The incredible deal to buy a New York apartment for only TEN dollars is not a hoax.

Nine lucky tenants who currently live above a rowdy bar in New York's East Village have the option to buy a newly built designer apartment unit on the same spot, as plans are underway to demolish and rebuild the site.

A modern 13-apartment condominium will replace the infamous Mars Bar as part of an affordable housing project. The four remaining units will be sold by lottery for some $150,000 to people with income smaller than $64,000, according to developers BFC Partners.