ESTATE SALE — Offered is an exceptional 7, 500 SQFT DOUBLE LOT with 5, 625 SQFT of buildable FAR, located just steps from the water and offering beautiful views (including water views). BACK ON THE MARKET. This serene property presents extraordinary potential and undeniable value. Opportunities of this size are exceptionally rare on City Island, made even more compelling by its prime Bay Street location, with private beach access. Do not let the current footprint deceive you — this home feels spacious, airy, and contemporary. The layout features three generously sized bedrooms, a large living room with bay windows and lovely water views, and an open-plan kitchen ideally suited for transformation into a chef’s kitchen. The adjoining bright and spacious dining room opens directly onto a large deck, creating an ideal setting for indoor-outdoor entertainment. The potential is substantial; envision a second-story addition with sweeping water views, an additional deck, and even the possibility of a pool beneath the beautiful mulberry tree (inspirational only; all plans subject to DOB approval). Not included in the square footage is a full basement with high ceilings, along with a finished den—perfect as a family room, home office, or guest suite—with the opportunity to add a full bathroom. Estate sale — sold as is. Additional Highlights: • Low annual taxes: $7, 013 • No flood insurance required • Central HVAC • Hardwood floors • Private driveway Contact the listing broker directly for additional information or to schedule a private showing. A walk-through video is available upon request. _______________________________________________________________________________________________________________ The City Island Lifestyle City Island is a rare coastal enclave within New York City — a close-knit village known for its yacht clubs, private beaches, art galleries, boutique shops, and celebrated waterfront dining. Residents enjoy: • A true beach-town atmosphere • Low taxes with full city services • Easy access to Manhattan by car or public transportation • Local amenities including a library, post office, galleries, cafes, restaurants, and P. S. 175 City Island School • A vibrant boating, social, and cultural community It’s no surprise City Islanders rarely want to leave. (As featured in recent New York Times coverage: “City Island, Bronx — A Seaside Enclave Within the City. ”)
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Our Executive Mortgage Banker:
Our Insurance Division:
$893,000
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
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $714,400 | $714,400 | $714,400 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.125% | 6.000% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.021% | 6.110% | 5.932% |
| Monthly Tax Payment | $585 | $585 | $585 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,890 | $4,283 | $5,932 |
| Total Monthly Payment | $4,566 | $4,959 | $6,608 |
* 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.