19 affordable co-ops in Harlem available, from $220K
357 West 115th Street under renovation. © 2024 Google
Here’s a rare opportunity to buy an affordable apartment in Manhattan. City-owned buildings in Harlem, at 357 West 115th Street and 321 West 116th Street, have been redeveloped and converted into affordable two- and three-bedroom co-ops through the Affordable Neighborhood Co-operative Program (ANCP). The city opened a housing lottery for 19 co-ops, priced from $220,000 and available to New Yorkers earning up to 80 percent of the area median income.
The property at 357 115th Street was devastated by a four-alarm fire in January 2021 that engulfed two floors and injured 17 firefighters, all with minor injuries, according to amNY.
The building had already been slated for a major renovation after years of disrepair and takeover by the city’s Department of Housing Preservation and Development under the ANCP, as the Daily News reported.
The project is part of a broader cluster of properties known as ANCP Morningside, a joint venture between Habitat for Humanity NYC and Westchester and the developer Genesis. The project includes three buildings on Manhattan Avenue, West 115th Street, and West 116th Street.
All of the buildings were previously part of the city’s Tenant Interim Lease (TIL) program before being transferred to the ANCP and entering city ownership through in-rem foreclosure.
ANCP allows for developers to rehabilitate distressed, city-owned properties managed by TIL and convert them into affordable co-operatives for low-and moderate-income households.
Prospective buyers must occupy the co-op as their primary residence. Applicants who currently own or have previously owned or purchased an interest in residential property are not eligible. Eligible buyers should have three percent of the purchase price available for a down payment. Occupancy is expected in the summer and fall of 2026.
An informational webinar on the co-ops and application process will be held on March 25 at 6 p.m. Seminar attendance is recommended but not mandatory to purchase.
- Wednesday, March 25, at 6 p.m. Register here: https://us06web.zoom.us/meeting/register/zQR2Mt6vS5eTg0So_2_eJA
Qualifying New Yorkers can apply for the co-ops until April 13, 2026. Find more details on how to apply here.
Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.
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