Make $95,000 a year? You could still qualify for subsidized housing

By Virginia K. Smith | September 16, 2014 - 11:59AM

Depending on your perspective, this is either a welcome reminder of your affordable housing options, or a forehead-slapping bulletin that even the well-off need subsidized housing in NYC: new development Gotham West apparently has a glut of vacant middle-income apartments for renters making up to six figures, according to a New York Post story from the weekend.

Currently, studios, one-bedrooms, two-bedrooms, and three-bedrooms are available at 530 West 45th Street, with income requirements geared toward upper middle-class renters—between $70,423 and $95,865 for a studio that rents for $1,997 a month, for instance; between $88,012 and $109,560 for two people sharing a one-bedroom that's $2,509 a month; and between $105,635 and $123,255 for a family of three sharing a $3,020 a month two-bedroom. (The Gotham West website notes that the building, which first started taking applications for its affordable units in 2012, will be "accepting applications until fully rented and the waitlist is replenished.")

As we've written before, subsidized units in so-called "80/20" buildings are often overlooked as an option for middle-income renters, and indeed, the Post writes that of Gotham West's 682 subsidized units, 250 are designated for low-income renters, and the rest for a range of income brackets topping out at $158,895 a year.

Granted, the income caps are extremely specific, limiting the pool of people who qualify (and more than $2,500 for a one-bedroom isn't anyone's idea of cheap). But if you think you might fit, you can check out Gotham West's full list of requirements and available options here, and further instructions on how to apply here. (You can also read our guide to subsidized rentals in new developments, if you're curious how this set-up works.) After all, an empty apartment is a terrible thing to waste.

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