Affordable Housing Lottery Kicks Off at 1770 Madison Avenue–Units Start at $822/Month
Starting tomorrow, qualifying New Yorkers will get the chance to apply for one of seven available units at a brand spanking new development located at 1770 Madison Avenue in East Harlem. According to the NYC HPD, studios will start at $822 a month, while one-bedrooms will go for $886 a month.
The new rental building wrapped construction at the end of 2015 and market rate units were listed in December with studios priced at $2,295 a month and up to $2,995 for a one-bedroom. Lucky lottery winners and market rate renters at this address will enjoy a locale just four blocks from Central Park and the convenience of living next to the 2, 3 and 6 trains.
Individuals earning between $28,183-$36,300 can apply for a studio apartment; those earning between $30,378-$36,300 annually qualify for a one-bedroom apartment. Households of two or more with an annual income of $30,378-$41,460 can also apply for a one-bedroom.
Apartments are pretty standard-looking new constructions, but are afforded floor-to-ceiling windows and other perks that include built-in Bluetooth speakers, video intercoms, in-residence washer/dryers, hardwood flooring, stainless steel appliances, oversized private terraces in many units and Italian tiled baths, according to several listings. The building is also topped with a common roof deck with city views, as well as offering bike storage below.
Previously, the old Public National Bank sat on the site (used as a church decades ago) but was demolished–to the disappointment of many who hoped that it would be restored.
Those who qualify can apply here. Market rate renters can view all available listing here.
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Six units available and probably 80,000 aplications! Is it worth mentioning it!