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New York

505 condo gets FHA approval

505 West 47th Street

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The 505 Condominium in Hell’s Kitchen announced it was approved for mortgage financing by the Federal Housing Administration.
Parkview Developers said that FHA approval will allow additional buyers to qualify for mortgage loans at the property, located at 505 West 47th Street. FHA financing allows buyers to get a mortgage with only 3.5 percent down payment.
The property is offering 108 units, starting with $425,000 studios up to two-bedroom units for $955,000.

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Federal Housing Administration