Unleash the Full Potential of a Penthouse Gem at 1 Gracie Terrace Nestled at the prestigious intersection of East End Avenue and East River Drive, 1 Gracie Terrace presents an extraordinary opportunity to create a showstopping penthouse in one of Manhattan’s most sophisticated and exclusive enclaves. Located on a serene cul-de-sac in the Upper East Side, this residence offers boundless potential for a discerning buyer with vision and a keen eye for design. Perched atop a distinguished co-op, this expansive 3100+ sqft home (2141 sqft interior + 962 sqft exterior) boasts an incredible wraparound terrace, offering breathtaking panoramic views of the East River and city skyline. Imagine transforming this outdoor sanctuary into an entertainer’s dream—complete with lush landscaping, elegant seating areas, and seamless indoor-outdoor living. Inside, the spacious floor plan offers three bedrooms and three bathrooms, providing ample space for luxurious living. The third bedroom is a versatile space, perfect as a home office or guest suite. Picture soaring ceilings, custom millwork, and designer finishes tailored to your unique aesthetic. The Primary Suite offers generous proportions, immense closet space, and an oversized en-suite Bathroom. The secondary Bedrooms, including a flexible home office or third bedroom, can be reconfigured to suit modern luxury living. An in-unit washer/dryer adds an extra level of convenience. The Kitchen is renovated with custom cabinetry, state-of-the-art appliances, and sleek finishes, but offers further possibilities for expansion and reinvention. This full-service, pet-friendly cooperative offers a suite of luxury amenities, including: • A spacious, fully equipped gym, available free of charge to shareholders • A 24-hour doorman, full-time porter and live-in resident manager • A courtyard seating area for residents to unwind • A bike room and on-site garage (additional charge) for convenience • Laundry facilities in the basement • Additional storage cages for residents • Newly redecorated hallways and upgraded elevators that elevate the building’s elegance Set just moments from the charming Carl Schurz Park, the East River Promenade, and the finest dining and cultural institutions of the Upper East Side, this location offers a rare blend of tranquility and urban accessibility. The building permits pied a terres and co-purchasing. There is a 2% flip tax payable by buyer. Some photos are virtually staged.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,750,000
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 |
|
---|---|---|---|
Loan Amount | $1,400,000 | $1,400,000 | $1,400,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.625% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.614% | 6.727% | 6.183% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $7,949 | $8,964 | $11,814 |
Total Monthly Payment | $8,074 | $9,089 | $11,939 |
* 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.