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111 West 57th Street
New York, NY 10019
Jim St. André with Compass, original listing -
$24,500,000
Conventional
Property
Bedroom
3
Bathroom
Full: 3
Property Type
Conventional
Square ft
4492 Square Feet
Property Description
Positioned at the perfect elevation over Central Park with jaw-dropping unobstructed views to the north and incredible exposures onto iconic towers including the Empire State Building to the south, this highly customized and carefully crafted residence is being offered fully furnished and is the first available resale tower residence at 111 West 57th Street. Spanning 4,492 square feet, Residence 46 is an exceptionally gracious residence with the building s most sought-after floor plan. Access directly via one of two passenger elevators into a moody entry gallery with black venetian plaster walls and white macauba stone flooring. The great room beckons you with its 50 feet of width, 14-foot ceilings, and floor to ceiling glass showcasing the park s excellence and the pre-war architectural icons lining Central Park West and Fifth Avenue. A custom wet bar with wine refrigerator is conveniently located off of one of two seating areas. An open kitchen features custom cabinetry throughout, appliances by Gaggenau, crystallo white quartzite countertops and backsplash, and an intimate eating area perched at the corner of the home overlooking Central Park. Walls are finished in hand-applied plaster, and flooring is pre-war inspired parquet in smoke grey solid oak. The southern wing of the apartment contains three en-suite bedrooms including the luxurious primary bedroom suite. An entry gallery complete with custom steel and glass Rimadesio closets welcomes you into this true sanctuary, which has two additional fully outfitted custom Rimadesio closets, an exceptionally scaled bed chamber with views of the city skyline, and a windowed bathroom wrapped in white onyx, a freestanding polished nickel bathtub, and custom fixtures by P.E. Guerin. Each guest bedroom is oversized, contains custom Rimadesio desks and shelving, and features a bathroom finished in crystallo gold quartzite. A jewel onyx powder room, exceptional storage space, and Lutron lighting system with motorized shades throughout complete this residence. It is being offered fully furnished, with designer furnishings from the world's top contemporary brands including Liaigre and B&B Italia. Amenities at 111 West 57th Street include a 24-hour doorman and concierge team, discreet porte-cochere entrance for vehicles on 58th Street, two-level fitness center with outdoor terrace, 82-foot lap pool with private cabanas, sauna, and treatment rooms, resident s lounge with terrace, study, and meeting rooms, and private dining room with adjacent catering facilities. Residents have access to an on-site padel court, golf simulator, and children s playroom. Note: Art is excluded from this offering.
Property Information
Lot Size
0 sqft square ft
Property Type
Residential-Condominium
Year Built
--
MLS Number
--
Location
Address
111 West 57th Street
City
New York
State
NY
Zip Code
10019
County
NEW YORK (LOWER MANHATTAN)
Listing
Provider
Name
Phone
(646) 732-8162
Office Name
Office Phone
Agent Name
Jim St. André
Agency Phone
(646) 586-8268

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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.