June 4, 2020
When we wrote about the initial affordable housing lottery at 111 East 115th back at the beginning of 2018, we questioned how these "affordable" apartments provided any financial relief when they were, in some cases, even more expensive than the market-rate units. The same conundrum holds true now, as the East Harlem rental has just opened up a 250-name waitlist for those earning 130 percent of the area median income. The apartments include $2,253 - $2,675 one-bedrooms and $2,784 - $3,207 two-bedrooms. A recent market-rate one-bedroom rented for $2,575, while a two-bedroom rented for $2,716.
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