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150 West 15th Street
New York, NY 10011
Michael Koeneke with Compass, original listing -
$15,000,000
Conventional
Property
Bedroom
6
Bathroom
Full: 4
Property Type
Conventional
Square ft
10597 Square Feet
Property Description
Mint-condition and modern single family townhouse built to the highest caliber. 150 West 15th Street is a proper downtown mansion, sprawling over 10,000 square feet and with 6-7 oversized bedrooms, ten bathrooms, an eight-person commercial elevator, and ample outdoor space. It is the pinnacle of luxury living, with finishes, mechanicals, layout, and scale all peerless in the Manhattan market. Enter through a securitized front gate to the front door, under a classical facade of Indiana limestone. A dramatic entry foyer with marble floors leads into the grand living/entertaining space, with double height ceilings and southern light. There is a wet bar, significant wall space for art, and doors leading out to a large garden with an outdoor kitchen. The second level houses a chef's kitchen, with appliances by Bertuzzoni, Wolf, Sub Zero, and with full venting. There is a full-width dining room with seating for twelve, more casual breakfast area, pantry, and storage. The kitchen and dining is open to the living area below, amplifying the scale of the space. The third floor houses two bedrooms, one currently used as a den, and full bathrooms. The bathrooms are marble with custom tiling and the bedrooms each have ample, custom-built out closets. The gracious nature and depth of the house allow for huge landings on each floor, usable as play areas, homework areas, lounges, or just extra seating space. The fourth floor houses two bedrooms and bathrooms, and has an enormous built-out storage closet. The fifth floor is the primary floor, uniquely high in the building for a typical townhome. The primary suite is on the southern side of the building, with its own small terrace, and a four-piece spa-like primary bath and enormous closet. The northern end houses one of the most remarkably inviting office spaces on the market today, a double-height, lacquered masterpiece with storage and tons of room for art. Up on the sixth floor, the building begins to clear the building to the east, allowing for rare side windows to be installed, for extra light. On this floor is another full-width en-suite bedroom and another wet bar. The apex of the house, on the top floor are two large terraces, with support for a hot tub (there used to be one installed) and views north and south. All air conditioning mechanicals are housed on the roof. The basement of the house is fully finished and built full depth, and includes a gym, a soundproofed home movie theater, and a large storage space. Mechanicals of the house are second to none: the home has 600 amps of electrical service, a WiFi-enabled boiler and hot water system to control pressure, radiant heating, and 120-gallon hot water system with boosters. The house has also been fully structurally reinforced and is made of steel, meaning there is no creaking or settling. For the discerning buyer seeking a high room count, significant square footage, ample art storage space, and magnificent entertaining space, look no further than 150 West 15th St. Situated on a tree-lined block at the nexus of Chelsea, the West Village, Greenwich Village, and Flatiron, this truly is a centrally located townhouse dream.
Property Information
Lot Size
0 sqft square ft
Property Type
Residential-Single Family Residence
Year Built
--
MLS Number
--
Location
Address
150 West 15th Street
City
New York
State
NY
Zip Code
10011
County
NEW YORK (LOWER MANHATTAN)
Listing
Provider
Name
Phone
(858) 922-4308
Office Name
Office Phone
Agent Name
Michael Koeneke
Agency Phone
(646) 586-8268

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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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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.