Housing lottery opens for 114 rent-stabilized apartments in Hudson Yards
- New Yorkers who earn $59,280 to $209,625 are eligible to apply and rents start at $1,655 for a studio
- There's a fee to use the gym, terrace, lounge, and co-working spaces at the pet-friendly building
A rendering of the lower floors of the building at 550 10th Ave. between West 40th and West 41st streets.
Housing lottery applications are open for 114 rent-stabilized apartments at a new development at the intersection of two Manhattan enclaves: Hell’s Kitchen and Hudson Yards. New Yorkers who earn $59,280 to $209,625 are eligible to apply, depending on the size of the household. Rents start at $1,655 for a studio.
The pet-friendly building at 550 10th Ave. has a gym, terrace, lounge, recreation rooms, and co-working spaces, but developer and owner Gotham Organization plans to charge fees for access to those amenities. The property is located near the Port Authority Bus Terminal and the 42nd Street Port Authority subway station serving the A, C, and E subway lines.
Designed by Handel Architects, the 46-story tower between West 40th and West 41st streets has 453 apartments total, according to Gotham. It will hold ground-floor stores and an office space for the Covenant House, a nonprofit that provides housing for young people facing homelessness.
The apartments are set aside for New Yorkers earning from 70 to 125 percent of the area median income (AMI)—a metric that depends on how many people you live with. Currently the AMI for New York City is $124,300 for a two-person household. The apartments available include studios as well as one-bedroom and two-bedroom units.
There are 39 one-bedroom apartments available for households earning from $113,452 to $174,750. The rent for these apartments is $3,225.
The developers have set aside 20 percent of the rent-stabilized apartments for applicants who already live in the area. Future lotteries will use a lower ratio as a result of a lawsuit settlement, which claimed the practice of community preference perpetuates segregation and violates the Fair Housing Act. Check out: "NYC agrees to cut percentage of housing lottery units set aside for nearby residents."
Another 5 percent of the apartments will be preferentially given to NYC employees. A small percentage of the apartments are also set aside for residents with mobility, vision, and hearing needs.
Applications must be submitted online or postmarked no later than Oct. 9th.
If you’re interested and think you might qualify for one of these apartments, you can create a profile and apply online via NYC Housing Connect. For details on this particular lottery, click here. Don’t apply more than once, or you could be disqualified.
Winning a rent-stabilized apartment can be life changing: Rent increases are capped and lease renewals are automatic, providing long-term stability for NYC renters. Need more information on how the housing lottery works? Check out “6 steps for applying to NYC's affordable housing lottery.”
For some advice from successful applicants read “How to land a rental apartment through NYC's affordable housing lottery.” And if you or someone you know is having trouble with the application process, consider reaching out to a housing ambassador in the community.
Note: Brick Underground is in no way affiliated with New York City’s Department of Housing Preservation and Development or the Housing Development Corporation. If you are interested in applying to these or other affordable housing developments, please go to NYC Housing Connect for information and instructions.
Have you successfully won an apartment through the affordable housing lottery? If you have first-person advice to share about the process, we’d love to hear from you. Please send us an email. We respect all requests for anonymity.
