A 3 bedroom condo at the Rushmore was just sold for close to $3 million to one of our clients.
Our foreign buyer approached us with the task of finding a beautiful three bedroom apartment that they planned on renting for the first few years, but then enjoying for themselves in later years. The buyer was in New York City for only a few days on a business meeting, so we had very limited time. We quickly scoured the city for properties that made the best sense for the family, quickly narrowing down the options to a select group of the finest properties. With first class door-to-door service we visited each property and revisited a select few. Ultimately, the buyer was very pleased with our selection and chose a Hudson River facing three bedroom at the Rushmore on the 21st floor.
Rushmore rises over 41 floors in two towers on the Hudson River. While Rushmore is new construction, the building is over 85% sold and closed. The last remaining units are now selling quickly.
The Rushmore stood out to us and our buyers for a number of reasons. First, the Hudson River views from this building are quite spectacular and are protected for life (which is very important to many of our investors). Second, property taxes for the first 10 years are significantly reduced, as the building qualifies for a 421a tax abatement. Third, the common charges at the Rushmore are quite low at $0.78 per sq. ft. You get a lot for your common charge money at the Rushmore, as it is a full service building with gym, pool, kids playroom, etc. In comparison, Rushmore’s neighbor and many properties in New York City charge $1.15 per sq. ft. for common charges. Since the buyers would not be using the property for themselves in the early years, it didn’t make sense to be paying all these extra taxes and common charges since the family wouldn’t be living there. Fourth, the 21st floor apartment is one of only two apartments on that floor it has a very exclusive feel unlike so many apartment buildings in the city. Fifth, the building is new and while the finishes are contemporary, they are done with traditional accents, making the apartment really feel like home. Finally, the future addition of Riverside Center by Extell, only a few blocks south, will feature tons of retail, offices, apartments, green space, and a K-8 public school, adding long term value to the entire area. For this and many other reasons The Rushmore is perhaps one the best New York Condos For Sale on the market.
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