In an expensive city like New York, $10 doesn’t get you much. But for nine tenants who occupied two small buildings along Second Avenue for decades, their ten bucks will buy them a two bedroom, tax-free apartment in a fancy pants luxury high-rise. The tenants struck a deal with BFC Partners a few years ago to buy cooperative units in a new 12-story, 65-unit building called Jupiter 21, where market rate rents range from $3,000 to $10,000 per month. Now complete, the tenants are finally ready to move in to their new digs overlooking the Manhattan Bridge.
The new Jupiter building replaced two old buildings in the East Village—one of which housed the treasured Mars Bar. Though the demolition of old-school neighborhood history brought much upheaval among the locals wanting to hold onto the fading culture of the place they called home, BFC kept its promise to offer 9 of the 13 affordable units for purchase by Mars Bar building tenants.
The tenants will now be owners of a luxury apartment, designed by GF55 Partners, which boasts lots of sunlight, a built-in washer and dryer, walnut floors, a rooftop terrace and even a serenity garden. The other four units will be sold by lottery $150,000 to residents making under $64,000.
“I don’t know who these people are,” said tenant John Vaccaro, 81, to Crain’s New York, as he motioned to the street below his second-floor loft. But he’s not going to pass up this great deal. “They’re giving me a two-bedroom apartment. That sounds fab.”