28 Below-Market Apartments Offered On Upper East Side

UPPER EAST SIDE, NY — A lottery for 28 newly-developed apartment units in a building on Second Avenue and East 92nd Street is now accepting applications, according to the city's Housing Connect website.

The bulk of the new apartment units are being offered for individuals and families making 60 percent of the area median income — defined as an annual income of $58,480 for an individual and $75,120 for a family of three — according to the city's housing connect website. Rents range from $1,018 per month for a studio to $1,740 for a three-bedroom home.

The cheapest units, studios renting for $1,018 per month, are being offered for individuals earning 70 percent of the area median income. To qualify, applicants must earn between $36,858 and $51,170 per year.

For the 80 percent AMI units individuals must earn at least $42,069 per year to qualify for a studio or $45,018 per year to qualify for a one-bedroom apartment. Families interested in renting two-bedroom units must earn at least $53,863 per year and families interested in a renting a three-bedroom unit must earn at least $62,298 per year.

Here's a chart that breaks down unit rents and eligibility requirements:

Prospective tenants may apply for the lottery through the city's Housing Connect website. A mail-in application can be requested by sending a self-addressed envelope to: 1766-68 Second Avenue Apartments c/o Breaking Ground, PO Box 4624, New York, NY, 10163. Applications must be submitted or postmarked by April 16.

Preference for the new apartments will be given to residents of Manhattan's Community Board 8, which spans the entirety of the Upper East Side, according to the city's housing connect website. At least half of the available units will be awarded to district residents. Preference will also be given to municipal employees (5 percent) and mobility (5 percent) and vision/hearing (2 percent) disabled applicants.

Photo by Google Maps street view