Applications are now being accepted for three available 3 bedroom cooperative units at 847 Fox Street selling for $91,483 under the city’s Affordable Neighborhood Cooperative Program.
An information session will be held on May 17, 2018 at Maria Isabela Residence at 787 E 149th Street from 6:30PM to 7:30PM for interested first-time home purchasers.
This opportunity is not available to investors and is you MUST occupy the unit if you are selected to purchase it. This lottery is also not open to individuals who already own property or did so in the past.
The units are available for household sizes ranging from 3 to 6 people making anywhere from $69,174 to $145,200 representing 120% of the Area Median Income.
Unfortunately, the average 3 family household in the area makes only $31,924 a year (less than half the minimum required) and even the average 5 person household doesn’t make anywhere near that either with an average yearly income of $42,387 a year.
If you’re interested, you should definitely attend the information session on the 17th of this month and check out the requirements here.
Download the application here and remember, it must be postmarked no later than May 29th, 2018 in order to be considered.