Applications are now open for seven new affordable cooperative apartments at 244 Elizabeth St. in Manhattan.
The building was rehabilitated by AAFE through a partnership with the New York City Department of Housing Preservation and Development (HPD). The former city-owned rental property was converted to a low-income co-op owned and managed by the residents, utilizing HPD’s Affordable Neighborhood Cooperative Program (ANCP). The $4 million project included structural repairs, major systems replacement (electrical, heating and plumbing) and layout changes.
There are seven 1-bedroom units currently available. Buyers must occupy the apartments as their primary residence. For one person, the total annual income range is $70,140-110,220. For two people, the maximum is $126,060. For three people, the income maximum is $141,735. The estimated purchase price is $325,281.
There will be an informational session Tuesday, Aug. 29, 2017 at 6 p.m. at 108 Norfolk St. This session is not mandatory in order to apply for these homes. To request an application by mail, send a self-addressed envelope to:
244 Elizabeth St. ANCP, c/o Stanton Norfolk Inc., P.O. Box 874, 128 East Broadway, New York, NY 10002
The application deadline is Sept. 12. Click here for more details.