50 West 112th Street Housing Development Finance Corporation has been approved for bank financing by First Republic Bank.This is an amazing chance for home ownership in Manhattan, below 125th Street, at an affordable price. Usually banks requires HDFC's to have updated financials, with no bad debt such as: Arrears and Backed Taxes. Hence, 50 West 112th HDFC has no debt, and have been approved for financing from First Republic Bank, at an unbelievable rate of 2.9% APR FIXED. Therefore your current ownership will cost less than $1300 a month. (The average STUDIO rental in Harlem hit $2000 a month this year. Prices for one bedroom rentals are expected to rise after city wide rent freeze ends.) Our firm is offering you a chance to own a "Rental Bunker". Anchor yourself in Manhattan without the concern of relocating in a few years, due to increased rentals rates. Apartment 5B is a south facing corner unit, that gets direct sunlight all day long. One of the brightest apartments in this building. Recently upgraded with a new paint job and shinny hardwood floors. The apartment has high ceilings, and ample closet space. The bedroom is situated in the back of the building for privacy, and peacefulness. 50 West 112th was first built as an Hotel in the 1940's. Later, converted into an HDFC in 1996 to maintain affordable housing for all New Yorkers. 50 West 112th HDFC has a part-time doorman/security, laundry room, and elevator. Plan Amenities for 50 West 112th HDFC in 2017: Bike Room, Storage Units, and Community lounge for all tenants. 50 West 112th HDFC operates under the 165% median income guidelines. Which means your income can not exceed the following guidelines (1 person: $99,825, 2 people people: $128,205 and 4 people: $142,395.) Serious inquiries only: Contact Dave Platow, Account Executive of FIRST REPUBLIC BANK at or Real Estate Board of New York members are encouraged.
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