The affordable housing lottery has launched for The Arabella, a nine-story residential building at 4720 3rd Avenue in Belmont, The Bronx. Designed by Ismael Leyva Architects and developed by Vertical Community Development and Sioni Group, the structure yields 165 residences as well as a 60,500-square-foot retail portion designed by Marin Architects. Available on NYC Housing Connect are 60 units for residents at 80 to 130 percent of the area median income (AMI), ranging in eligible income from $80,572 to $250,380.
Amenities include pet-friendly policies, gym with electric vehicle charging stations, a shared laundry room, common area wifi, gym, party room, recreation room, outdoor terrace, virtual doorman, and an on-site resident manager. Residences come equipped with dishwashers, energy-efficient appliances, and intercoms. Tenants are responsible for electricity.
At 80 percent of the AMI, there are 16 one-bedrooms with a monthly rent of $2,206 for incomes ranging from $80,606 to $111,840; 17 two-bedrooms with a monthly rent of $2,629 for incomes ranging from $96,789 to $134,160; and two three-bedrooms with a monthly rent of $3,022 for incomes ranging from $111,943 to $154,080.
At 130 percent of the AMI, there are nine one-bedrooms with a monthly rent of $2,350 for incomes ranging from $80,572 to $181,740; five two-bedrooms with a monthly rent of $2,995 for incomes ranging from $102,686 to $218,010; and one three-bedroom with a monthly rent of $3,950 for incomes ranging from $135,429 to $250,380.
Prospective renters must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than October 11, 2024.
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That third floor would’ve had excellent views of the el.
The Park Ave. trains tend to be at or below grade. The 3rd Ave El disappeared in the 1970s.