clock menu more-arrow no yes

Filed under:

Lower East Side affordable rentals at former Moscot site start at $1,115/month

New, 9 comments

The nine rentals are available to New Yorkers making upwards of $38,000/year

Courtesy of Jemb Realty

The new residential building rising on the site of the Lower East Side’s former Moscot headquarters is now accepting application for nine apartments through an affordable housing lottery.

The affordable rentals at 118 Orchard Street include eight one-bedroom apartments available to New Yorkers making between 70 and 130 percent of area median income, and one three-bedroom apartment available to households making 130 percent of area median income. The 2019 AMI for the New York City region is $96,100. The apartments come with floor-to-ceiling windows and Juliet balconies.

Here’s how the affordable apartments break down: The three one-bedrooms available to New Yorkers making 70 percent of AMI, or between $38,229 and $67,270 depending on household size, are seeking $1,115/month through the lottery. The five one-bedrooms set aside for New Yorkers earning 130 percent of AMI, or between $78,480 and $124,930 depending on household size, will rent for $2,289/month. The one three-bedroom apartment set aside for households earning 130 percent of AMI, or between $95,212 and $172,120 depending on household size, is asking $2,777/month. The application deadline is September 19, 2019.

The 12-story building at the corner of Delancey Street will have 29 rentals in total and is being developed by Helm Equities. Both the affordable and market-rate apartments have access to the building’s roof deck, laundry room, and package room. The building is expected to be complete in fall of this year.

It replaces the decades-old former Moscot headquarters on the corner of Orchard and Delancey, which was razed in 2017. Before meeting the wrecking ball, the building served as the Rox Gallery.