The complete terms are available in the Offering Plan from the Sponsor. CD07-0225. Sponsor: Arverne/Briarwood II, LLC. 36-35 Bell Boulevard, Bayside, New York, 11361. Selling Agent: Briarwood Properties, Inc. All purchasers must have good credit history. Owner occupancy is required for Purchasers. Prospective applicants who currently own or have, within the last 5 years prior to the date of their application for these apartments, purchased a government subsidized home will be ineligible to purchase a home. *$312,000 purchase price based on purchaser qualifying for full subsidy. ** One-year of no common charges based on three-bedroom maintenance charges for typical apartment.***Closing cost credit offer applies to buyers in completed phas only.**** Flat-screen television offer and all prices, income & asset limits are subject to change. ****** Your new home at Waters Edge enjoys a 20-year tax abatement. For the first 10 years, taxes are payable only on land - your home is 100% exempt. Contracts are subject to approval by the New York City Department of Housing Preservation & Development and the Housing Partnership.