These renters are buying new co-ops for $2,500. How is that possible? – Robert Khodadadian

A co-op in Chelsea for $2,500 seems like a castle in the air, especially when you compare the architect’s dreamy watercolor illustration of 201-207 7th Avenue to what’s there now. But in 2024, life will imitate art. The property in Chelsea, which has been neglected for over four decades, was unveiled last week as the site for a most unusual affordable homeownership project. The four distressed buildings along Seventh Avenue, which include 14 rental apartments,

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Home Page, Residential Real Estate, Affordable Housing, department of housing preservation and development, homeownership, hpd The Real Deal New York Read More