With housing costs continuing to climb across New York City, the idea of homeownership can feel increasingly out of reach for many residents. But a new opportunity in the Bronx is turning heads, offering a rare chance to own a cooperative apartment for prices starting as low as $11,000.
A waitlist has officially reopened for available units at Mayflower Terrace, located at 1720 Mayflower Avenue in Pelham Bay. The Mitchell-Lama housing cooperative includes a limited number of apartments with significantly reduced purchase prices compared to typical NYC real estate, along with monthly maintenance fees designed to keep long-term costs more manageable.
🏡 What’s available at Mayflower Terrace
The building offers a range of unit sizes, making it accessible to different household needs—from single residents to larger families.
Studio apartments start at just $11,000 with monthly maintenance fees of about $690, while one-bedroom units range from $13,000 to $17,600. Two-bedroom apartments are priced between $17,000 and $21,500, and three-bedroom units range from $20,100 to $23,200.
âś… Income and household eligibility requirements
Eligibility is based on both income and household size, with guidelines designed to support a wide range of New Yorkers. Studios and one-bedrooms are available to households earning up to $108,700 and $124,300 respectively, while larger units extend eligibility up to $180,100 for qualifying families of up to six people.
These income thresholds ensure the development remains accessible to middle- and moderate-income residents who might otherwise be priced out of homeownership in the city.
📋 How to apply for the waitlist
New Yorkers interested in applying can submit an application online, or request a paper application by calling (212) 560-6484 or emailing creyes@centuryny.com. Additional listing information is also available through the New York State Housing Search portal.
