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NEW YORK'S BEST PIED-A-TERRE STRUCTURE. Buy at the Ritz-Carlton NoMad for the ideal ownership setup: have a pied-a-terre in New York, limited to 120 days of use per year, and put the property into the Ritz's hotel pool for the remaining days, while enjoying a revenue share of the profits. Ownership use is limited to 29-day consecutive periods and a total of 120 days per year. The building has legally circumvented local AirBnB laws and expertly markets and advertises to achieve some of the highest nightly rental rates in the city. Perched about 500 feet above New York's NoMad and sitting above a five-star hotel, PH42B is one of only sixteen residences designed by world-renowned architect, Rafael Vinoly. This home has quite literally some of the best downtown views in the entire city, and an owner gets to enjoy all-day light, exquisite finishes, five-star services and unrivaled amenities. Inside the residence is a Poliform kitchen with honed quartzite countertops and backsplash, bronzed cabinetry with LED lighting, and integrated Miele appliances. The ceilings are ten feet high and the apartment is accentuated by stunning white oak floors and custom millwork. The primary bath has Bardiglio Nuvolato marble walls and floors, a terrazzo sink, acid-etched glass shower and water closet enclosures, and a Duravit soaking tub. The apartment is completely furnished and will come outfitted with every accessory provided by the Ritz. Michelin-starred and twice named to Time’s “100 Most Influential People”, Chef José Andrés will curate the in-residence cuisine, as well as operate two of his most celebrated restaurants – Zaytinya and The Bazaar within the hotel. The hotel offers a dedicated, state-of-the-art wellness floor – inclusive of the renowned Ritz-Carlton Spa – the Ritz-Carlton Club Lounge, several event spaces and business services, as well as one of the highest bars downtown with 360 degree views, a ~ 3, 000 SF event terrace and a range of meticulous à la carte services and exceptional amenities available at your disposal.
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Our Executive Mortgage Banker:
Our Insurance Division:
$4,500,000
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 | $3,600,000 | $3,600,000 | $3,600,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.625% | 6.625% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.663% | 6.751% | 6.309% |
Monthly Tax Payment | $1,841 | $1,841 | $1,841 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $20,724 | $23,051 | $30,623 |
Total Monthly Payment | $22,690 | $25,017 | $32,589 |
* 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.