508 East 78th Street


Calling all Investors.This charming studio which can easily convert to a one bedroom apartment is located in the magnificent Cherokee - A glorious pre-war Beaux Arts landmark building. This gorgeous building exudes old world charm and is infused with an elegant European Ambiance. Perched on the 5th Floor, this Sunny Studio boasts Beautiful Brand New Hardwood Floors, a floor to ceiling triple sashed window, and 9 foot ceilings. The LOW MONTHLY MAINTENANCE INCLUDES UTILITIES: Gas & Electric, Heat & Hot Water. There is a current Tenant in there until June 2022.The Cherokee features a live-in super, video intercom system, bicycle room, central storage room, a landscaped courtyard and a new laundry room. Utilities; gas & electric, are included in the maintenance! Pied a terres, Investors, Parents buying for Children, co-purchasers and guarantors are all permitted. Steps away from John Jay Park and the East River promenade makes this apartment a must have. Investment friendly. The Cherokee has excellent financials. There is no flip tax and 80% financing is allowed. Investors, parents purchasing for adult children, guarantors, pied a terres, subletting, and pets are most welcome! The Upper East Side has a burgeoning restaurant scene with numerous dining options ranging from Quality Eats, Uva wine bar, Penrose and newcomers . Boutique gourmet food store options include Citarella, Agata & Valentina and the newly renovated Gracie's that added a wine bar. On a larger scale, Whole Foods and Fairway are only blocks away. Orwasher's Bakery (voted the #1 baguette by Time Out NY) is just around the corner and has been baking the classic black-and-white cookie since 1916 - soft and pillow with a touch of lemon zest! But our all time favorite is the scrumptious Cacio and Pepe, an authentic Italian restaurant serving the most mouth watering dishes. Co-broke Commission is 2.5%.
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Property Information
  • $349,000
  • 1
  • 1
  • 6
  • Pets Allowed
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508 East 78th Street
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