Jupiter 21 is a newly built 12-story, 65-unit residential development at 21 E. First St. in the East Village. Thanks to BFC Partners, the developers of Jupiter 21, nine residents are now owners of units that could easily be rented out for thousands a month, and all it cost them was $10 each. Hit the jump to read more details.
BFC wanted to get rid of the apartments above the now demolished legendary Mars Bar, and in return, long-time residents displaced by construction were the lucky few to get the $10 deal. The apartments were also purchased tax-free. As part of the deal, residents can’t resell the apartments for a profit, but they can rent them out. The agreement was made a couple of years ago.
via Yahoo News
