Developers Announce $8,000 Cash “Credit” for Contracts Signed Prior to July 31
New York, NY – May 24, 2010 – (RealEstateRama) — Since the federal tax credit expired at the end of April, the real estate industry nationwide has seen a slight lull in activity. The developers of Beacon Towers, a new cooperative residential development in Harlem, announced today that they will offer their own “tax credit” to buyers, in addition to affordable prices.
The Beacon Towers Tax Credit will give buyers $8,000 cash upon closing. The Beacon Credit will function even better than the Federal program did since every purchaser will qualify and there are no restrictions. The cash can be used to cover the costs of general living expenses, can be applied towards the building’s monthly mortgage or maintenance charges, or for the buyer’s personal savings. The credit will be available on new contracts signed between now and July 31, 2010.
During Memorial Day weekend, the developers are also offering a free iPad as an additional incentive on any new contracts signed during the three-day weekend.
An eight-story newly constructed building, Beacon Towers is located at 29 West 138th Street and is currently over 80% sold. Prices range from $275,000 – $280,000 for one bedroom and from $375,000 – $607,000 for two bedroom homes. Construction on the project is complete and occupancy is immediate with no board approval required. The building has a 421-a real estate tax abatement for 25 years and offers amenities such as a fitness center, an interior courtyard and a parking garage. There are units which have private terraces and others with river views; for a full list of available units and floor plans, please visit: http://www.beacontowersliving.com/.
Beacon Towers is a joint venture between 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.
Located on 138th Street between 5th and Lenox Avenues in one of Harlem’s architecturally and historically significant neighborhoods, Beacon Towers is surrounded by cultural institutions, public and private elementary and secondary schools, high schools, restaurants, and shops. The Harlem River Drive entrance is only one block away and numerous subway and bus lines are accessible within walking distance.
Beacon Towers is being exclusively marketed and sold by Halstead Property Development Marketing. For renderings and floor plans, please visit http://www.beacontowersliving.com or contact Megan Raphael at megan (at) mediashoppr (dot) com or 212-867-8778 x 232.
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: http://www.strategic-construction.com
About Lemle & Wolf, 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 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: http://www.HalsteadPDM.com/.
