Crescent 110 Equities LLC, is pleased to announce that applications are now being accepted for 10 affordable new condominiums now under construction at 2040 Frederick Douglass Blvd in the Harlem section of Manhattan. This building is approved to receive a Tax Exemption through the 421-a Program of the New York City Department of Housing Preservation and Development. The amenities will include a uniformed lobby attendant, laundry facilities, recreation space, intercom, pre-wiring for a telecommunications system, individual temperature control for each condominium unit, and outdoor and indoor recreation space.
The sales prices, unit sizes, and income requirements are as follows:
421-a Units at 125% of Area Median Income (AMI)
Home Type
Units Available
Bedrooms
Household Size
Minimum Income
Maximum Income
Estimated Prices
Studio
2
Studio
1
$60,000
$79,275.00
$390,707 – $391,499
1 Bedroom
3
One
1
$62,400
$84,938.00
$415,121
2
$62,400
$84,938.00
$415,121
2 Bedrooms
5
Two
2
$73,200
$101,925.00
$492,313 – $495,712
3
$73,200
$101,925.00
$492,313 – $495,712
4
$73,200
$101,925.00
$492,313 – $495,712
* Subject to occupancy Criteria
** Income guidelines subject to change
Eligible buyers should have 10% of the purchase price available for down payment. Buyers do not need to be first time homeowners. Buyers must occupy the condominium as their primary residence. Please note that the quoted sales prices, maximum household income, etc., are estimated and are subject to change.
REQUEST BY MAIL: 2040 Frederick Douglass Blvd Condo, c/o Housing Partnership Development Corporation, 242 W. 36th Street, 3rd Floor, NYC, NY 10018 ​​Include a self-addressed and stamped envelope
DOWNLOAD ONLINE: http://housingpartnership.com/2040-frederick-douglass-blvd
​​​​​Informational sessions will be held on:
June 6, 2016 and June 16, 2016 at 6pm at 314 West 120th Street, New York, NY 10027
Seminar attendance is not mandatory to purchase a home.
Qualified applicants will be required to meet income guidelines and additional selection criteria. Completed applications must be returned by regular mail only (no priority, certified, registered, express, oversized, or overnight mail will be accepted) to a post office box number that will be listed on the application, and must be postmarked by July 26, 2016. All applications postmarked after the deadline date above will be set aside for possible future consideration. Applications will be selected by a lottery; applicants who submit more than one application may be disqualified. Preference will be given to New York City residents. 5% of the units are set aside for mobility-impaired applicants. 2% of the units are set aside for visual or hearing impaired applicants. Preference for a percentage of units goes to: Residents of Manhattan Community Board 10 (50%) and Municipal employees (5%).
EACH BUYER MUST OCCUPY THE HOME AS HIS PRIMARY RESIDENCE. Therefore, any approved applicant will need to sell and terminate any lease to any other residences prior to closing. Any prospective applicant who currently owns or previously has owned a residence under a governmentally assisted project or program is ineligible.
No Broker’s Fee. No Application Fee. Owner Occupancy Required.
Bill de Blasio, Mayor
The New York City Department of
Housing Preservation and Development
VICKI BEEN, Commissioner
www.nyc.gov/hpd