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This approximately 3/4-acre residential lot, situated in the heart of downtown Westbury, is located within the Transit-Oriented Development (TOD) Zone (as defined by the Incorporated Village of Westbury website). Positioned directly across from the LIRR mainline, this lot offers exceptional potential for the development of housing, capitalizing on its proximity to public transportation and major roadways. Directly across from the Long Island Rail Road (LIRR) mainline, providing convenient access for commuters and perfect for "workforce housing development". Located near major roadways, including the Northern State Parkway, Wantagh Parkway, Meadowbrook Parkway, and the Long Island Expressway, facilitating easy travel throughout Long Island and beyond. Westbury is a hub for interstate commerce, with 24-hour railroad service and easy connections to key business centers. A short distance to shopping centers, food stores, hotels, colleges, and courthouses, offering residents easy access to essential services and attractions. With growing demand for affordable housing in well-connected areas, this lot is perfectly suited for the development of workforce housing, offering an ideal living environment for commuters and professionals. Zoned for residential use within the TOD Zone, providing flexible options for higher-density housing development and contributing to the continued growth of the area. This property offers a rare opportunity to develop in one of Westbury’s most desirable locations with excellent access to transportation, services, and amenities. Don't miss the chance to invest in the future of Westbury.
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Our Executive Mortgage Banker:
Our Insurance Division:
$4,985,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $3,988,000 | $3,988,000 | $3,988,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 4.750% | 5.625% | 5.375% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 5.878% | 5.732% | 5.555% |
| Monthly Tax Payment | $3,279 | $3,279 | $3,279 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $20,803 | $22,957 | $32,321 |
| Total Monthly Payment | $24,207 | $26,361 | $35,725 |
* 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.