Harlem developers offer credit for buyers

New York /
May.May 24, 2010 05:30 PM

Beacon Towers

In the wake of the expiration of the first-time homebuyer’s tax credit, the developers of Beacon Towers, a new cooperative residential development in Harlem, are offering a tax credit to buyers, they announced today. The credit — $8,000 in cash for new contracts signed between now and July 31– will be granted upon closing, in an effort to boost the housing market following the expiration of the federal tax credit in April.
 
Every new purchaser will qualify for the Beacon credit, which can go toward the costs of general living expenses, the building’s monthly mortgage or maintenance charges, or for the buyer’s personal savings.

Located at 29 West 138th Street, Beacon Towers is an eight-story newly constructed building featuring one-bedroom units from $275,000 to $280,000, and two-bedrooms from $375,000 to $607,000. Over 80 percent of the homes have been sold, the developers said.

Developers at the building, where construction has been completed, are also offering a free iPad as an additional incentive on any new contracts signed during Memorial Day weekend. Beacon Towers is a joint venture between Strategic Development and Construction Group and Lemle & Wolff. Other companies are offering similar incentives. Coldwell Banker is giving buyers 3 percent credits, up to $8,000, for contracts signed by July 31. TRD

 

Related Articles

arrow_forward_ios
Non-New York residents who worked remotely last year will still have to pay New York taxes. (iStock)
NY tax officials crack down on remote workers
NY tax officials crack down on remote workers
Andrew Yang (Getty, iStock)
Yang targets vacant lots with $900 million tax plan
Yang targets vacant lots with $900 million tax plan
Donald Trump and 40 Wall Street (iStock, Sterlfilms/Wikimedia)
40 Wall’s valuation chop means tax savings for Trump Org
40 Wall’s valuation chop means tax savings for Trump Org
(Getty)
San Francisco’s tax base to decline for first time in 25 years
San Francisco’s tax base to decline for first time in 25 years
U.S. Representatives Tom Suozzi, Alexandria Ocasio-Cortez and Jerrold Nadler. (Getty)
SALT is crisis for Democrats, not for real estate
SALT is crisis for Democrats, not for real estate
President Joe Biden (Getty, Education Next)
Biden administration considers Opportunity Zone overhaul
Biden administration considers Opportunity Zone overhaul
Clockwise from left: New York Rep. Nydia Velázquez, Ritchie Torres, Jerrold Nadler, Hakeem Jeffries and Tom Suozzi (Getty)
NY Dems lay out ultimatum on SALT repeal
NY Dems lay out ultimatum on SALT repeal
The effective rate was 1.1 percent, on average, in 2020, down from 1.14 percent in 2019. (iStock)
Homeowners’ property taxes grew twice as fast last year
Homeowners’ property taxes grew twice as fast last year
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...