A rare chance to own an affordable apartment in a luxury building - but there's a catch

from Epicenter NYC 3 weeks ago

For the sale price of $308,313, interested applicants can acquire a one-bedroom apartment located in a luxury building on the Upper West Side, greatly less than market rates.
Epicenter NYChttps://epicenter-nyc.com/a-rare-chance-to-own-an-affordable-apartment-in-a-luxury-building-but-theres-a-catch/

The building offers amenities rarely found in affordable housing—like a 75-foot saltwater lap pool, a fitness center, and shared outdoor spaces, making it a unique opportunity.
Epicenter NYChttps://epicenter-nyc.com/a-rare-chance-to-own-an-affordable-apartment-in-a-luxury-building-but-theres-a-catch/

This lottery unit is available due to outdated regulations allowing developers to build one affordable unit for every 3.5 market-rate units, a rule now updated to a stricter 1:1 ratio.
Epicenter NYChttps://epicenter-nyc.com/a-rare-chance-to-own-an-affordable-apartment-in-a-luxury-building-but-theres-a-catch/

HPD stated that because of the previous Inclusionary Housing Program regulations, only one affordable apartment was required in this luxury complex, limiting accessibility for many potential residents.
Epicenter NYChttps://epicenter-nyc.com/a-rare-chance-to-own-an-affordable-apartment-in-a-luxury-building-but-theres-a-catch/

Read at Epicenter NYC

#affordable-housing #luxury-apartments #upper-west-side #housing-lottery #inclusionary-housing-program

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A rare chance to own an affordable apartment in a luxury building - but there's a catchA rare chance to own an affordable apartment in a luxury building - but there's a catch Briefly

A rare chance to own an affordable apartment in a luxury building - but there's a catch
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