Buy Affordable Housing

Buy a three-bedroom apartment in the Bronx for less than $100,000

By Nathan Tempey | May 25, 2018 - 9:00AM 

The building at 847 Fox St. has been renovated through a city affordable housing program.

Department of Housing Preservation and Development

Three discounted three-bedroom co-ops are available to buy in Longwood, the Bronx through a city affordable housing program.

The apartments are newly renovated, in a four-story walkup building at 847 Fox St. They are set aside for 3-6-person households making $69,174-$145,200 a year, with a purchase price of $91,483. To be eligible, applicants must also have no more than $185,269 in assets, which includes a 3 percent required down payment, and must not own or have purchased residential real estate. Upon being selected, buyers must use the apartments as their primary residences.

The apartments have energy-efficient appliances and finishes, and will have a 40-year Article XI tax exemption. 

The building is two blocks from the Longwood Avenue 6 station and six blocks from the Prospect Avenue 2, 5 station. Rainey Park is around the corner in one direction, and the Bruckner Expressway is close by in the other. There is lots of shopping a short walk away along Southern Boulevard.

To download the application, click here. To request an application by mail, send a self-addressed envelope to Fox Street Residence ANCP c/o Promesa HDFC 300 East 175th St. Bronx, NY 10457. Don't send more than one application or you could be disqualified. Applications must be postmarked by May 29th, 2018, and should be sent by regular mail only (i.e. not certified or express mail).

Note: Brick Underground is in no way affiliated with New York City’s Department of Housing Preservation and Development. For more on city-sponsored homeownership opportunities, click here. For more details on this particular lottery, click here. For information about "affordable" rental opportunities, visit NYC Housing Connect.

 

 

 

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