A four bedroom apartment in Longwood on Beck Street for just $100k sounds like a steal and too good to be true but for most in the area and the South Bronx, it is just that.
Our friends over at Brick Underground report that there are four four-bedroom apartments available at an HDFC Co-op at 748 Beck Street but the catch is that you have to have a household income of $71,588 to $151,200.
The average 4 person household in community board 2 (which is the minimum number of people that can qualify for these apartments) only makes $37,582 so these units clearly are not for the average family in the area.
The shame is that home ownership is the best way to combat gentrification but how can local residents defend themselves when the odds are stacked against them and the opportunities created are not for them?
If you want to apply you must be a first time home owner so if you own or have owned real estate in the past, you do not qualify for this lottery.
But you must hurry as all applications MUST be postmarked by May 4th.