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A blog for breaking sales and neighborhood real estate news.

The Vested Remainder Interest in a Life Estate for the real property located at 313 East 18th Street in Manhattan’s Gramercy Park neighborhood was sold in an all cash transaction valued at $900,000.

The four-story, two-family townhouse, is 20 feet wide and approximately 3,200 square feet and is occupied by the grantor, or life tenant, who keeps possession and use of the property during his/her life. The Life Tenant is responsible for the property’s upkeep and paying any and all utilities. The Remainder Interest Holder can take possession once the Life Estate is released.

Click here for press release

Neighborhoods: Gramercy Park/ Agents: John Ciraulo