Glen Head, NY, 11545 | $12,000,000

Glen Head Commons is a rare, fully approved shovel-ready new residential development opportunity in the heart of Glen Head, NY within the Town of Oyster Bay, one of Long Island's most desirable North Shore communities in Nassau County. Situated on 7. 7 acres, the completely flat site is ideally located close to town amenities and nearby to the Glen Head Long Island Railroad Station. The subject property falls within the North Shore School District, including Glen Head Elementary, and has very close proximity to the North Shore Middle School and North Shore High School, plus numerous private school options nearby. The property is fully approved for total 53 residential units, thoughtfully designed to blend seamlessly into the surrounding neighborhood. The approved site plan consists of 15 single family residences and 38 townhomes. Glen Head offers a classic North Shore of Long Island lifestyle characterized by strong community identity, tree-lined streets, and proximity to beaches, marinas, parks, town shops, a variety of food options and village centers. The location provides outstanding regional connectivity, offering exceptional transit-oriented appeal just 26 miles from Manhattan and LIRR train access to both Penn Station and Grand Central in about an hour to New York City plus easy access to major roads and multiple international airports. With all approvals in place and utilities accessible, including sewers available, Glen Head Commons represents an exceptional opportunity to deliver high-quality for-sale housing in a supply-constrained, North Shore market. Buyers to verify all information and process to further develop this land parcel including physical improvements such as new road and utilities. The most ready to go new residential development in the immediate area and a truly exciting prospect not seen in over 40-50 years here.

Features

  • Lot Desc: Cleared, Level, Near Public Transit, Near School, Near Shops, Private, See Remarks
  • Elem. School: Glen Head Elementary School
  • Middle School: North Shore Middle School
  • High School: North Shore Senior High School
  • School District: North Shore
  • MLS#: 954864
  • Days on Market: 1 day
  • Website: https://www.raveis.com
    /prop/954864/_glenhead_ny?source=qrflyer
Listing information has been assembled from various sources of varying degrees of reliability. Any information critical to the buying decision should be independently verified.Listing courtesy of Compass Greater NY LLC   Phone: 516-517-4751

William Raveis Family of Services

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Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 81725

203.980.8025

Frank.Kolb@raveis.com

Our Executive Mortgage Banker:

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Glen Head, NY, 11545

$12,000,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Frank Kolb

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 $9,600,000 $9,600,000 $9,600,000
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 N/A N/A N/A
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $50,078 $55,263 $77,805
Total Monthly Payment $50,203 $55,388 $77,930

* 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.