![]() ![]() Ironically according to this article, Mitchell-Lama co-ops can be transferred as there are succession rights ( see this article in the NYT) The only way someone can live there is if they are on the record and listed on the income affidavit. In the event that a person dies, the apartment is sold to the next person on the list and the money is given to the deceased person’s estate. Since this is not an investment property, it can not be inherited. People have said that they expect 5000 applications and will put 500 on the waiting list for The Towers. You can find information about these types apartments through both he NYC’s HPD website (HPD=Housing Preservation and Development) or NYS’s Mitchell-Lama Program (which is the program that the Towers fall in) and in major newspapers, like the Daily News, the Chief or even local newspapers like the Brooklyn Paper. Yes, they are that coveted so there is a waiting lists which lasts for years (5-6+ years or until it reaches the end of the list). These apartments are done by application and then a lottery to get on a waiting lists. Purchasing a co-op makes you a shareholder in the building. The name Mitchell-Lama came from the two politicians who made the bill to create this type of housing in NYC. ![]() You must fall in the income limits seen here. The Bay Ridge Towers (also formerly known by: Bay Ridge Air Rights, Inc.) are part of the New York State Mitchell-Lama buildings program which are co-ops which are low cost and geared at middle income people. Many people are interested in living an apartment in the The Towers because they have heard it is inexpensive.Ĭo-ops in the Towers are far below the market value at $13,500 (for a studio) – $36,300 (for a three bedroom) PLUS a monthly fee of $400 for the studio to $1,000 for the three bedroom (covers maintenance, utilities and security). I'm the Queen of the Click.Brooklynite taking over the world from her computer.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |