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Queens (Forest Hills), NY, 11375 | $175,000
Investor Opportunity at the Prestigious Forest Hills Gardens - Rare Rent-Controlled Co-op at 150 Burns Street
Residence 3A presents a unique opportunity for investors seeking long-term upside in one of Forest Hills' most sought-after full-service cooperative buildings. This spacious home is being offered with a rent-controlled tenant currently in place paying $671. 13/month.
The apartment carries a monthly maintenance of $2, 197. 30, plus:
Assessment: $671. 13/month (through December 2027)
Cable/Internet: $65/month
Storage: $50/month
Located within the highly regarded Burns Street enclave of Forest Hills Gardens, 150 Burns Street is known for its elegant prewar character, gracious layouts, and premier location near shopping, dining, parks, and transportation.
This is a rare chance to acquire a rent-controlled asset in a blue-chip Queens cooperative with future value potential in an exceptionally desirable neighborhood.
Please note: Apartment is being sold with tenant in place. All prospective purchasers should perform their own due diligence regarding rent-control regulations and future tenancy considerations.
Features
- Town: Queens
- Levels: 6
- Rooms: 5
- Bedrooms: 2
- Baths: 2 full
- Laundry: Building None
- Year Built: 1932
- Common Charge: $2,197 Monthly
- Approx Sq. Feet: 900
- View: City
- Pet Policy: Building No,No
- MLS#: RLS20093772
- Days on Market: 1 day
- Website: https://www.raveis.com
/prop/RLS20093772/150burnsstreet_queens_ny?source=qrflyer
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.Listing courtesy of Corcoran Group Phone: (212) 355-3550
William Raveis Family of Services
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888.699.8876
Contact@raveis.com
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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:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Queens (Forest Hills), NY, 11375
$175,000
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $140,000 | $140,000 | $140,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.000% | 6.375% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.374% | 6.524% | 5.933% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $839 | $873 | $1,163 |
| Total Monthly Payment | $914 | $948 | $1,238 |
* 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. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535