152 East 116th Stret (red brick with the baby blue trim) has two-bedroom co-ops available for $209K (Ondl/CityRealty)
On Wednesday, March 11, community organization El Barrio Operation Fightback will host an informational session related to newly converted HDFC cooperatives at 152 East 116th Street. Two- to five-person households earning 90 percent of the area median income ($70,672-$103,770) are eligible to apply for 6 two-bedroom apartments estimated to cost $208,854, or less than half the median price of similarly sized East Harlem co-ops (per CityRealty listings). Further details and criteria can be found here, and the information session will take place at El Barrio Art Space, 215 East 99th Street, at 6:00 p.m. Attendance is not mandatory to participate in the lottery, and all applications must be postmarked by March 19.
Lottery criteria via El Barrio Operation Fightback
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The one-time rental was transformed under NYC Housing Preservation & Development’s Affordable Neighborhood Cooperative Program, which creates affordable co-ops for low- and moderate-income households. As such, the kitchens have been updated with energy-efficient appliances, and all apartments now have in-unit washer/dryers. Moreover, the property will have a 40-year Article XI tax exemption.
From the corner of Lexington and 116th Street (CityRealty)
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