The affordable housing lottery for the Durst Organization‘s nearly finished rental tower EŌS at 855 Sixth Avenue launches today, according to the NYC HPD. One year ago, 6sqft reported on the 42-story structure’s topping out, which at exactly 500 feet makes it officially tied as the shortest skyscraper in the city. Now, with full leasing slated to begin this spring, the application process for the 75 newly constructed, below-market rate apartments set aside for low-income residents is open. Rents in the Midtown West tower will range from $566/month studios to $930/month two-bedroom units.
The glass tower ascends from a full block front of Sixth Avenue between West 30th and West 31st Streets near Herald Square and is designed by the environmentally conscious firm of COOKFOX Architects and developed by the Durst Organization, who also are behind Bjarke Ingels’ VIA 57 West (aka “the pyramid”). The mixed-use, 570,000-square-foot building has a commercial podium containing 120,000 square feet of office space and 70,000 square feet of retail. Nike has been snagged as the commercial anchor tenant and will relocated from 111 Eighth Avenue. Separate entrances, lobbies, and elevators are provided for residential and commercial tenants.
As part of the city’s Inclusionary Housing and 421-a tax incentive programs, 20 percent of the building’s 375 apartments are set aside for low income tenants. Like many lotteries, 50 percent of EŌS’ 75 affordable units will be reserved for residents within the community district (Community District 5 in this case); five percent reserved for municipal employees; five percent for mobility-disabled applicants; and two percent for vision- or hearing-disabled applicants.
There will be three studio apartments available for single persons with annual gross incomes of $20,743 to $24,200 ($566 monthly rent) and 13 studios for those who earn between $25,920 and $30,250 ($717 monthly rent); 49 one-bedrooms for 1-2 person households with annual incomes ranging from $22,218 to $34,550 ($608 or $770, depending on income); and 10 two-bedroom units for 2-4 person households making between $26,640 and $43,150 ($736 or $930).
Amenities will include a 24-hour attended lobby and a coin-operated laundry room. The ad notes that additional fees may apply for usage of the the building’s recreational facilities and bike room. No reveal on pricing for the remaining market-rate units, but a teaser site has recently been launched. Rents will most likely be comparable to those at The Continental and The Beatrice towers next door, where available apartments range from $3,655 for a studio to $21,000 for a three-bedroom penthouse.
Google Earth rendering courtesy of TJ/CityRealty
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Renderings courtesy of COOKFOX Architects
Neighborhoods : Midtown West