The affordable housing lottery has launched for 1402 York Avenue, an 11-story residential building on the Upper East Side of Manhattan. Designed by Kossar + Garry Architects and developed by Crest Group, the development consists of ten out of 11 homeownership units being sold at below-market rates. Available on NYC Housing Connect are ten units for residents at 63 percent of the area median income (AMI), ranging in eligible income from $43,488 to $60,165.
A new 11-story building is about to rise on the Upper East Side, between East 74th Street & East 75th Street, along York Avenue. Permits for 1402 York Avenue were issued last month to begin construction on the new affordable housing structure, which will have a masonry and glass facade. The developer of the project is Crest Group.
In April, YIMBY reported on applications for an 11-story, 11-unit residential building at 1402 York Avenue, located between East 74th and 75th streets on the Upper East Side. Now, a rendering has been revealed of the project, via DNAinfo. The units, averaging a spacious 1,926 square feet apiece, surprisingly won’t be condominiums, at least in the beginning. The full-floor rental apartments will be known as “homeownership” units, which means tenants can put their rent payments towards buying their home. Of the 11 residential units, 10 of them will begin by renting at below market-rates. Crest Group is the developer, with Kossar + Garry Architects behind the design.