New Buildings for Sale in BK

Red Green, Ltd. is pleased to announce that applications are now beingaccepted for 11 three family homes located in the East New York section ofBrooklyn. These properties will be offeredto qualified purchasers through the New York City Department of HousingPreservation and Development’s New Foundations Program.To qualify for the three family homes priced at $370,000 applicants cannothave an annual income greater than $ 65,760 (80% AMI). Maximum income mayvary based on family size.To qualify for the three family homes priced at $425,000, applicants cannothave an annual income greater than $82,200 (100% AMI). Maximum income mayvary based on family size.There is no income limit to qualify for the three family homes priced at$561,667.A suitable combination of income and assets may also qualify applicants forconsideration.All applicants must meet financial and other requirements includingsufficient combined incometo qualify for mortgage financing, sufficient funds to cover down paymentand closing costs, good credit, and additional selection criteria.To request an application please write to Red Green, LTD 244 Madison Avenue,Box # 381 New York, NY 10016 and be sure to include a self addressedenvelope. Completed applications mustbe returned by regular mail only (no certified, registered, express, orpriority mail will beaccepted) to the post office box number listed in the application. Allapplications must be postmarked by August 30, 2006. Applications postmarkedafter August 30, 2006 will be set asidefor possible future consideration. Applications will be selected by lottery.Applicants or co-applicants who submit more than one application will bedisqualified. Duplicate copies will not be accepted.Preference will be given to New York City residents. Current residents ofBrooklyn CommunityDistrict 3 and 16 will receive preference for 50% of the units; activeuniformed New York City police officers will receive preference for 5% ofthe units; municipal employees of the City of New York will receivepreference for 5% of the units. Prospective applicants who currently own, orhave in the last five years owned a residence developed under an HPD, NYCPartnership or NYC Housing Development Corporation project or program areineligible.Three Family Homes Price289, 287, 285, 283 and 381 McDougal Street is $370,000279, 277 and 275 McDougal Street is $425,000887, 889 and 891 Greene Avenue is $561,667