Articles on The 505

High Five: Clinton Luxury Condo The 505 Gets All-Important FHA Approval

The 505 Clinton Luxury Condo, FHA-approved Manhattan CondosIf it seems like it has been awhile since you've read about a new FHA-approved Manhattan condo development at New Construction Manhattan, that would be because it has been awhile. That is, both awhile since we wrote about it, and awhile since a new Manhattan condo qualified for FHA approval. So long, in fact, that you might've forgotten what it means for a condo to qualify for FHA approval. In short -- or at least shorter than this NCM post, which explains it in more detail -- when a condo gets FHA approval, the Federal Housing Administration has deemed the project both healthy and stable enough that condo buyers at said condo project qualify for government-backed loans at very advantageous rates. The list of NYC condos that have received FHA approvallinks to all of the FHA-approved condo listings in New Construction Manhattan's NYC condo database. Now that list has grown by one, as the Clinton luxury condominium The 505 has been granted FHA approval.