Are there any affordable apartments in the manhattan area?

Asked by lilborn08, New York, NY Thu Jul 18, 2013

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Mitchell Hall, Agent, New York, NY
Thu Jul 18, 2013
Hi liborne08,

Yes there are. NYC has many affordable housing programs for both renters and home buyers.

I currently have listed two of the most affordable apartments for sale in Manhattan. They are both in Harlem.

One is a small studio on Edgecombe opposite Jackie Robinson Park in the Sugar Hill neighborhood. The price is $124,000 with monthly maintenance:$210

The other is a grand and gracious classic 6.5 room apartment with 3 bedrooms and a formal dining room on Central Park North with direct Central Park views. The price is $469,000 monthly maintenance is $999.

They are both HDFC (Housing Development Finance Corporation) coops.

Both allow maximum household incomes of up to165% of NY area standard median income. Median Income standards based on household size for 2013 are as follows: 1 - $99,330; 2 - $113,520; 3 - $127,710; 4 - $141,000; 5 - $153,000; 6 - 164,505.

Mitchell Hall
Lic Assoc RE Broker
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1 vote
Anton Glotser, Agent, New York, NY
Wed Jul 24, 2013
yes depending what you mean by "affordable" what can you afford?
any way im sure i can find you a place
0 votes
Laurence Ros…, Other Pro, Cape Coral, FL
Wed Jul 24, 2013
Take a look at the apartments they have at Tons of Manhattan apartments, but you didn't define what you mean by affordable. No matter what, the tiniest apartment all the way in Ft. Washington is going to be at least $1,000 a month.
0 votes
Richard Nyma…, Agent, NY,
Fri Jul 19, 2013
YES, they are called HDFC and they are all over NYC, however, they have income restrictions. Typically, you can not make more than $70,000 per year.
0 votes
Belal Mohd, Agent, Rego Park, NY
Thu Jul 18, 2013
If you are looking for rental, look for rent stabilized apartments.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Jul 18, 2013
Much will depend on your price range....
0 votes
UNeK Mac, Agent, New York, NY
Thu Jul 18, 2013
Hello Lilborn08, that depends on your definition of affordable. Now, are the prices reasonable for what you are getting most of the time? No. But renting and reason don't go hand in hand in NYC. When you rent in NYC you are getting the NYC experience, the lights, the life, the rush of people, the fun, the noise, etc. So with that "reasoning" as an agent its my job to make sure you can afford that NYC lifestyle stress free.
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