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I missed it. Did they address why the prices listed on street easy were cheaper than these listed prices? The prices have been reflected to match the ad on street easy but when the lottery first went to housing connect - the prices were cheaper on real estate websites.
As older residents pass, the HDFC has negotiated with Estates and have purchased apartments for as little at $40,000. These are the same units being offered to the lottery "waitlist."
In most scenarios where an existing mitchell-lama type ( originally developed affordable) coop receives funds from HPD, the criteria/regulations dictate that the units are to remain affordable for 30-40 more years.
It looks like this deal allows the HDFC and the insiders to have a windfall profit based on "time-served."
Again, good luck to all
How did you find this out? I don't doubt it but if this was in an article somewhere I'd love to read it.
I got 6XX - but honestly I don't understand this building or lottery. Considering they are selling units on traditional real estate websites - what's the point of the lottery? Are some units set aside or in theory if all the units are purchased via Compass, Corcoran, etc - will there be no units left? Did anyone attend the workshop? Did they explain this?
Log 2XXX. As for the question about them coming up on RE sites, these are listed on the MLS so their bots pull them in automatically. I'm sure if you call any of them, they'll say UMMM, not unless you are selected, if they understand the process at all.
Log 2XXX. As for the question about them coming up on RE sites, these are listed on the MLS so their bots pull them in automatically. I'm sure if you call any of them, they'll say UMMM, not unless you are selected, if they understand the process at all.
I don't think that's true. They are selling. I spoke with someone connected to one of the community agencies helping with the sales. I asked whether they would likely accept a lower offer from lottery winners and I was told while the owners could accept a lower offer they likely wouldn't because they are getting offers at the current listed price.
And that makes sense because I've been following this building and some of the apartments that a few weeks ago said nothing - are now saying in contract.
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