Affordable Housing Lottery Launches For HDFC Co-Ops In Washington Heights

December 16, 2020

The affordable housing lottery is now open for HDFC Co-Ops, two recently renovated cooperative developments at 518 West 161st Street and 544 West 163rd Street just above Harlem in Washington Heights.

The six-story structure with 24 units at 518 West 161st Street is designed by RKTB Architects and developed by the city’s Department of Housing Preservation and Development.

544 West 163rd Street is a five-story building with 20 units, developed by Restoring Communities Housing Development Fund.

Available on NYC Housing Connect is 18 units for residents at 110 percent of the area median income, ranging from ineligible income from $67,693 to $155,100.

Residential amenities include gated access, a recycling center, and package lockers.

Units will have energy-efficient appliances, washers and dryers, smart controls for heating and cooling, and private outdoor space either in a patio or balcony.

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At 110 percent of the AMI, there are two one-bedrooms with a $223,992 estimated sale price for incomes ranging from $67,693 to $112,640; ten two-bedrooms with a $268,790 estimated sale price for incomes ranging from $80,089 to $135,080, and six three-bedrooms with a $310,602 estimated sale price for incomes ranging from $91,119 to $155,100.

Prospective buyers must have three percent of the purchase price for a down payment, as well as meet income and household size requirements to apply for these apartments reports New York Yimby.

Applications must be postmarked or submitted online no later than February 11, 2021.

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