Mystery Downtown Development Going Affordable
The New York Post ran a story yesterday mentioning two luxury condo buildings in talks with the city to unload their unsold units as affordable housing. One building is in Harlem and the other in Downtown Brooklyn, according to the article, but officials cannot reveal where the properties are while negotiations are still occurring. Any…
The New York Post ran a story yesterday mentioning two luxury condo buildings in talks with the city to unload their unsold units as affordable housing. One building is in Harlem and the other in Downtown Brooklyn, according to the article, but officials cannot reveal where the properties are while negotiations are still occurring. Any guesses, readers? The article says that the city is in negotiations with “banks that have foreclosed on the properties,” and that the Brooklyn development is in Downtown. The leading guesses in the Forum are Forte and be@schermerhorn (above). What do you think?
City Dealing to Make Luxe Condos Cheaper [NY Post]
Raze! Of course. And I said that I thought it would be great if they allowed people who couldn’t AFFORD affordable housing to move in. Not that that is what is happening. But I mean it – I”m not about scare tactics. I think housing projects are a failed idea. What’s so scary anyway?
Confidence Among U.S. Consumers Rose on Jobs Outlook
http://www.bloomberg.com/apps/news?pid=20601087&sid=a3wdcbiGyOfA
of course it’s not affordable 11217. no one here is stupid enough to believe section 8 will go into any of those buildings. duh. these “affordable” units should just be rebranded, “what the damn prices should have been to begin with” units. which are still out of reach for 99 percent of new yorks and 99.95 percent of the country.
*rob*
So glad you posted that, Dave. People on here seem CLUELESS about how much Manhattan rentals go for. I’m guessing some will not believe those numbers, even though they are fact.
P.s. I was just reading another article about this affordable housing plan and the quote was that “500K apartments will be offered for around 300k”
So no, this will not be section 8. Many posters here, in fact would still probably not be able to afford the “affordable housing” in these two yet unnamed buildings…
seahawk. DT Brooklyn has become residental. It used to be quiet on the weekends and now Court Street’s sidewalk are full of residents and tourists. And beter than what? It is not bad now. The new buildings on Schermerhorn near Hoyt (and near be@) have totally changed those blocks.
Fulton Mall will be Fulton mall for a long time — and that is fine. May not be your or my cup of tea but that’s why we live in NYC.
hey i’m all for it…..just let people know where to send the application and paystubs to….
guess it’s time to ask to be fired so I can qualify for an affordable 3-bedrm in the forte
NYC Apartment Rents Fall as
Aug. 25 (Bloomberg) — Manhattan apartment rents fell as much as 10 percent in August from a year ago as tenants gained negotiating power in the recession.
Rents on one-bedroom apartments in buildings with doormen dropped 10 percent from a year earlier to an average of $3,274, according to a report by the Real Estate Group of New York. Studio prices fell 7 percent in those buildings to $2,329 and two-bedrooms declined almost 6.9 percent to $5,161.
“This month has been a bit of a power struggle between
renters seeking value and property managers trying to capitalize on the last of the summer demand,†according to the report. “The summer peak has been considerably muted this year.â€
Rents in Manhattan are falling as unemployment climbs. The number of job seekers rose to 402,200 in July, the highest level since 1992, New York City’s Comptroller William Thompson said yesterday.
In non-doorman buildings, the price of a studio fell 8
percent to $1,931; One-bedrooms dropped 5.9 percent to $2,606 and two-bedrooms fell 8.2 percent to an average of $3,527.
WOW, 10%. THE SKY IS FALLING.
Also, they still look to be considerably more expensive than Brooklyn!!!!
11217, ROFL!!! That’s awesome.