City Island- A Visionary Development in New York with a Marina
Development opportunity in a prime desirable waterfront location with many possibilities.
- Development Project: 3 Acres of Land 3 Acres of Water with 120 Boat Slips
- Approved Development Plans with permits in place: 44 condos or townhouses with more than 60,000 sq. ft.
- Location: Very close proximity to Manhattan and easy access to Long Island, Westchester, Connecticut and New Jersey.
- Waterfront Development Potential offers out-of-the-box vision with versatile potential
- Current Marina Income: Current income from the marina is $239,200 with 80 boats, expandable to 120 boats with additional income of $120,000
. - Buildable Possibilities: Strong possibilities to increase the buildable sq. footage according to proposals by mayor of the city.
- Magnificent water views looking at New York City skyline and bridges
Presenting a dream project for a visionary developer.
521 City Island Avenue, New York, (City Island 1), NY, 10464
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) 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.
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