Last June, Mitsui Fudosan, one of the largest real estate companies in Japan, bought a majority stake in Taconic Investment Partners‘ 525 West 52nd Street, a $330 million rental development between 10th and 11th Avenues. As the Journal reported at the time, the two-towered Hell’s Kitchen project (one is 22 stories, the other 14) will offer 392 apartments with 80 set aside for low-income residents, as it was developed through the city’s 421-a program. Now, those affordable units have come online through the city’s housing lottery, and they range from $913/month studios to $1,183/month two-bedrooms.
In addition to a location in one of Manhattan’s up-and-coming ‘hoods, residents of the Handel Architects-designed building will be afforded access to a luxurious amenity package, which includes a 24-hour concierge, library, sports lounge, screening room, golf simulators, fitness center, pet spa, party room, and outdoor roof decks.
Qualifying New Yorkers can apply for the affordable units at 525 West 52nd Street beginning tomorrow, August 9, until October 8, 2016. Residents of Manhattan Community Board 4 will be given preference for 50 percent of the units. Complete details on how to apply are available here (pdf). Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.
Use 6sqft’s map below to find even more ongoing housing lotteries.
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. You can also view 525 West 52nd Street’s future market-rate listings here.
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Neighborhoods : Hell's Kitchen