Several new NYC developments currently have units available, many of which are part of the affordable housing lottery. Here are a few worth a closer look.
Lottery Launched for Affordable Apartments in Midtown
NYC Housing Connect has launched the affordable housing lottery for 19 affordable apartments located in a 47-story Midtown luxury rental. Located at 100 West 31st Street, the building has a total of 375 apartments with market rates ranging from $3,800 for a 500-square-foot studio to $6,300 for a two-bedroom unit. Building amenities include a game room, a laundry room, a 24-hour attended lobby, a roof terrace, a media room and a golf simulator. The affordable units being offered at the COOKFOX-designed building span four income brackets and represent a mix of studios, one-bedroom and two-bedroom units. The income breakdown is as follows:
- Two for those earning 90 percent of the area median income (between $51,532 and $68,760)
- Three for those earning 100 percent of the area median income (between $57,258 and $76,400)
- Three for those earning 110 percent of the area median income (between $67,509 and $104,940)
- 11 for those earning 120 percent of the area median income (between $68,709 and $114,480)
Overall, the rents range between $1,448 per month for a studio and as high as $2,519 per month for a two-bedroom unit.
The building will also be home to Nike’s New York City headquarters, which will reportedly boast a 15,000-square-foot state-of-the-art gym complete with a half-basketball court, a pool, a training area and a spin studio.
Affordable Condos Available at Essex Crossing
Affordable condos at 242 Broome Street in Essex Crossing are now up for grabs. Sales for market-rate condos at that same address went up for sale a little over a year ago, but the affordable housing lottery for 11 affordable condos only recently became available. Of those available, five are one-bedroom units, four are two-bedroom units and two are three-bedroom units.
Prices for the affordable units range from $225,000 to $332,000 and are available to residents making between $65,000 and $138,375 per year, with those living within Community Board 3 getting preference for half of the units. In addition, the condos are only available to those who have previously purchased an apartment in the city.
Sales Launch for Sheepshead Bay Condo
South Brooklyn’s Sheepshead Bay has become a hotbed of new residential development, with the biggest of these projects being the one known as 1 Brooklyn Bay. While sales for that project started at $525,000 this past summer, sales for another new project within the neighborhood have also recently launched.
Known as Onyx Square, the condominium features apartments that place an emphasis on common space while also optimizing space planning. Finishes include Calacatta Caeserstone countertops, oak flooring, stainless steel Bosch appliances and heated floors in the bathroom. The development also boasts more amenities than other new developments in the area. Among these are a yoga and meditation studio, a fitness center, a doorman, an entertainment room, a lounge, an outdoor landscaped courtyard, a children’s playroom and a terrace with furniture and grills.
Twelve of the 65 apartments planned for Onyx Square, which is located right off of King’s Highway near to the B and Q trains, are currently available. Pricing begins at $342,500 for a 436-square-foot studio and goes up to $988,000 for a 1,333-square-foot three-bedroom unit.