Beacon Mews – Rental Building on 139th St: Studio-2 bedroom apartments $1125 – $2019/month
Beacon Towers – Co-op Building on 138th St: 1-2 bedroom apartments from $275K to $455K
Community Board 10 & 11 residents will receive preference for 50% of the units in both developments
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Posted in: Real Estate
jsk3979
November 2, 2008
Does anyone know much about the Beacon Tower Cooperatives. I am middle income and just came in for an interview to hand in the paperwork? Anyone know any details in regards to the apts? restrictions, etc?
Justin
May 31, 2008
Depends on the program for a given lottery. The one I got in on at the time had a cap of 58K.. the numbers are based on federal income limits… but then for the ‘middle income’ apartments there’s the issue that you have to make enough money to actually afford the apartment. I admit in my case between mortgage and maintenance it’s tight, but still doable. But yeah, if i made any less there’d b no way I’d be able to afford to keep up.
The min. for the beacon was 65K… it is not an absolute minimum… you should still apply, as this depends on what mortgage terms you’re able to get etc. Again, I recommend contacting the people at http://www.naca.com to see if they can be of assistance. With a lower mortgage rate, down payment assistance, you should be able to afford the units.
Y. Hernandez
May 30, 2008
I’m confused as what my income status is. I make about $64K a yr, therefore; I am not eligible for the low income apartments, and I make too little to meet the middle income requirements. Is there a middle between low and middle? lol.
M. Lewis
May 28, 2008
Imagine getting the upper west side and Clinton back! That will be the day. We’re all being squeezed here.
123uptownside
May 10, 2008
Get a life… These are NOT affordable for what america considers middle income.
Your friends downtown..who cares. We are talking about Harlem.
No one is trying to keep HArlem Black,, we are just trying to get Harlem back.
Justin
May 6, 2008
Keep in mind that the city has a range of housing programs… from low income to what is deemed ‘middle income’ by not only the city but also the state and federal government. In order to get certain funding programs they are required to use these statistical measures. In other words the only beef is not with the city, but also state and federal tax and funding policymakers that are behind some of these other issues.
In the meantime, any one given development should not be expected to meet such broad need. One project (like the Ellington or Kalahari) may serve one set of needs, another project serves another.
This particular lottery provides opportunity for someone making 65K, or couple making $75K (that’s only 37K each) to BUY an apartment in a new development in Harlem with only 5% down.
The purchase prices of the higher income tiers are different for the different apartments – rest assured the people earning 190K+ will not get the same amount of subsidy from the city that the people earning 65K will. In fact that upper tier simply means that 13 out of the 54 units in the building will be at/near market rate, and that is put into the overall equation to cross-subsidize the more definitively middle-income buyers in the building.
Sista Al-Yasha Anderson
May 6, 2008
This is really crazy. I thought I was middle class with a good income, which means I’ve got a comfortable roof over my head and I eat well. But $100,000 per year!!! I don’t even earn half of that. Obviously the border line between the rich and the poor is growing dramatically. I’m sorry for all my brothers and sisters, black and white, who are being pushed out of Upper Manhattan, BROOKLYN and the BRONX because of ever continuing gentrification! Pretty soon we’ll be trying to reach Cuba in a raft.
Anonymous
May 6, 2008
New York is not a place for this racist stuff. By trying to “keep Harlem black” you engender rascism. That is the same as some Connecticut racists trying to keep black people out of the Greenwich town beach.- Even though those black families were millionnaires. Both equally racist. Do not assume anything by the color of one’s skin!
M. Lewis
May 5, 2008
Most white people don’t make enough money to buy anything at market value. I’ve lived in Manhattan for 35 years and cling to my little rent-stabilized apt. in midtown. I watch newcomers to my building pay $20K and up per month and the turnover is high and the rents go up and up. Many of these young people who have the money to live in my building are not white.
anon
May 5, 2008
ugh im so sick of this “only white people can afford this”, particularly since im white and a social worker making WAYYY less than 100K a year. but i still get told to “get the hell out” of harlem because im driving the prices up. yeah…i wish.
Anon
May 5, 2008
nice racist comment , cnorrison. This isnt affordable to most white people either.
CNorrison
May 5, 2008
If we’re honest, relative to the demographics in that precise area? The 2 bedrooms units are not affordable. It’s only wen you expand the scale to include below 96th St. that it takes on the aura and appearance of “affordable”. Or in other words, this is affordable for white people, not the people that live, and have lived within 10 blocks of that location.
This is not about enabling a hardworking long time Black Harlemite that happens to be blue collar, or even teacher, etc. become a stakeholder. This is a exodus for White below 96th dwellers to have a piece of the pie.
It says something when people or a couple clocking $190K/year merit “Affordable” housing. Think about all the people that come no where close to that.
Manhattan and Harlem 2008 is not for people making less than $100K.
West Harlem
May 5, 2008
These ARE truly affordable. My friends who live outside of Manhattan – like the midwest – have the same reaction. Affordable housing to people making up to $192K. But that is the reality of living in the most expensive city in the nation.
Thank god we don’t live in London where affordable is up to citizens making up to $400K
anonymous
May 5, 2008
The concept of “affordable” is relative. Compared to a 1 bedroom downtown, $1600 truly is affordable
denise b.
May 4, 2008
Umm, I just want to say that I had to gag when I read the prices because it said “affordable.” 1600 for a 1 bedroom has never been “affordable” in my language, this is really a frightening situation.