Create 3,000 Sq. Ft. Owner’s Triplex with Roof Garden
Projected Rental Income Will Cover a $3M Mortgage
Wednesday, November 20th, 2019 | 12:30 -4:30 pm
Bring your contractor! Seize an ideal live-with-ROBUST-income opportunity in a desirable UWS location near Lincoln Center. This townhouse is eighteen feet wide with five stories, a full cellar, and South-facing garden. You’ll also appreciate the high ceilings, spacious rooms, and floor-to-ceiling windows.
This property has a tremendous upside compared to buying a condo. The potential financial breakdown is as follows:
- $3,995,000 (purchase price) + $1,500,000 (estimated renovation costs) = $5,495,000
- You’ll need $2,495,000 cash plus $3,000,000 mortgage
- The projected monthly income of $14,000 (see next page) will pay for a $3M mortgage (based on a 30-year amortized mortgage at 3.7%)
- Additional estimated net expenses listed below are less than $6,000 per month. After interest charges and other tax deductions, the net cost to the owner will be much less than this.
Compared to paying $15,000 per month for a similar 3,000 sq. ft. roof garden rental, 268 West 73rd Street is an amazing opportunity. Invest in your real estate future today.