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.
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Neighborhoods: Gramercy Park/ Agents: John Ciraulo