained and cared for by the current owners.
1st Floor: Commercial space; Occupied by Rosa's Pizza, with over 1, 200 sq ft, kitchen, storage, cellar. Note: Photos are of previous business.
2nd Floor: Commercial space; Currently occupied by an art school, with a lease through January 2027.
3rd Floor: Residential; Large, recently renovated, 3 bed, 1 bath apartment with outdoor space. Sun-filled, with eastern and western exposures. Open kitchen with stainless steel appliances, full gas range stove and a dishwasher. The primary bedroom fits a king-sized bed and leads to the extraordinary private terrace. Tons of storage and hardwood floors through the apartment.
4th Floor: Residential; Comprised of 2 units; 1-bedroom apartment and a studio. Each of these units have been recently renovated and are filled with great natural light. Open kitchens with stainless steel appliances, including gas ranges stoves and dishwashers. The 1-bedroom unit also has a private balcony. Beautiful hardwood floors throughout and decorative fireplace in each unit.
5th Floor: Residential; Top floor is currently configured as a 2 bedroom apartment. Awash in sunlight from the western and eastern exposures. Open kitchen, with skylight & dishwasher. Primary bedroom fits a king-sized bed. Large, windowed bathroom. Beautiful decorative fireplace and hardwood floors throughout.
Monthly Rent Roll:
1st Floor (Pizzeria): $15, 000 + Portion of real estate taxes; May 2029
2nd Floor (Art school): $7, 500 + Portion of real estate taxes; Lease ends January 2027
3rd Floor (3 bedroom): $4, 995; Lease ends March 2025
4th Floor (1 bedroom): $2, 995; Lease ends February 2025
4th Floor (studio): $2, 495; Lease ends May 2025
5th Floor (2 bedroom): $3, 995; Lease ends February 2025
Monthly Rental income: $32, 985
Features
- Town: New York
- Cooling: Other
- Levels: 5
- Rooms: 15
- Bedrooms: 8
- Baths: 6 full
- Laundry: Building None
- Approx Sq. Feet: 5,000
- Pet Policy: Building No,No
- MLS#: RPLU-771023312953
- Days on Market: 1 day
- Website: https://www.raveis.com
/prop/RPLU-771023312953/1289madisonavenue_newyork_ny?source=qrflyer
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.Listing courtesy of POLJAN PROPERTIES INC Phone: (718) 484-4776
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NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.DeFlorio@Raveis.com
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New York (Carnegie Hill), NY, 10128
$8,000,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah DeFlorio
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@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 | $6,400,000 | $6,400,000 | $6,400,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.875% | 6.500% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.820% | 6.597% | 6.158% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $37,858 | $40,452 | $54,007 |
| Total Monthly Payment | $37,983 | $40,577 | $54,132 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
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