New condo raffle – QNS.com

New condo raffle

By Greg Hanlon

An island of affordable housing in a sea of skyrocketing real estate prices has just been made available at an under-construction high-rise on the border of downtown Brooklyn and Fort Greene, which is now taking applications for 42 affordable units for home ownership. These affordable units will represent just a small portion of the building, located at 150 Myrtle Avenue, one of many high-rises rapidly changing the landscape of downtown Brooklyn. The 37-story aluminum and glass building will contain 240 apartment units – all for sale – as well as ground-floor retail. For building residents, it will house a four-story, 6,000-square-foot amenity pavilion in the core of the building. (Renderings of the building have not yet been released.) Other amenities include a large fitness center, a lap pool, a roof deck, and 120 on-site parking spaces. BFC Partners, the building’s developer, hope that its proximity to public transportation will be another big selling point: The A, B, C, F, M, Q, R, 2, and 3 lines are all within a short walk. The affordable units are available to those earning less than 195 percent of the Area Median Income (or $138,225 per year). There are 10 studios, 22 one-bedrooms, and 10 two-bedrooms being offered. The studios range from 442 to 508 square feet; the one bedrooms range from 574 to 723 square feet; and the two bedrooms range from 831 to 1,206 square feet. Residents of Community Board 2 will be given a 50 percent preference during the lottery; in other words, until CB 2 residents have filled half the available spaces, no other residents will be accepted. In addition, 5 percent of the units will be set aside for city employees, and another five percent will be set aside for people with disabilities. An additional 2 percent will be set aside for the hearing and visually hearing or visually impaired applicants. More information and applications for download are available at www.150myrtleavenue.com. Applications may also be requested by mail with a self addressed stamped envelope from: 150 Myrtle Avenue Condo, PMB #368 511 Avenue of the Americas New York, NY 10011 The due date for the applications is February 18, 2008. The developer will begin meeting with applicants beginning in March.

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