Unsold units at “affordable” condo complex listed at market rate prices

TRD New York /
Jun.June 15, 2017 04:15 PM

Sixteen condos near the Darien Metro-North commuter rail station just come on the market and five have already sold. Developer Nick Barile of York Construction & Development has restricted units in the development, known as Pemberton 16, to residents age 62 and older. Many were priced at $195,000 — far below market rates — to secure the 8-30g affordable housing designation from the state. As of Thursday, June 15, the prices of unsold units increased to $825,000 and $895,000. The condos are listed by Jill Barile, the developer’s wife, an agent at Coldwell Banker’s Greenwich office. [Greenwich Time]

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