120 Gerry Street Hdfc
120 Gerry St
New York City, New York County, New York 11206

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Funding Programs

120 Gerry Street Hdfc was developed and operates with Federal housing financing. The property utilizes the Low Income Housing Tax Credit Federal housing program to make rent affordable to lower income tenants.

Low Income Housing Tax Credit

The property was developed using the Low Income Housing Tax Credit Program. This program incentivizes investors to inject capital into rental apartments for lower income Americans. The property received a tax credit allocation in 1999. The property was placed in service in 2001. 46 of 46 units at 120 Gerry Street Hdfc are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was located in a Qualified Census Tract and a Difficult Development Area qualifying it for additional tax credit financing.

Overview

120 Gerry Street Hdfc is an affordable apartment community located in New York City, New York which is located in New York County. The property is located in New York's 13th Congressional District served by Representative Adriano Espaillat (D), Senator Charles Schumer (D) and Senator Kirsten Gillibrand (D).

120 Gerry Street Hdfc is an apartment community containing 46 rental units. This property serves all family types. The property contains 113 bedrooms and based on typical apartment occupancy limits, 120 Gerry Street Hdfc is home to not more than 226 persons when fully occupied.

Rental Subsidies

This property does not provide any Federal rent subsidies to renters reducing total tenant payments to 30% of their adjusted income. Renters are required to pay the full rent, even if it is in excess of 30% of their income. In some cases the property may accept Section 8 Housing Choice vouchers.

Unit Mix

120 Gerry Street Hdfc contains a mix of 46 assisted two and three bedroom apartments for rent. There are 25 Two Bedroom and 21 Three Bedroom apartments in this property. The unit mix is 54% Two Bedroom and 46% Three Bedroom apartment rentals. The average bedroom size for 120 Gerry Street Hdfc is 2.46.

New York's 13th

Congressional District

46

Total Units

46

Tax Credit Units

Two and Three

Unit Mix

2.46

Average Bedroom Size

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† These counts are estimates based on the data available from HUD. Learn More About Our Data