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The lower levels also contain 27 [49] or 29 studio apartments for tenants' live-in servants. [ 15 ] [ 36 ] These units originally cost $650,000 to $1.74 million, though they could only be purchased along with an apartment; [ 50 ] some of these apartments were sold for more than $2 million. [ 36 ]
It was the first apartment development in the United States to receive federal funding. [3] The average cost of "Lung Block" to Knickerbocker Village was high: $3.116 million, or $14 per square foot. The development's tax assessment was reduced by two-thirds to bring the monthly room rental down to the $12.50 stipulated by the RFC.
Southbridge consists of four 27-story towers and five 6-story buildings, which collectively include 1,651 apartments with a total of 331,577 square feet (30,804.5 m 2) of floor area. [ 1 ] In October 2005, the cooperative's board of directors voted to undertake a study that could cost up to $25,000 to explore privatization of the building complex.
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To call it a studio is generous. It was about 54 square feet, a 9-by-6-foot room with no bathroom or kitchen. It took less than three seconds for the camera to capture the entirety of the unit.
Lower Manhattan had very few people living in it from the 1970s to the 1990s, with the neighborhood emptying out at night as the office workers went home, elsewhere. The redevelopment is part of a trend since 2000 whereby the area has become somewhat more balanced, with more residential space and fewer office buildings.
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