A Soundview co-op development is now seeking buyers for new one- and two-bedroom affordable units designated only for first-time owners.
While some units were already filled through the HPD Housing Connect lottery system, the co-op currently has 23 homes for purchase outside of the lottery at 1847 Seward Ave. and 1843 Seward Ave.
Thirteen one-bedroom units and 10 two-bedroom units are available for buyers with 70% and 80% AMI ($62,939 to $160,720, depending on family size and unit applied for).
A downpayment, usually 1-3% of the purchase price, is also needed, along with other requirements put forth by dedicated lenders who have already approved this project and secured mortgages for current residents.
Each home features an in-unit washer and dryer, dishwasher, stainless steel appliances and an energy-efficient heating and cooling system. The building has a parking lot and is located across the street from Soundview Park, with close access to the ferry system.
The development was funded through the city’s Open Door program, which was established in 2017 to incentivize the creation of new, more deeply affordable homes.
Open Door has funded more than 520 units for buyers in New York City, providing developers with city subsidies that increase with deepened affordability, as well as long-term stability as units pass from one owner to the next.
With this Soundview co-op, many local renters have seized the opportunity to upgrade to homeownership, said Anivelca Cordova, Principal with lead developer Lemle & Wolff Companies.
The co-op was built on what used to be NYCHA parking lot land, so the project aims to put former NYCHA residents and those of similar backgrounds into the new homes.
“We’re talking teachers, nurses, a lot of working community members looking for generational wealth within their families,” Cordova said.
See this link for full details on purchase price and income breakdown, and a video is available here.
Reach Emily Swanson at eswanson@schnepsmedia.com or (646) 717-0015. For more coverage, follow us on Twitter, Facebook and Instagram @bronxtimes
