West 148th Street Cluster 305-307 W 149th St
305 W 149th St
New York City, New York County, New York 10039

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Funding Programs

West 148th Street Cluster 305-307 W 149th St 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 2003 for $123,477 with a 10 year value of $1,234,770. The property was placed in service in 2004. 12 of 24 units at West 148th Street Cluster 305-307 W 149th St 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

West 148th Street Cluster 305-307 W 149th St 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).

West 148th Street Cluster 305-307 W 149th St is an apartment community containing 24 rental units. The property contains 33 bedrooms and based on typical apartment occupancy limits, West 148th Street Cluster 305-307 W 149th St is home to not more than 64 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

West 148th Street Cluster 305-307 W 149th St contains a mix of 24 assisted studio, one, two, and three bedroom apartments for rent. There are 3 Studio, 10 One Bedroom, 10 Two Bedroom, and 1 Three Bedroom apartments in this property. The unit mix is 13% Studio, 42% One Bedroom, 42% Two Bedroom, and 4% Three Bedroom apartment rentals. The average bedroom size for West 148th Street Cluster 305-307 W 149th St is 1.38.

New York's 13th

Congressional District

24

Total Units

12

Tax Credit Units

Studio, One, Two, and Three

Unit Mix

1.38

Average Bedroom Size

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