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955 & 957 East 229th Street, Bronx, NY – New Construction Two-Family Welcome to this brand-new, ground-up construction two-family residence located in the desirable Wakefield section of the Bronx. This modern property offers exceptional versatility for both end-users and investors alike. Each unit features a spacious three-bedroom, two full bathroom layout with thoughtfully designed open living and dining areas, contemporary kitchens, and ample closet space. High-quality finishes, energy-efficient systems, and separate utilities enhance both comfort and long-term value. The property also includes a fully finished basement with a flexible layout, offering the potential for conversion into an accessory dwelling unit (ADU), configured for two bedrooms, two bathrooms, a kitchen, and living area (subject to local approvals). Ideal for extended family use or additional income potential. Property Highlights: New construction – turnkey condition Two (2) 3BR / 2BA units Finished basement with ADU potential (consult architect/municipality) Separate utilities Modern kitchens and baths Generous natural light and functional layouts Location & Accessibility: Conveniently situated near major transportation options, including the 2 and 5 subway lines, as well as multiple MTA bus routes, providing direct access to Manhattan and surrounding boroughs. Close proximity to Metro-North Wakefield station for expedited commuting. Neighborhood Amenities: Located near a variety of local shops, supermarkets, restaurants, and cafes along White Plains Road and Gun Hill Road corridors. Nearby parks and recreational areas include Seton Falls Park and Bronxwood Park, offering green space and outdoor activities. This is an excellent opportunity to own a low-maintenance, income-producing property in a growing Bronx neighborhood. All information deemed reliable but not guaranteed. Buyers are advised to independently verify all information, including potential basement/ADU use and local zoning compliance.
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Our Executive Mortgage Banker:
$1,250,000
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 | $1,000,000 | $1,000,000 | $1,000,000 |
| 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 | $185 | $185 | $185 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $5,600 | $6,076 | $8,371 |
| Total Monthly Payment | $5,910 | $6,386 | $8,681 |
* 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.