While not an exact number, as public housing rent charges depend somewhat on location and annual family income (currently family of four low-income threshold is about $68K per year) but at an average monthly rental fee in NYC for a three room (i.e., 2 bedrooms for that family of four) public housing apartment is about
$600, So, an estimate of the cost of the reported one-month's rent for the 160 units in his grandmother's building is approx
$96K (let's round it to
$100K). Yes, he can likely afford it, but still $100K is still a magnanimous gesture. Well done, Michael.
This Weekend Update Update has been brought to you by:
Ron Casalotti
Formerly from Wayne, now Monroe Twp,, NJ