Manhattan Condos - New Developments - Conversions - Resales: Harlem Update: New Residential Developments

Harlem Update: New Residential Developments

The Kalahari The Kalahari
40 West 116th Street


The Kalahari will be covered in decorations inspired by South African Ndebele tribal designs. Adinkra symbols" and other African designs and markings will adorn the walls.

The 12 story building will contain an independent film center, education center and a gym.

The "green" building features: Eco-friendly systems, wind-energy, filtered air-delivery system, zip cars, etc.

Nearly half of the 249 planned condos have been set aside for moderate-income buyers.

The remaining market priced 129 unit condominium is more than 50% sold.

Currently available are 2 and 3 bedroom units ranging from $700,000 to $1,585,000. The two tower building will be completed in early 2008.

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Mitchell Hall (Licensed as Mitchell J Hall)

Licensed Associate Real Estate Broker
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Comment balloon 2 commentsMitchell J Hall • July 19 2007 08:55AM

Comments

Mitchell - Thanks for share .  So what is considered moderate income? and is the $700,000 range for a person in that income bracket?
Posted by Jennifer Fivelsdal, Mid Hudson Valley real estate connection ( JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571) over 9 years ago

Hi Jennifer,

A family of four with a household income of $63,800 to $131,165 would qualify for one of the subsidized units that are priced much lower. A qualified buyer would have to put an application through the Housing Preservation Development department of NYC.

The $700,000 + market priced units are for buyers with higher incomes or for those with enough assets to afford the units.

Posted by Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn (The Corcoran Group) over 9 years ago

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