More architectural porn to ogle.Today’s Daily News reports that the South Bronx (or SoBro as the real estate agents like to call it) is getting its "first elevator condo building." Architect Magnus Magnusson,
This is a breakthrough. It will show that the South Bronx is no longer the backwater of New York City.
The apartments will be available through a lottery process. "Seven units are for low-income purchasers - who earn $58,320 or less per year for a family of four. A total of 39 apartments are for middle-income buyers - who earn up to $80,190 annually for a family of four - or moderate-income buyers, who top out at $94,770 for a family of four. Fourteen flats are "market-rate" - with no income restrictions.
Prices are expected to range from around $145,000 for one-bedrooms for low-income buyers to about $325,000 for market-rate three-bedrooms."