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838 Fifth Avenue
New York, NY 10065
Kyle Blackmon with Compass, original listing -
$24,500,000
Conventional
Property
Bedroom
4
Bathroom
Full: 5, ½: 1
Property Type
Conventional
Square ft
5427 Square Feet
Property Description
838 Fifth Avenue in Manhattan is a prestigious and iconic condominium building located in one of the most coveted neighborhoods of New York City. Situated on the corner of Fifth Avenue and East 65th Street, this luxury high-rise offers a prime location and breathtaking views of Central Park. 838 Fifth Avenue is renowned for its exclusivity and privacy. With a limited number of units, the building offers a sense of intimate luxury. Indulge in the epitome of luxurious living with this extraordinary home at 838 Fifth Avenue, Manhattan. Boasting an impressive 5,400+ square feet of space, this residence encompasses 10 beautifully appointed rooms and an astonishing 44 feet of direct Central Park frontage, offering panoramic views of the iconic park through multiple oversized windows. Currently used as a three bedroom 5 and half bathroom home, it can easily convert into 5 plus bedrooms. Upon entering through a private elevator vestibule, you are welcomed by a grand reception gallery that sets the stage for an unparalleled living experience. There are two front hall closets. The expansive entertaining and living spaces to the west flow from this central point, while a separate bedroom wing houses the bedroom quarters for utmost privacy. Every aspect of this home exudes opulence and sophistication. Enjoy the changing seasons of Central Park from the elegant cornered great room, to the adjacent dining room, adorned with a gas fireplace and pocket doors and access to the kitchen. This layout is perfect for casual intimate gatherings or more formal entertaining. The large eat-in kitchen has everything from two dishwashers, two sinks, and a stove enviable for any cooking enthusiast and storage space galore. A warm and rich wood-paneled library/media room with a gold leaf ceiling invites you to unwind in its refined ambiance. This room faces north with views of central park and it hosts a full wet bar including an automatic ice maker. A powder room completes the entertaining wing of the house. In the back of the home, the primary suite is a true sanctuary within this grand abode, spanning multiple rooms to provide the ultimate retreat. A primary foyer leads to a serene sitting room with a Juliet balcony, offering a private oasis to relax and enjoy the views. The primary bedroom itself is spacious and offers yet another Juliet balcony, seamlessly connecting the indoors with the outdoors. Completing the primary suite are two extravagant en-suite bathrooms, each with its own dressing room, creating a haven of comfort and luxury. This wing also features two additional large bedrooms, each with its own ensuite bath, along with an office with a full bath and a laundry room, and 2 extra walk-in closets. All bedrooms enjoy a sense of seclusion and partial Central Park views, adding to the allure of this exceptional residence. In addition to its unmatched living spaces, this apartment includes two Eurocave wine cellars, two private storage rooms, and a separate studio apartment with a kitchenette and full bath on the lobby level, offering practicality and convenience. Located within an elegant limestone building housing only nine residences, 838 Fifth Avenue ensures a sense of exclusivity and sophistication. Nestled near the city s finest dining, shopping, and cultural establishments, residents can expect discreet and attentive service provided by full-time doorman and a live-in super. The building also offers a gym and central laundry room, enhancing the living experience for its private residents. *Monthly assessment of $3152.66 through December 2023
Property Information
Lot Size
0 sqft square ft
Property Type
Residential-Condominium
Year Built
--
MLS Number
--
Location
Address
838 Fifth Avenue
City
New York
State
NY
Zip Code
10065
County
NEW YORK (LOWER MANHATTAN)
Listing
Provider
Name
Phone
(646) 798-8898
Office Name
Office Phone
Agent Name
Kyle Blackmon
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.