BEFORE you contact the broker for questions or access, please read the terms of this offering carefully as it is a very unique offering and rare opportunity. This will be an Investor purchase as we have an excellent tenant in place through June 30th, 2024 @ $2600 per month. The tenant has excellent credit and has been there since November 1, 2021, with an impeccable on time rent payment history. The tenant has no pets and keeps the Flat in great shape. Here are the stats with regard to Rate of Return based on an all-cash purchase is as follows: Yearly Rent-$31,200\Yearly Maintenance-$9600.00\Net rent after maintenance expense-$21,580 This is approximately a 5.5% Rate of Return based on the Offering Price. The big bonus here is that this apartment was gut renovated with high end finishes approximately 5 years ago. If you had visions of utilizing this for your own use, you would need to wait till July 1st, 2024 If the above details of the offering work for you, I encourage you to read on. Here is your opportunity to connect with a classic prewar building that takes you back to the times of horse & buggy in Manhattan. It puts you squarely in the center of town with a prime Union Square Park location. The Swannanoa is a 10-story Neo-Renaissance apartment building designed by Gilbert Schellinger who was a renowned and prolific designer of residential buildings back in the late 1800’s and early 1900’s. If size matters, you may want to stop here as the apartments @ the Swannanoa tend to run on the small side. This beautiful renovated flat features 9.5 ft ceiling height, wide plank hardwood floors, four large windows, oversized walk-in closet/dressing room, AC, two brilliantly bright\quiet exposures including east and north. Bathroom: Totally renovated and yet still has that classic feel featuring marble floor, two large windows, Gerber high powered flush toilet and stylish sink/sink cabinet piece & chrome hardware. Plenty of heat/hot water and water pressure to boot. Kitchen: Efficiency style for the busy urban types that can comfortably de-emphasize the size of their kitchens. This kitchen features a Whirlpool stainless steel convection/microwave oven & a Summit 2 burner electric cooktop. It also has a Stainless-Steel Summit half fridge with a freezer. Views/Exposures: East & North with Lots of sky & quiet. Please note the following with regard to building rules for purchase: 1. Parents buying with children, gifting and pied-a-terre’s are permitted. 2. The building is pet friendly for owners. 3. The building requires a down payment of 20% min. Building Amenities: Prewar elevator building with resident superintendent, modern laundry room, Cyberdoorman remote security service and two modern passenger elevators along with its classic Lobby & architecturally designed front doors. You are most likely aware that you are in the heart of the prime downtown area. Union Square affords you the prime downtown vibe with great access to Union Square Park with its multiple mass transit options incl N, R, Q, 4, 5, 6 & L Trains. The Swannanoa is a 10-story Neo-Renaissance apartment building designed by a prolific designer of residential buildings whose name is generally associated with single-family row houses. The building was originally planned with 40 apartments, four on each floor. Its most imposing feature is the two-story base with granite pilasters and projecting portico supported by four granite columns. Above the portico are seven-story rounded bays, undoubtedly designed to provide residents with views toward nearby Union Square. The brick-faced upper floors are extensively ornamented with Terra- Cotta, including foliate detail, Cartouches, Lion heads, and Dolphins. Designed by Renowned Architect: Gilbert A. Schellinger.
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