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Somewhere in Manhattan, There's a $1,995 Apartment for Sale

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Here's one case where the rent vs. buy calculation becomes just a bit easier?there's a 1BR co-op for sale in Manhattan for $1,995. It's part of the latest Department of Housing Preservation and Development lottery, and Malcolm Carter has the deets. The apartment is limited to one to three residents with incomes between $46,500 and $59,800, and the carrying charges will be $388/month or 30 percent of the occupants' gross income, whichever is higher. Enter the lottery by sending HPD a postcard (from the beach?) by July 16. Winners of the lottery (and there will be 500 of them) are asked to pay a $100 application fee in order to be put on a waiting list for apartments. As for the apartments themselves, HPD won't reveal any details about where they are or what they look like. Still, worth a postcard, perhaps.
· Purchase a 1BR Manhattan apartment for $1,995 [Malcolm Carter]