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57 Irving Place
New York, NY 10003
Joshua Wesoky with Compass, original listing -
$18,950,000
Conventional
Property
Bedroom
5
Bathroom
Full: 5, ½: 1
Property Type
Conventional
Square ft
4826 Square Feet
Property Description
Exceedingly rare to find in this coveted Gramercy location, this sprawling five bedroom, five and a half bath duplex penthouse is filled with light all day and is offered in mint, turn-key condition, with top-of-the-line finishes throughout. Perfectly located at the center of downtown Manhattan, yet with easy access to midtown and beyond, 57 Irving Place is a boutique full-service condominium with only nine units. With 4,826 interior square feet, plus three outdoor terraces totaling 528 exterior square feet, this home has the perfect layout for indoor/outdoor living and entertaining. The key-locked elevator opens into a sun-flooded great room, with 100 linear feet of floor-to-ceiling windows facing east and west, framing city and sky views. A dramatic double-height entry hall is sure to impress, with nearly 20 ceilings and an architecturally impressive floating wood and metal staircase, leading to the bedroom floor above (also serviced by the elevator). With ample space and flexibility for multiple furnishing plans, the great room easily accommodates several seating areas, including a large living room, dining area, den, and a bar/lounge or study. This spectacular entertaining floor features 10 ceilings, a powder room, an ethanol fireplace, and wide plank wood floors. An east-facing set-back terrace spans the full 50-foot width of the great room, and has space for lounge seating and a dining area, as well as a built-in Viking grill. A smaller landscaped terrace off of the west side of the great room enjoys views of Union Square Park. At the southeast corner of the great room is the sleek chef s kitchen, featuring stainless steel appliances, including a Gaggenau refrigerator, a 48 Thermador cooktop, double Gaggenau ovens, double Miele dishwashers, a Viking wine refrigerator, as well as extensive custom cabinetry including two pantry pull-outs and an enclosed coffee station/appliance garage. The massive island provides plenty of counter space for meal prep, as well as counter-seating for six. Ideally located off of the kitchen is a vestibule with a private rubbish chute. Completing the lower level is the fifth bedroom, with its en-suite bath, currently used as a library/study but also perfect as a guest or staff suite. The elegant central staircase leads to the private wing, home to 4 en-suite bedrooms. The corner primary suite features a huge bedchamber with venetian plaster walls and a bleached oak wood-paneled ceiling, two spacious walk-in closets with extensive custom-fitted cabinetry, and a landscaped corner terrace looking west to Union Square. The luxurious en-suite bath is flooded with natural light from the large sliding glass wall opening onto the private terrace, and features a walk-in double rain-head shower, a freestanding soaking tub, as well as a marble and teak-clad steam room, and a double sink vanity with extensive storage. Down the hall are three additional bedrooms, each with en-suite baths as well as a generous laundry room. This beautiful home also features central air conditioning with 8 zones and fully automated audio/video, lighting, and window shades controlled through a Crestron Home Automation system. Two private storage units transfer with the apartment. The larger of the two includes a custom built cedar closet. Furnishings are available for purchase by separate agreement. Designed by renowned modernist architect Audrey Matlock and completed in 2012, 57 Irving Place is a full service condominium. Amenities include a full time doorman, cold storage, and a backyard garden. Just south of Gramercy Park, 1 block from Union Square and its renowned Farmers Market, and just minutes from Whole Foods, Trader Joe s, and the many world-class restaurants of the Gramercy, Flatiron, and Greenwich Village neighborhoods, it is an unrivaled location for easy access to all of Manhattan. This is a rare and very special property.
Property Information
Lot Size
0 sqft square ft
Property Type
Residential-Condominium
Year Built
--
MLS Number
--
Location
Address
57 Irving Place
City
New York
State
NY
Zip Code
10003
County
NEW YORK (LOWER MANHATTAN)
Listing
Provider
Name
Phone
(917) 744-3435
Office Name
Office Phone
Agent Name
Joshua Wesoky
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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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.