The 36-story Yorkville building at 205 East 92nd Street has launched the housing lottery on its affordable units, 6sqft reports. The Related Companies developed building has a total of 231 units out of which 47 have been set aside for affordable housing.
The breakdown for the 47 affordable units is as follows:
There are three one-bedrooms priced at $607 per month. They will be open to an individual with an income ranging from $22,218 to $24,200 and to a two-person family with an income between $22,218 and $27,640.
There are 17 one-bedroom apartments priced at $769 per month. Those are open to an individual with an income from $27,772 to $30,250, and for two people from $27,772 to $34,550.
There are five two-bedrooms priced at $736 per month. For a two person family the income range is $26,775-$27,640, for three people its $26,775-$31,080, and for four people it is $26,775-$34,520.
And finally 22 two-bedrooms for $930 per month open to two person families from $33,326-$34,500, three from $33,326-$38,850, and four from $33,326-$43,150.
The building was constructed under the 421-a tax exempt program which requires the developer to set aside 20 percent of the units in the building as affordable units. Construction work has been moving rapidly on the building, which has already topped out, and residents are expected to move in sometime early next year.
Half of the affordable units will be open only for residents of Manhattan's Community Board 8, which includes parts of the Upper East Side and Yorkville. Another five percent will be saved for municipal employees..
In comparison to the affordable units, the median price for a one-bedroom in Yorkville is $3,210 per month and the price for a two-bedroom is $5,398, according to 6sqft. The project was designed by Handel Architects.
· Affordable Housing Application [NYC Housing Connect]
· Affordable Housing Lottery Launched for Related's Yorkville Rental Tower at 205 East 92nd Street [6sqft]
· Related's Huge Upper East Side Tower Reaches Full Height [Curbed]
· 20 East 92nd Street Archives [Curbed]