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A rare opportunity to create a custom luxury residence in the prestigious Malba enclave. Situated on an oversized approximately 87' x 121' lot, this property offers the foundation for a truly exceptional home. The property is already prepared for redevelopment, with water, electric, and sewer cutoffs completed, allowing a buyer to begin construction without delay. Alternatively, the existing home can be retained and thoughtfully renovated, offering a more immediate living option with the ability to customize over time. Conceptual plans have been designed for a 10, 000+ square foot French Chateau style estate in conjunction with the adjacent property. While these plans are not directly transferable to this lot alone, they provide a strong architectural vision and a valuable starting point for a buyer looking to create a custom residence. A buyer may work with the existing architect to adapt and tailor the plans, or design a fully custom home to suit their needs. The design reflects timeless European inspired architecture, with elegant stone detailing, a slate style roofline, and grand proportions rarely seen in Queens. Set on a quiet, tree lined block within Malba, one of Queens’ most exclusive and sought after residential communities, the property offers a rare blend of privacy, space, and convenience, with proximity to the waterfront, major highways, and Manhattan. Opportunities to build a custom home in Malba are exceptionally limited. All information, including but not limited to zoning, plans, and development potential, is provided for informational purposes only and is not guaranteed. Buyers are advised to conduct their own due diligence and consult with their architect and professionals to verify all details.
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,695,000
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 | $2,156,000 | $2,156,000 | $2,156,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 6.125% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.117% | 6.235% | 6.058% |
| Monthly Tax Payment | $1,397 | $1,397 | $1,397 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $12,073 | $13,100 | $18,048 |
| Total Monthly Payment | $13,595 | $14,622 | $19,570 |
* 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.