Question

Is it possible to buy a green co-op or condo in Brooklyn for under $250,000?

Asked by Cheryl Taylor
Brooklyn, NY

Looking to the future of the renovated housing market in New York. It is hard to find middle-income housing in New York. Can you help locate this market?

Answer

I want to answer your first question by saying that you can definitely buy a condo for around $250,000 in Brooklyn. However, it won't be a green condo. The best way to go about this situation is to buy an apartment in an established building and make it green by performing home renovations.

There is room for middle-income housing in New York. The Bloomberg administration bought a plot of land on the East River in Long Island City and wants to dedicate the land for middle-income housing development. The project is called Hunters Point South and the construction is supposed to start in 2012. Out of 5,000 new units, 60% will be dedicated to middle-income families. Three thousand units will be reserved for families making between $63,000 and $130,000 a year. Besides building condos and rental units, the project is supposed to fill the need for more park space, retail space and schools in the neighborhood.

I hope this answered your questions. Personally, I think that the greenest building is a brownstone built 100 years ago and brought up to the modern standards of energy efficiency.

Tagged In: buy a green home

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