Earlier this summer, The Real Deal noted that during the slow market, some real-estate brokers have been bailing on market-rate condos and spending their time trying to move units in affordable housing developments with government-backed financing for first-time buyers. One such development, the MeadowWood at Gateway in East New York/Lindenwood (a complex of 19 buildings built in the 1960s formerly known as Fairfield Towers), is targeted towards middle-income buyers such as teachers, nurses, or police officers, with 1,142 one- to three-bedroom units priced between $110,000 and $349,000. The Real Deal also reported that “MeadowWood is one of several affordable housing developments that operates under a partnership between HPD and an organization called Neighborhood Housing Services. The program offers consumer loans through the State of New York Mortgage Agency program, which offers 30-year fixed-rate loans for up to 97 percent of the property’s value, based on strict income and credit guidelines.” In an announcement that’s sure to make market-rate marketers cringe, Filmore Real Estate, the building’s sales agent, just announced in a press release that over 60 units have gone into contract since January while prices, which rose in 2008, remained stable this year. GMAP