Housing Lottery Launches for 1026 Third Avenue on the Upper East Side of Manhattan

The affordable housing lottery has launched for 1026 Third Avenue, a 24-story residential building on Manhattan’s Upper East Side. Designed by Ismael Leyva Architects and developed by Kahen Properties, the structure yields 81 residences. Available on NYC Housing Connect are 27 units for residents at 40 to 130 percent of the area median income (AMI), ranging in eligible income from $38,572 to $218,010.

Amenities include pet-friendly policies, bike storage lockers, party room, gym, business center, storage, and a rooftop terrace. Residences come equipped with washers and dryers, energy-efficient appliances, air conditioning, hardwood floors, charging outlets with USB ports, intercoms, and name-brand kitchen appliances, countertops, and finishes. Tenants are responsible for electricity, including heat and electric stove.

At 40 percent of the AMI, there are 11 studios with a monthly rent of $960 for incomes ranging from $38,572 to $49,720.

At 60 percent of the AMI, there is one studio with a monthly rent of $1,503 for incomes ranging from $57,189 to $74,580; nine one-bedrooms with a monthly rent of $1,601 for incomes ranging from $61,406 to $83,880; and one two-bedroom with a monthly rent of $1,901 for incomes ranging from $73,886 to $100,620.

At 130 percent of the AMI, there are two one-bedrooms with a monthly rent of $3,640 for incomes ranging from $124,800 to $181,740, and three two-bedrooms with a monthly rent of $4,347 for incomes ranging from $149,040 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 May 16, 2025.

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