New agreement cements Park Slope building to be affordable for all tenants
The building will also undergo renovation to improve quality of life for older residents.
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Stellar Management announced Thursday the closing on a regulatory agreement for a building on 341 10th St. in Park Slope.
This agreement will ensure that the entire building is 100% affordable for its tenants. In the past, only 38 apartments were considered "fair market units."
The agreement assures that 102 units will be affordable for New Yorkers with household incomes below the 55% area median income, which would mean a blended affordability of 72% median income across all of the units.
The building will also undergo renovation to improve quality of life for older residents.
