Real estate in brief

Griffin Court gets FHA, UrbanEdgeNY.com launches, Mitchell-Lama augmented
April 14, 2010 04:33PM

Griffin Court gets FHA approval

Griffin Court Condominium has received Federal Housing Administration approval for loans taken out on its units. The 95-unit building developed by Alchemy Properties, at 800 10th Avenue between 53rd and 54th streets, will grant buyers 95 percent financing on its units, ranging from 636 square feet to 1,829 square feet and $735,000 to $3.86 million.

Rental listing site launches, takes out brokers

A new New York metro area rental listings Web site which takes brokers out of the equation has launched. UrbanEdgeNY.com allows property owners and tenants to communicate one-on-one about owner listings, and bars agents from posting listings. So far the site has more than 2,000 listings, according to the company. The Web site covers New York City, Westchester and New Jersey.

New legislation to augment Mitchell-Lama protection

A new package of legislation passed by the State Assembly today would protect residents under the Mitchell-Lama affordable housing program after buy-outs, according to a statement from Speaker Sheldon Silver. The program is intended to make sure vital improvements are made and essential services maintained at Mitchell-Lama buildings that are undergoing ownership transition. Silver said he believes the legislation with “help middle-income families by adding increased protections” and ensuring the tenants’ quality of life is not harmed when a building changes hands. TRD


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