Lottery launches for 129 apartments at South Bronx luxury rental, from $2,150/month

A housing lottery launched on Friday for 129 middle-income units at a new rental project in the South Bronx. The Arches, a pair of 25-story towers on the Harlem River, claims to be the first luxury residential development in Mott Haven, boasting amenities like a landscaped rooftop, indoor movie theater, and fitness center. Qualifying New Yorkers earning 130 percent of the area median income can apply for the units, which include $2,150/month studios, $2,246/month one-bedrooms, and $2,730/month two-bedrooms.

Located at 224-228 East 135th Street, the project includes a mix of 430 studio, one-, and two-bedroom apartments. The Arches also contains a 25-room hotel and 6,000 square feet of ground-floor retail. Leasing also kicked off this week for the market-rate rentals.

Current availabilities (with incentives) start at $2,246/month for a studio, $2,613/month for a one-bedroom, and $2,933/month for a two-bedroom, according to The Arches website.

Developed by Chess Builders and designed by Fischer + Makooi Architects, residences at the Arches boast high-end finishes, floor-to-ceiling windows, with some apartments featuring private terraces and balconies. Premium units feature Control4, which allows residents to control the front door lock, music, and thermostats through smartphone devices.

Amenities include a health club, yoga studio, a business center with a private conference room, movie theater, a children’s playroom, and a library with a fireplace. Plus, residents can enjoy a landscaped roof garden and outdoor lounge with a fireplace and sweeping skyline views.

“The South Bronx has a rich cultural history, and Mott Haven’s housing renaissance is emblematic of the bright future that lies ahead for the blossoming neighborhood,” Michelle Monko, director of business development at EXR. “From the high-quality finishes and spacious floor plans to the first-class amenities, services and unparalleled views, The Arches sets a standard of elevated quality for the numerous residential developments that are currently under construction in the neighborhood.”

The project is also conveniently located between the 4,5 trains at 138th Street and the 6 train at 3 Avenue-138 Avenue, making a commute to Grand Central less than 30 minutes. The Arches is also within walking distance to a number of bars and restaurants that have popped up along Mott Haven’s waterfront as part of the neighborhood’s revitalization.

Thanks to a rezoning of the Bronx waterfront a decade prior, a number of new developments are in the works, including 1,350-unit Bankside developed by Brookfield Properties and the Joinery, a luxury condo building.

Qualifying New Yorkers can apply for the affordable units until October 14, 2020. Complete details on how to apply are available here. Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.

If you don’t qualify for the housing lotteries mentioned, visit CityRealty.com’s no-fee rentals page for other apartment deals in the city.

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All images courtesy of EXR Realty/The Arches