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]
well truth be told 11217, harlem (even spanish harlem) definitely is a lot cooler than park slope.
*rob*
Oh, okay, yeah, BH76. Sorry, sometimes I need to spell these things out for myself.
And you can find studios for 250K in Prime Park Slope.
But there are some people who will never leave the isle of Manhattan, no matter what it costs (or doesn’t cost). Even if that means East Harlem.
Heather: That’s why I posted. The city “affordable” programs are not such a great deal. Developers own all the politicians in this city.
> Studios for $250K? Can’t I get that already in Kensington?
Actually, there are studios for sale in Kensington for less than $150k.
“The estimated purchase prices for these cooperative units range from $252,184.00 to $324,635.00 and include 10 studio units, 33 one-bedroom units. Maximum annual income restrictions will range from $126,700.00 to 134,400.00.”
Okay, am I the only one who sees problems, even with this affordable housing? 152 East 118th street is in asthma corridor city. Now, I happen to like Spanish Harlem, for what it’s worth, but if I wanted to live there it’d have to also be cheap enough to make up for it being in Spanish Harlem, surrounded by bus depots and highway and very few amenities and the Lexington Ave subway line which is not the best.
Studios for $250K? Can’t I get that already in Kensington? Inwood? Riverdale? Queens? Nicer parts of Harlem?
1-bedrooms for $324K — ditto, only even more so?
While I think it’s great affordable housing is being built with actual (by NY standards) middle-class income limits, shouldn’t it either be a.) sized for families or b.) a hell of a lot cheaper?
How can these prices and this location compete with what’s available on the private market?
No, BHO. It is too small to have a name. Well, okay, actually it does have a name, but it was never marketed so the name would mean nothing.
> No comments on the Case-Schiller numbers or are you still analyzing the data??
Gosh, I’m *shocked* that DIBS has taken a sudden interest in Case-Schiller now that it’s not declining.
Obviously you don’t think we’re already in a depression that will rival the 30’s (too many parallels but yet still an unpopular opinion like the recession call last year). You will change your tune though. In due time.
***Bid half off peak comps***
Posted by: Brownstones Half Off at August 25, 2009 1:12 PM
It’s really only the lunatic fringe that believes we will have a recession/depression like the thirties. We are already headed into positive GDP numbers. japan is there now.
Denial is not just a river in Eqypt.