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Deborah Camacho

Lic. Assoc. R.E. Broker
Office:(718) 878-1727
Mobile:(914) 418-4118

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Mentioned in this Article:
The New York Daily News

Nearly 50 000 People Bid For 25 Bronx Housing Units Marked As 'Affordable'

The staggering amount of applications rolled in for Bedford Park Manor, a mixed-income development opening this month on newly rezoned Webster Avenue. The 'affordable' apartments, which run just under $1,300 for a one-bedroom, are not much cheaper than the building's market-rate units.

The developers of the Bedford Park Manor, the first residential complex to be built on Webster Ave. since a 2009 rezoning, say that nearly 50,000 people applied for 25 apartments marked as “affordable.”

An almost unfathomable number of people bid to snag one of these “affordable” Bronx apartments — though the units aren’t that much cheaper than those that will be rented at market rate in the same building.

Close to 50,000 people applied in a public lottery for a mere 25 apartments in a Webster Avenue complex opening this month, said a spokesman for the city Department of Housing Preservation and Development.

That makes the odds for scoring below-market digs in the new “Bedford Park Manor” — which boasts views of the New York Botanical Garden — 1 in 2,000.

“The demand is so unbelievable,” said Adolfo Carrion, the former borough president who serves as executive vice president for the developer, the Stagg Group.

The city offered rent-stabilized one-bedroom units at $1,275 per month, and two bedrooms at $1,435 for households earning around $50,000 a year.

The market-rate units at 2999, 2987 and 2985 Webster Ave. are being rented out at $1,500 for a one-bedroom and $1,700 for a two-bedroom, said broker Deborah Camacho.

The complex is the first residential development to open on the once sleepy strip since a massive 2009 rezoning.

Wednesday, January 07, 2015