What is NYCHA, and who owns these nice tall high rises?

Asked by RealEstateInvester, New York, NY Sun Oct 21, 2012

I've have seen these beautiful tall buildings in Harlem and I would like to buy them and turn them into condos. The people who already live would have a chance to buy their apartments. Can these buildings be sold?

Help the community by answering this question:

+ web reference
Web reference:

Answers

4
Mitchell Hall, Agent, New York, NY
Mon Oct 22, 2012
Many NYCHA properties are under-built. NYCHA will make available underdeveloped land on its properties for the development of market rate and affordable housing and, in some cases, commercial, retail and community facilities. The effort is part of the Plan NYCHA goal to address chronic and continued funding cuts from the federal government.

http://www.nyc.gov/html/nycha/html/newsletter/oct12_revenue.html

Mitchell Hall
Lic. Assoc. R.E. Broker
Corcoran
2253 Broadway
New York, NY 10024
office 212.877.6268
fax: 212.230.4244
iPhone: 917.312.0924
MHALL@Corcoran.com
1 vote
De Vonte Wil…, Agent, East Point, GA
Sun Oct 21, 2012
NYCHA stands for the New York City Housing Authority as my colleagues have just informed you. See below for additional information.

The New York City Housing Authority (NYCHA) is committed to increasing opportunities for low- and moderate-income New Yorkers by providing safe, affordable housing and facilitating access to social and community services. More than 400,000 New Yorkers reside in NYCHA’s 334 public housing developments around the five boroughs, and another 235,000 receive subsidized rental assistance in private homes through the NYCHA-administered Section 8 Leased Housing Program.

You should work with a Real Estate Professional who can assist you in the search and purchase of investment properties.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.

Wishing you the best of luck,


De Vonte Williamson
Licensed Real Estate Salesperson
Proudly Serving Long Island
Coldwell Banker Residential
Direct:(631)638-6193
Mobile: (631)384-3695
cbmoves.com/DeVonte.Williamson
DeVonte.Williamson@cbmoves.com
"I Stand Behind Getting You Results!
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sun Oct 21, 2012
For information on NYCHA see link http://www.nyc.gov/html/nycha/html/home/home.shtml
0 votes
Anne Marie V…, Agent, NY,
Sun Oct 21, 2012
NYCHA stands for New York City Housing Authority which is the government providing public housing to low and moderate income families. They also administer a federally funded program called Section 8. Tenants must meet income guideline and pay 30% of their income towards the rent. You can contact NYVHA and see if there's an opportunity to partner with them on their many housing initiatives. I don't believe that a NYCHA development has yet turned into condo where tenants get first priority to buy. I've heard of Mitchell Lama rental housing that has turned into coops.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more