Lottery Opens For 21 Below-Market UES Apartments For Sale

UPPER EAST SIDE, NY — A lottery for 21 below-market rate apartments at the new high-rise development The Kent, located on West 95th Street and Third Avenue, is now accepting applications, according to the New York City Housing Partnership.

The below-market units include five studios, five one-bedroom apartments and 11 two-bedroom apartments, according to the New York City Housing Partnership. The studios are being offered at prices as low as $356,700, the one-bedrooms are being offered at prices as low as $339,500 and the two-bedrooms are being offered at prices as low as $366,300. It's not pocket change, but it's a good value compared to The Kent's multimillion-dollar market units.

The apartments are eligible to individuals earning an annual salary of at least $79,333 and families of four earning an annual salary of at least $93,500. Income caps for the units are set at $83,500 for individuals and $119,250 for families of four, according to the New York City Housing Partnership.

Check out a detailed chart below:

Prospective home buyers can apply for one of the units by sending an application to: 200 E. 95th St., P.O. Box 781, New York, NY 10018. Applications can be downloaded on the New York City Housing Partnership's website and must be postmarked by May 17, 2018. Applicants must intend to make The Kent their primary residents if they are selected for one of the apartments.

Fifty percent of the below-market units are reserved for current residents of Community District 8 — which spans most of the Upper East Side. An additional 5 percent are reserved for city employees, five percent are reserved for mobility-impaired applicants and 2 percent of the units are reserved for vision- and hearing-impaired applicants.

The apartments are being offered at below-market rates because The Kent is being developed through the 421-A tax abatement program of the city Department of Housing Preservation and Development and the state Affordable Housing Corporation.

Rendering courtesy NYC Housing Partnership/Williams New York