NEW YORK, NY – September 8, 2011 – (RealEstateRama) — Halstead Property Development Marketing today announced that 93% of units have been sold at Beacon Towers, a Central Harlem cooperative development.
The eight-story development, located at 29 West 138th Street between Lenox and 5th Avenues, is comprised of 73 residences. Beacon Towers was created in direct response to the need for affordable housing in New York City by Strategic Development and Construction Group and Lemle & Wolff, Inc., two developers that have been at the forefront of creating mixed use affordable housing developments in New York City for more than 25 years.
Of the five remaining units, there is a one bedroom priced at $275,000 while two bedrooms start at $335,000. Down payments of 3.5% are accepted and financed through The State of New York Mortgage Agency (SONYMA) loan program, which features below-market interest rates, low down payment requirements, no prepayment penalties, and down payment assistance—all of which makes home purchases more affordable and within reach for many New Yorkers.
Construction on the project is complete and immediate occupancy is available with no board approval required. Since Beacon Towers was built with the middle class buyer in mind, the combined qualifying salary cap for the income-restricted units at Beacon Towers is $204,500.
All of the residences at Beacon Towers feature top-of-the-line finishes — including select oak hardwood flooring, oversized “Low E” windows, bathrooms with soaking tubs, designer Kohler fixtures and hardware and Eurotech washers and dryers. Amenity highlights at Beacon Towers include a fitness center; an attended lobby; a landscaped courtyard garden; and under ground secured parking. All residences are also pre-wired for cable TV, high-speed internet access and flexibility to accommodate future technologies.
The building has a 421(a) real estate tax abatement for 25 years and offers some units with private terraces and others with river views. For a full list of available units and floor plans, please visit: HYPERLINK “http://www.beacontowersliving.com“http://www.beacontowersliving.com.
About Strategic Development and Construction Group: Strategic Development & Construction Group (SDCG) has been actively engaged in the acquisition, financing, development and marketing of residential and commercial projects since 1985. SDCG has built over three thousand residential units and earned numerous awards for its achievements from organizations such as the Associated Builders and Owners of Greater New York, Inc., the Brooklyn Chamber of Commerce, NYSAFAH and the New York State Senate. For more information, please visit: HYPERLINK “http://www.strategic-construction.com“http://www.strategic-construction.com.
About Lemle & Wolff, Inc.:
Lemle & Wolff, Inc. is a real estate management and development firm that was established in 1938 and is today one of the foremost providers of affordable housing in upper Manhattan and the Bronx. A full service organization, the firm is committed to the preservation and upgrading of the housing stock in the areas it services. L&W currently manages more than 300 buildings and, since 1974, L&W has completed the construction and/or rehabilitation of over one hundred buildings. L&W is a past recipient of an award for national excellence for community development partnerships. For more information, please visit HYPERLINK “http://www.lemlewolff.com/“http://www.lemlewolff.com/.
About Halstead Property Development Marketing:
Halstead Property Development Marketing is the exclusive sales and marketing firm for numerous new developments in the tri-state area. They consult with developers on every aspect of the development process, including: pre-development planning such as comprehensive market research, detailed unit mix and layout analysis and amenities planning, all of which enables their clients to maximize sales prices, increase absorption rates and provide an overall superior product benefiting the consumer and developer. In addition, the division directs and coordinates the selection of all on-site personnel, conducts extensive sales training and monitoring, designs exceptional sales environments, and creates integrated communications planning including marketing, advertising, public relations and branding. For more information on the Halstead Property Development Marketing Division, please visit: HYPERLINK “http://www.HalsteadPDM.com/home”http://www.HalsteadPDM.com/.
