Mitchell Lama Coop Info (New York, Clay: real estate, apartments, rent)
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Some helpful info re: 3 bedroom Mitchell lama coops.. I was able to see 4 different units. See below on their differences.
River Terrace on 159th street, 3bdrm, 1.5 baths, approx 6 -7 closets - Cost $55,500, monthly maintence was approx. $1050, parking spot with a wait list of 1-3 yrs was $170. $20 per ac unit additional charge per month. Had a balcony.
Clayton apartment on Lennox avenue, 3bdrm duplex, 1.5 baths, approx 5 closets - Cost $13,800, not sure what the maintenance would have been or anything else because we didn't get that far with numbers. No balcony, just a tiny space to stand for barely one person.
Kingsbay One - 3bdrm, 1.5 baths, 6 closets, - Cost $63,300, monthly maintence was $749.00, $20 per ac unit additional charge per month. Parking not sure on cost.
Kingsbay Two - 3bdrm, 1.5 baths, 7 closets, - Cost $66,446.46, monthly maintence was $799.00, $20 per ac unit additional charge per month. You can have a dishwasher for additional $5 a month, a storage space is $10.00 a month, parking is $35 for only one car, monthly.
< With all the ones I saw you have to provide your own frig and stove >
You may be asking why I was able to see 4 Mitchell Lama's in a year. My dad is a Veteran and has Veterans preference on the waiting lists. I hope this helps for those looking for some dollar amount info. Also I found after searching months that "Only" Kingsbay One and Two are the only ones by Consumers Fedreal Credit Union that due Mitchell Lama loans.
Nobody would consider those maintenance figures "so high." Not for a 3 bedroom apartment that likely includes all utilities.
That is so true! I pay over $1600 a month for a 3bdrm in a private house in Brooklyn including heat into that fee. I think the maintenance fee is extremely reasonable giving what regular rent prices are and your paying someone else's mortage/bills.
Any idea what the waiting list times are like for River Terrace? Trying to find their info....I wonder if I would qualify...
I'm am not sure of their waiting list time, but I know it's very long. I would say over 10 years unless you are a Veteran you go to the top of the list considering there are no more Veteran's ahead of you. You can always call their management and ask questions. We got a call after 1.5 yrs of waiting.
I have included a website with their contact info.
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