Currently, this is a brick 2-family house. The condition is unfinished, and the owner lives in the basement with a 3-bedroom apartment. The goal is to demolish the house and build a 6-unit condominium project. The owner does not have any permits currently. The house next door was similar to the subject property and the developers are almost complete in building a 6-unit condo building.
1685 Eastburn Avenue, Bronx, NY, 10457
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The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) 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.
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