Real estate in brief

TRD New York /
Apr.April 06, 2010 01:15 PM

The Times Building at 852 Cypress Avenue in Queens

Century 21 offers prize money for homeowners
With the $8,000 first-time homebuyer tax credit expiring at the end of the month, a new real estate contest is hoping to fill the void — this time targeting sellers. The national “$8,000 List Your Home Sweepstakes” will reward a lucky few sellers with the eponymous prize, in exchange for listing their home with Century 21 Real Estate. Although it’s not immediately clear how many prize winners there might be, the brokerage said that all home sellers with Century 21 will be eligible. Bev Thorne, a senior vice president of marketing with the company, said that the contest hoped to target a sector of the market overlooked by federal programs. “While the homebuyer tax credit is fueling excitement among potential homebuyers, there is no similar benefit for homeowners to sell their homes,” Thorne said. “Our sweepstakes gives sellers an added benefit.” The contest runs until June 30, 2010.

Pop-up gallery hits Ridgewood condo
A pop-up art gallery is opening in the Times Building, a condominium development located in Ridgewood, Queens on the border of Bushwick, Brooklyn, this Saturday, with plans to stay open for two weeks. All available condos on the second floor will be transformed into the gallery space, according to aptsandlofts.com, which is marketing the development at 852 Cypress Avenue. The 19-unit building, a one-time newspaper headquarters, was developed by NS Construction.

Low-income housing development slated for the Bronx
A new 84-unit low-income housing development is set to be constructed in the Bronx at 1468 Hoe Avenue near Crotona Park, according to the New York City Department of Housing Preservation and Development and the city’s Housing Development Corporation. The eight-story, 82,891-square-foot building will cost $26.6 million to develop and is expected to be ready for occupancy in 2012. The financing will be acquired from several city organizations, according to a statement from city officials, including HPD and HDC. Approximately 20 percent of the units will be set aside for formerly homeless residents. TRD

 

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