Lottery Launches for 29 Affordable Units at Extell's 70 Charlton in West Soho, From $833/Month

Lottery Launches for 29 Affordable Units at Extell’s 70 Charlton in West Soho, From $833/Month

May 17, 2016

It’s not too often that affordable housing opportunities arise in prime downtown areas like West Soho, but starting tomorrow, 70 Charlton Street will begin accepting applications for 29 of its below-market-rate apartments. The Beyer Blinder Belle-designed building is of the luxury persuasion, developed by none other than Extell. In total there are 116 residences; 92 are high-end co-ops (currently priced between $1.6M and $7.1M) with interiors crafted by Workshop/APD in one building, and the rest affordable units situated in a connected building. According to the Housing Connect website, studios will start at $833/month, one-bedrooms will go for $895/month and two-bedrooms for $1,082/month.

70 Charlton was developed under the city’s Inclusionary Housing Program and 421-a Tax Incentive program which has required developer Extell to designate 20 percent of the units as affordable. As it stands, there seven studios, two one-bedrooms, and 20 two-bedrooms available to households of one to four people earning between $29,898 and $54,360 per year. Preference will be given to those currently living in Manhattan CB2.

Unlike Extell’s supertalls, the 21-story 70 Charlton forgoes glass in favor of a brick and black steel facade—clearly an architectural nod to the area’s industrial past. Amenities include a landscaped courtyard, outdoor sports court, residents’ lounge, children’s playroom, pool, gym and steam room. Other bonuses are a location close to the Hudson River Park, as well all the retail, dining and convenience that comes with living downtown.

The lottery officially opens tomorrow and applications will be taken until July 20, 2016. Apply here.

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