Manhattan Luxury Condos Try FHA Backing In Sales 'Game Changer' : News Photo

Manhattan Luxury Condos Try FHA Backing In Sales 'Game Changer'

Credit: 
Bloomberg / Contributor
Ryan Serhant, vice president of Nest Seekers International, a brokerage for residential and vacation properties, sits for a photo at the 99 John Deco Lofts condo building in New York, U.S., on Friday, July 30, 2010. In March, the Federal Housing Administration (FHA) agreed to insure mortgages made at the 442-unit conversion project, allowing buyers to acquire an apartment with a down payment of as little as 3.5 percent. The development had 10 units go into contract with FHA backing, but the agency suspended its support for the building on August 3. Photographer: Ramin Talaie/Bloomberg via Getty Images
Caption:
Ryan Serhant, vice president of Nest Seekers International, a brokerage for residential and vacation properties, sits for a photo at the 99 John Deco Lofts condo building in New York, U.S., on Friday, July 30, 2010. In March, the Federal Housing Administration (FHA) agreed to insure mortgages made at the 442-unit conversion project, allowing buyers to acquire an apartment with a down payment of as little as 3.5 percent. The development had 10 units go into contract with FHA backing, but the agency suspended its support for the building on August 3. Photographer: Ramin Talaie/Bloomberg via Getty Images
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Date created:
July 30, 2010
Editorial #:
103369434
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Not released.More information
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Contact your local office for all commercial or promotional uses.For editorial use only. Additional clearance required for commercial or promotional use, contact your local office for assistance. Any commercial or promotional use of Bloomberg content requires Bloomberg's prior written consent.
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Bloomberg
Credit:
Bloomberg via Getty Images
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Source:
Bloomberg
Object name:
FHA CONDOS

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Ryan Serhant vice president of Nest Seekers International a brokerage... News Photo 103369434Apartment,Built Structure,Business,Civilian,Corporate Business,Economy,Finance,Government,Horizontal,House,Mortgage,New York City,Resident,Residential Structure,Ryan Serhant,Sitting,USA,Vacations,Vice PresidentPhotographer Collection: Bloomberg 2010 BloombergRyan Serhant, vice president of Nest Seekers International, a brokerage for residential and vacation properties, sits for a photo at the 99 John Deco Lofts condo building in New York, U.S., on Friday, July 30, 2010. In March, the Federal Housing Administration (FHA) agreed to insure mortgages made at the 442-unit conversion project, allowing buyers to acquire an apartment with a down payment of as little as 3.5 percent. The development had 10 units go into contract with FHA backing, but the agency suspended its support for the building on August 3. Photographer: Ramin Talaie/Bloomberg via Getty Images