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66 East 79th Street 6
New York, NY 10075
$6,700,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
--
Property Description
Old world elegance abounds in this grand scale nine room home, available for the first time in many years. Located in one of the Upper East Side's most coveted boutique, white glove buildings, the apartments are beautifully appointed with prewar details and grand proportions. This home offers magnificent entertaining space complete with high ceilings, oversized windows, and beautiful herringbone floors.

A private elevator landing leads to a gracious entry gallery with a cozy reading nook. Step down to a grandly scaled, airy, corner 35' wood-paneled living room facing South, where decorative plasterwork adorns the 10-foot-high ceiling. This magnificent room has floor-to-ceiling bookshelves, two distinct seating areas and a working fireplace. It is truly the heart of the apartment and overlooks lovely and leafy gardens. An elegant formal dining room, also facing South, leads to a large eat-in kitchen, two staff rooms plus bath, one now being used as a laundry room.

Separated from the entertaining rooms by a private hallway, the bedroom quarters feature a southwest corner primary bedroom suite with a wood burning fireplace and double walk-in closets. The primary bath is large and there is an additional bath off the primary bedroom.
Two additional well-proportioned bedrooms with Jack and Jill baths also flow off the hallway. Each bedroom faces North onto 79th Street. Two staff rooms could easily be combined to create a spacious fourth bedroom with its own bath.

Designed by Pleasants Pennington & Albert W. Lewis, 66 East 79th Street was built in 1926 on the former site of three row houses of the 1880's. There are 15 floors and 19 apartments -- most being private full floor apartments. Perfectly positioned on the south side of East 79th Street, between Madison Avenue and Park Avenues, 66 East 79th Street is a full-service doorman coop minutes from Central Park. This residence enjoys close proximity to the city's many attractions, including its mos
Property Information
Lot Size
-- square ft
Property Type
Common Interest
Year Built
1926
MLS Number
23012428
Location
Address
66 East 79th Street 6
City
New York
State
NY
Zip Code
10075
County
NEW YORK (UPPER MANHATTAN)
Listing
Provider
Fox Residential Group, original listing
Name
Fox Residential Group
Phone
(212) 772-2666
Office Name
Fox Residential Group
Office Phone
(212) 772-2666
Agent Name
Barbara Fox

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.