NHS Community Development Corporation, a private
not-for-profit agency, is working with the New York City
Department of Housing Preservation and Development to
implement the StoreWorks program. There are eleven (11)
fully rehabilitated buildings available in this
offering, each one with storefront and one or more
residential units. Buyers must occupy the building by
operating the store or residing in one of the
residential units.
ELIGIBILITY
- Applicants must have the ability to qualify for
mortgage financing;
- Submit verifiable evidence of at least 20% of
purchase price in cash for downpayment and closing
costs;
- Demonstrate good credit history and low existing
debt;
- Have approximate minimum income of $54,890 -
$125,028 (depending on the sales price of the
property);
- Be a NYC Resident;
- Not currently own, or ever have owned a residence
developed under an HPD, NYC Partnership or NYCHDC
program or project within the past five years.
AMENITIES
- The buildings will include the following
amenities:
- Clean, sheetrocked and primed store.
- New plumbing.
- New electrical system.
- New boiler.
- New roof.
- New windows.
- New Energy Star rated appliances in all
apartments.
- City sponsored tax abatement for 20 years
(excluding land).
All buildings include one or two* 1st Floor
Storefronts.
|
Available Properties |
|
Address |
Residential
Units |
Est. Sales
Price |
|
162 Utica Avenue
|
5 |
$776,000 |
|
719 Franklin Ave |
1 |
$527,000 |
|
721 Franklin Ave |
1 |
$540,000 |
|
259 Troy Ave |
2 |
$665,000 |
|
580 Livonia Ave |
1 |
$510,000 |
|
582 Livonia Ave |
1 |
$510,000 |
|
663
Blake Ave |
2 |
$560,000 |
|
297
Legion St* |
2 |
$350,000 |
|
922
Saratoga Ave* |
2 |
$550,000 |
|
2486
Pitkin Ave |
2 |
$545,000 |
|
454
Crescent St |
2 |
$625,000 |
***DOWNLOAD APPLICATION & INFORMATION HERE***
SELECTION
PROCESS
Residents and
business owners in Brooklyn Community Boards 5, 8 & 16 will receive preference
for 50% of the buildings. Municipal employees of NYC
will receive a 5% preference. The application process is
supervised by the NYC Department of Housing Preservation
and Development and is conducted through a
lottery.
You will be
notified of your lottery number and next steps within 8
weeks of the application deadline. When your application
is reached in the review process, we will assess your
eligibility and may request that you submit additional
information and pay a non-refundable credit report fee.
Do not send money now.
All completed
applications must be postmarked by Tuesday, May 29, 2007
and mailed via first-Class regular mail only to the
following address:
NHS
Community Development Corporation
StoreWorks -
UTICA/LIVONIA
P.O. Box 1320
James A. Farley Post Office
New
York, NY 10116
No certified,
overnight, hand delivered or registered mail will be
accepted. No Exceptions.
Sale prices,
minimum incomes, down payment and closing costs are
estimates and subject to change.
NO
BROKER’S FEE. NO APPLICATION FEE
|
