Gouverneur Court
621 Water St
New York City, New York County, New York 10002

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Funding Programs

Gouverneur Court 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 1992. The property was placed in service in 1993. 124 of 124 units at Gouverneur Court 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

Gouverneur Court 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).

Gouverneur Court is an apartment community containing 124 rental units. This property serves all family types, seniors, and disabled persons. The property contains 2 bedrooms and based on typical apartment occupancy limits, Gouverneur Court is home to not more than 127 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

Gouverneur Court contains a mix of 124 assisted studio and two bedroom apartments for rent. There are 123 Studio and 1 Two Bedroom apartments in this property. The unit mix is 99% Studio and 1% Two Bedroom apartment rentals. The average bedroom size for Gouverneur Court is 0.02.

New York's 13th

Congressional District

124

Total Units

124

Tax Credit Units

124

Senior Units

Studio and Two

Unit Mix

0.02

Average Bedroom Size

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