The affordable housing lottery has launched for 341 West 38th Street, a 19-story residential building in the Garment District of Midtown, Manhattan. Designed by Stephen B. Jacobs Group and developed by Central Properties LLC, the structure yields 112 residences. Available on NYC Housing Connect are 30 units for residents at 40 to 130 percent of the area median income (AMI), ranging in eligible income from $31,612 to $218,010.
Amenities include bike storage lockers, a shared laundry room, common area Wi-Fi, gym, recreation room, business center, storage, package lockers, elevator doorman, concierge, and outdoor terraces including a rooftop terrace. Units come equipped with washers and dryers, charging outlets with USB ports, high-speed internet, intercoms, air conditioning, and name-brand kitchen appliances, countertops, and finishes. Tenants are responsible for electricity.
At 40 percent of the AMI, there are 12 studios with a monthly rent of $823 for incomes ranging from $31,612 to $49,720.
At 60 percent of the AMI, there are ten one-bedrooms with a monthly rent of $1,374 for incomes ranging from $50,949 to $83,880, and two two-bedrooms with a monthly rent of $1,631 for incomes ranging from $55,920 to $100,620.
At 130 percent of the AMI, there are three studios with a monthly rent of $3,105 for incomes ranging from $106,458 to $161,590; two one-bedrooms with a monthly rent of $3,317 for incomes ranging from $113,726 to $181,740; and one two-bedroom with a monthly rent of $3,963 for incomes ranging from $135,875 to $218,010.
Prospective renters must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than August 19, 2024.
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Shocked at the level of income for the affordable portion. Frankly more Manhattan and Brooklyn projects need that mix. It is done in other cultures – which prevents ghetto-ization. But people in this society seem to like separation. This is a good step though. Ten percent lower income is a good ratio.
so you think normal people should sacrifice – by laws? There’s too little market-rate supply for normal tax payers of NYC