Waitlist Opens For Below-Market Units At Midtown Development

MIDTOWN MANHATTAN, NY — A Midtown Manhattan development located a few blocks away from the up-and-coming Hudson Yards neighborhood has opened its waitlist for below-market units for middle-income households.

Apartments at the Hudson Crossing development on West 37th Street and Ninth Avenue are being offered at rents ranging from $1,405 per month for a studio to $2,174 per month for a two-bedroom apartment. Prospective tenants must earn 80% of the area median income — an annual salary of at least $50,126 for a studio and at least $57,292 for a two bedroom — to be eligible for the units.

The rents and income requirements aren't "affordable" for many low-income New Yorkers, but are a bargain compared to market rate units at Hudson crossing. Rents for market rate studios at the development start at $2,797 and rents for market rate two-bedroom apartments start at $5,210.

Here's a more detailed breakdown of the units and eligibility requirements:

Amenities for residents of Hudson Crossing include a 24-hour concierge, a fitness center, a sun deck and an on-site laundry facility.

Applications will be accepted until the development's vacant units are filled and its waitlist has been fully replenished, according to the New York City Housing Development Corporation. Applications will be processed in the order they are received, so the sooner you apply the better chance you have to score one of the apartments.

Below-market units at the Hudson Crossing development are offered through the NYCHDC's 80/20 program, which offers developers tax breaks if 20% of the building's apartments are offered at below-market rates.