Note: the above is based on a down payment of 50% ,
which is the minimum amount permitted by the building.
Description
Please note: apologies but until further notice no further inquiries can be accepted for apartment 208 -- except in combination with one or more additional apartments presently offered in a 6 unit investment portfolio (see info below).
This is the 'secret 'hideaway' every writer/artist is looking for in NYC, a unique apartment with superb intrinsic value! -- elegant & compact 1 bedroom apartment (requiring some renovation to bring it up to the high standard of Lombardy apartments). The apartment features high ceilings, good closet space, the utmost in tranquility & repose -- and a maintenance so low not be believed!
It has an efficiency kitchen which presently does not have a sink although one can be installed. Apartment 208 is located on 2nd floor and faces north so the light is minimal but adequate. The apartment is non-conforming to standard Lombardy units because access is thru a private back service area rather than main hall corridor -- consequently, absolute privacy!
Apartment 208 cannot participate in Lombardy rental pool due to the indirect access from hall corridor. Normally the building has no restrictions for apartment owners renting their apartments, daily, weekly, monthly, etc.; in fact, owners are encouraged to do so by participating in 'Lombardy Hotel rental pool' managed by Lombardy executive staff - the Lombardy charges owners 27% of gross rental income to participate in rental pool).
Apartment 208 also is part of an investor package of 6 apartments which can be purchased separately or jointly (208, 512, 810, 1400, 1401, 1408). The price for the package is $3,725,000.
The distinguished 'Lombardy' has been the 2nd home to many prominent American & foreign owners.
Richard Rogers, Richard Burton & Elizabeth Taylor spent much of their NY time at the Lombardy. Built by William Randolph Hearst in 1926, the building is located on a leafy and tranquil side street in the sophisticated 'East 50s' off Park Avenue (presently the epicenter of the most expensive real estate in Manhattan), two blocks from Central Park, convenient to all transportation -- and proximate to Manhattan's most fashionable shops, boutiques & restaurants. The Lombardy includes Cafe 56 restaurant (offering room service), a state of the art fitness center, business center, beauty salon, espresso bar; valet parking is available for residents.
Maid service (twice daily) and utilities are included in maintenance. Importantly, the Lombardy is a unique investment opportunity -- owners who are infrequently in residence may rent their apartments daily, weekly, monthly (or longer) and receive income during the time they are away. A 'Lombardy' in-house executive vets rental clients and arranges for apartment rentals.
2% flip tax paid by seller.
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