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LUXURY MEETS VALUE: AN EXCLUSIVE TURNKEY OPPORTUNITY AT THE RITZ TOWER 465 Park Avenue, 25EW - Demolished and Ready for Construction - As of June 7, 2024 - Pre-Construction Phase. Discover the pinnacle of luxury living with this unparalleled opportunity to customize this full-floor residence at the iconic Ritz Tower. This unique home comes with two private terraces and the potential to be transformed into a turnkey masterpiece, with an itemized breakdown of renovation costs available. Listed at $2. 5M, we have a compelling turnkey renovation bid at an additional $2. 53M, presenting a seamless transition to a bespoke living experience. This sun-drenched residence boasts four exposures—north, south, east, and west—providing breathtaking views from every angle. Featuring two private terraces and a private elevator landing, this space invites you to design your dream home with the potential for 2-3 generously proportioned bedrooms and 2. 5 bathrooms, tailored to your exact specifications. Situated on the 25th floor of the legendary Ritz Tower, this landmarked building offers unparalleled five-star services, including maid service, full-time doorman, concierge, valet service, a renovated fitness center, conference/party room, and a live-in superintendent. Enjoy the luxury of private dining, with lunch and dinner prepared by the Ritz Tower’s exclusive chef, served in your home five days a week. This cooperative permits 50% financing, pied-a-terre, and foreign purchasers. Utilities are included in the monthly maintenance fees, and small pets are considered with board approval. A 3% flip tax is paid by the purchaser. Located near Central Park, Madison Avenue boutiques, Bloomingdale's, and New York City’s finest dining establishments such as The Polo Bar, Avra Madison Estiatorio, and Daniel, this residence offers the ultimate in urban sophistication. Constructed in 1925, the elegant limestone-clad Ritz Tower was designed by Emery Roth and Thomas Hastings. At its inception, it was the tallest residential building in New York City, breaking new ground in architectural height and design. The Ritz Tower remains a testament to the transition in American architecture, blending classical style with unprecedented scale, and continues to be the epitome of urban living, as noted by architectural experts Robert A. M. Stern, Gregory Gilmartin, and Thomas Mellins.
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,500,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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 |
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---|---|---|---|
Loan Amount | $2,000,000 | $2,000,000 | $2,000,000 |
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 | 6.599% | 6.472% | 6.032% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $11,356 | $12,477 | $16,742 |
Total Monthly Payment | $11,481 | $12,602 | $16,867 |
* 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.