2280 FDB
HPD is offering another lottery for a mixed-income condomimum on Frederick Douglass Boulevard. Studios – 3 bedrooms will be available with price range of $181K to $282K. Income ranges to be eligible for said units ranges from 47K to 83K. Manhattan Community Board 10 residents will receive 50% preference for the lottery units. 20% down plus hefty closing costs that come with new condominium purchases (tens of thousands of dollars) still make make it a difficult lift in these times. At these lottery prices, perhaps market rate units are reasonable as well, or would have to be with Soha118 nearby with units still available.
Informational Seminar to be held January 19, 2009 from 6:00PM to 8:00PM.
Newsong Community Church at 2230 Frederick Douglass Boulevard, New York, NY 10027
HarlemGuy
December 19, 2008
I say do the due dilligence and go for it. Now is the time.
Justin
December 17, 2008
I am also in a new construction lottery building. If you look out for number one and have a thorough review of your punchlist you should be ok. Not perfect no doubt, but ok. And even if there are problems, are you really going to complain about getting a 3 bedroom apartment in mahattan for less than 300K? Mortgage will be less than $1500 a month to own 3 bedrooms!
Yojimbot
December 17, 2008
Harlem Dad’s point is well taken. However I dont think it should be applied as a general rule. I’ve bought in new construction twice now, and performed the necessary due dilligence in order to be successful. One advantage here is that individuals can visit the site and monitor progress for themselves, thereby anticipating any issues that may occur upon move-in. As for the Livmor, I really have problems with how filthy they keep their site…which is usually indicative of larger issues.
Harlem Dad
December 17, 2008
Harlem residents should never buy an apartment before construction is finished and they can have the final product thoroughly inspected by a professional home engineer.
Many developers in Harlem are scam artists who use these government subsidized programs to line their own pockets.
Philip H. Morrow is a notorious con artist developer in Harlem who is building the Livmore Condos at FDB and 116th right now. Read more here:
http://manhattankids.blogspot.com/2008/12/shoddy-construction-at-new-harlem.html