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I saw this apartment over the weekend and the owner told me that the board will decide who gets the apartment and that they prefer to have a couple or family. Is that legal?
Since this is an affordable housing unit, they can apply the household size restriction. They are marketing this as a 3-BR although I think it is really a 2-BR (if I am not mistaken the third bedroom does not meet the minimum size requirements in affordable housing.) Either way, if it is a 2-BR unit, they can restrict it to 2-3 person households. As someone who works in affordable housing, I can verify that there are a ton of design requirements (some which I think should be implemented in all housing in NYC so you don't get goofy extra tiny apartments), funding restrictions, and tenant restrictions.
It is too bad though. I looked at this unit too, and really wanted it. Affordable housing is unfortunately not geared towards 1 person households.
Sorry for triple posting, but some of the restrictions have limitations on them. Usually 15 or 30 years. After that, anyone can buy it no matter what their household or income is, but I guarantee the price will skyrocket when that time comes. I think this building became a UHAB building 2-3 years ago.
It's Umbrella House and became an HDFC coop in 2010: http://gvshp.org/blog/2011/06/14/umbrella-umbrella/
"After that, anyone can buy it no matter what their household or income is" ... yeah, good luck with that!
such a cynic, alan.
this is one of the last great for-the-people, homesteaded holdouts ni the east village. very wonderful people live there and anyone would be lucky to join them. hope whoever the lucky tenants are deserve it, and that htey are good people and good community members!
That $149k selling price almost begs me to ask, "what's the catch?"
I don't think there is a catch. It seems to me they're abiding by the rules and keeping it a low-income co-op rather than making it a haven for trust fund babies and unemployed bankers.
"I don't think there is a catch. It seems to me they're abiding by the rules and keeping it a low-income co-op rather than making it a haven for trust fund babies and unemployed bankers. "
That's great, and I'm not being facetious. I shall file this apartment in my new "Conclusive Proof That It Is, In Fact, Possible For Non-Six-Figure Regular Folks To Buy In Manhattan" folder.
Streeteasy Protip: You really can have folders with names as long as the one I suggested. I was joking, but I made a new folder and SE accepted the name without any error message.
Now that's quality service!