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Rare Development Opportunity — Newly Reduced Price! Oversized 0. 8-acre property with exceptional development potential in a prime location. Build a luxury estate with guest house or ADU, create a private multi-generational compound, or explore the possibility of splitting into 2 parcels (buyer to verify with city). Private entrance off Seacrest with mature landscaping offering outstanding privacy. Existing home on site can provide rental income or housing while securing plans and permits. Located just 1 mile north of Atlantic Ave, near Gulf Stream Country Club, and minutes to the beach. Nearby Pineapple properties reportedly closed near $960/SF on much smaller lots, highlighting significant upside potential. See attachments. -Existing home on property may provide interim rental income or housing during planning/permitting process -Potential for guest house/ADU and/or multi-generational compound -Possible lot split opportunity — buyer to verify with city/zoning -Private Seacrest entrance with mature landscaping and exceptional privacy -Conveniently located near Atlantic Ave, Gulf Stream Country Club, and the beach -Nearby luxury new construction sales support strong future value potential -Buyer responsible for verifying zoning, density, subdivision, FAR, and development possibilities
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Our Executive Mortgage Banker:
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$1,500,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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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 | $1,200,000 | $1,200,000 | $1,200,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.125% | 6.375% | 6.125% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.399% | 6.475% | 6.309% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $7,291 | $7,486 | $10,208 |
| Total Monthly Payment | $7,416 | $7,611 | $10,333 |
* 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.