Nine lucky renters got $10 per month NYC apartments

June 8, 2013 at 8:46 PM   |   Comments

NEW YORK, June 8 (UPI) -- Nine people who had lived above the now-demolished Mars Bar in New York's East Village got nice new apartments for $10 a month, a developer says.

How did they get such a good deal in a neighborhood where apartments average $3,418 a month? They happened to have been long-time residents of an old building sitting on land BFC Partners wanted to redevelop into a 12-story, 65-unit residential, commercial and retail building called Jupiter 21, Yahoo! News reported Thursday.

The nine had to find alternate living arrangements for a couple of years while the new building went up and they can't resell their apartments for a profit, but they can rent them out.

BFC's Joseph Ferrara said the arrangement made financial sense for the developer.

"If it wasn't for the existing residents that were living in a very dilapidated building prior to us constructing Jupiter 21, we would never have a project at this location," he said. "We felt we owed it to them to replace their home with a brand new, modern apartment in a building that is being well-received into the community.

"We hope the existing and new residents thrive in their new environments and enjoy all the amenities that Jupiter 21 has to offer."

Studios and one- and two-bedroom apartments in Jupiter 21 go for $3,000 to $10,000 a month.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
Notable deaths of 2014 [PHOTOS]

Notable deaths of 2014 [PHOTOS]

Most Popular
Albino crocodile named for Michael Jackson shot dead after eating fisherman
Watch as driver leaps from motorcycle mid-crash and lands safely on moving car
Thai woman posts more than 12,000 selfies
Indian boy with hands larger than his head can't even tie shoes
Wanted Washington man crashes car into police hunting for him
Trending News