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Mentioned in this Article:
Stephen G. Kliegerman

Stephen G. Kliegerman
President of Development Marketing

Neil Tilbury

Neil Tilbury
Village Office


Harlem's Beacon Towers Is Now 93 Percent Sold

By Jill Feldman

NEW YORK, NY - September 8, 2011 - (RealEstateRama) — Halstead Property Development Marketing today announced that 93% of units have been sold at Beacon Towers, a Central Harlem cooperative development.
The eight-story development, located at 29 West 138th Street between Lenox and 5th Avenues, is comprised of 73 residences. Beacon Towers was created in direct response to the need for affordable housing in New York City by Strategic Development and Construction Group and Lemle & Wolff, Inc., two developers that have been at the forefront of creating mixed use affordable housing developments in New York City for more than 25 years.
Of the five remaining units, there is a one bedroom priced at $275,000 while two bedrooms start at $335,000. Down payments of 3.5% are accepted and financed through The State of New York Mortgage Agency (SONYMA) loan program, which features below-market interest rates, low down payment requirements, no prepayment penalties, and down payment assistance—all of which makes home purchases more affordable and within reach for many New Yorkers.

Construction on the project is complete and immediate occupancy is available with no board approval required. Since Beacon Towers was built with the middle class buyer in mind, the combined qualifying salary cap for the income-restricted units at Beacon Towers is $204,500.

All of the residences at Beacon Towers feature top-of-the-line finishes — including select oak hardwood flooring, oversized “Low E” windows, bathrooms with soaking tubs, designer Kohler fixtures and hardware and Eurotech washers and dryers. Amenity highlights at Beacon Towers include a fitness center; an attended lobby; a landscaped courtyard garden; and under ground secured parking. All residences are also pre-wired for cable TV, high-speed internet access and flexibility to accommodate future technologies.

The building has a 421(a) real estate tax abatement for 25 years and offers some units with private terraces and others with river views. For a full list of available units and floor plans, please visit: HYPERLINK “http://www.beacontowersliving.com“http://www.beacontowersliving.com.

Thursday, September 08, 2011

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