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Tremendous opportunity to create and revive a historic South Harlem townhouse on 113th Street just three blocks from Central Park! The home has been in the same family for over 30 years and vacant for the past 5+ years. The owner was a lifelong entrepreneur who owned a leather and suede shop on West 4th Street. Originally constructed in the late 19th to early 20th century, the exterior facade architecturally matches its neighbors on this unique and historic townhouse block. The neighborhood has transformed significantly over the years and is home to a vibrant mix of restaurants, cafes, and entertainment venues. Its location and proximity to Central Park make this opportunity highly desirable as either a magnificent single-family residence or income generating multi-unit building. Historic and original details abound in this 18-foot-wide townhouse with soaring 9 to 10-foot ceilings throughout. Bring your architect and imagination for this incredible restoration project full of development potential.
Original details include beautiful, exposed brick walls, mahogany wood paneling, original fireplaces with stone surrounds, wooden shutters and doors, a wooden banister, and expansive large-scale rooms. The front of the house is full of South facing sunlight and a Parlor floor perfect for entertaining with its grand rooms and soaring 10. 5-foot ceilings. The main entrance to the Parlor is accessible from the stoop and features a pair of grand double wooden doors surrounded by elegant wood paneling and glass transoms accompanied by South facing sunlit windows across the front. The home includes a full 4 floors plus an additional cellar. The back garden is accessed through the Garden Level below the Parlor Floor. The Rear Garden includes an existing deck and is approximately 746 square feet including the deck. At approximately 929 square feet each, every level offers flexibility allowing the next owner to retain its current layout or reimagine the space. Total interior square footage is approximately 4, 645 square feet including the basement cellar level and 3, 716 square feet excluding.
Within walking distance to Broadway, the area is full of life and community, bolstered by its proximity to Columbia University. It's also near 125th Street, a hub that has grown into a thriving shopping and cultural district. This property offers a unique opportunity to create a custom dream home or a valuable investment property. A professional zoning review will provide further detail on potential expansion and development opportunities. The property is being sold in as-is estate condition and requires a complete renovation. This exceptional opportunity within the historically rich and lively South Harlem neighborhood is blocks from Central Park, renowned Harlem Meer lake, and Davis Center currently being renovated. The Davis Center restoration project will provide expanded recreational opportunities for the neighborhood including a full-scale ice rink and larger than Olympic size swimming pool. Come see all that 255 West 113th has to offer!
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$1,950,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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Loan Amount | $1,560,000 | $1,560,000 | $1,560,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.625% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.614% | 6.727% | 6.309% |
Monthly Tax Payment | $320 | $320 | $320 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $8,858 | $9,989 | $13,270 |
Total Monthly Payment | $9,303 | $10,434 | $13,715 |
* 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.