The affordable housing lottery has launched for three gut-renovated buildings at 406 East 10th Street, 533 East 11th Street, and 195 Avenue C in the Alphabet City section of Manhattan’s East Village. Developed by Affordable Neighborhood Cooperative Program of the New York City Department of Housing Preservation and Development, occupancy is anticipated for summer-fall of 2025. Available on NYC Housing Connect are 21 units for residents at 110 percent of the area median income (AMI), ranging in eligible income from $83,016 to $211,860.
406 East 10th Street on Manhattan’s Lower East Side via Google Maps
Units are located on the third, fourth, and fifth floors and include energy-efficient appliances. Each buyer must occupy the cooperative as their primary residence. Prospective appliances who currently own or have previously purchased a residential property are not eligible. Eligible buyers should have 3 percent of the purchase price for a down payment.
195 Avenue C on Manhattan’s Lower East Side via Google Maps
At 110 percent of the AMI, there are four studios with an estimated sale price of $260,582 for incomes ranging from $83,016 to $136,730; 14 two-bedrooms with an estimated sale price of $334,556 for incomes ranging from $105,779 to $184,470; and three three-bedrooms with an estimated sale price of $386,372 for incomes ranging from $121,662 to $211,860.
Prospective homeowners must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than February 13, 2025.
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I’m pleased as punch they gave these buildings their cornices back, I just wish they could do it in a historically accurate way. You’d think in a city with tens of thousands of cornices there would be some institutional knowledge regarding this.