The affordable housing lottery has launched for 325 East 25th Street, a nine-story residential building in Kips Bay, Manhattan. Designed by SLCE Architects, the structure yields 56 residences. Available on NYC Housing Connect are 55 units for residents at 80 to 165 percent of the area median income (AMI), ranging in eligible income from $48,755 to $177,210.
Amenities include bike storage lockers, a shared laundry room, storage, gym, and outdoor areas. Rent includes gas for cooking and heat and hot water, and tenants pay for basic electricity
At 80 percent of the AMI, there are 22 two-bedrooms with a monthly rent of $1,458 for incomes ranging from $49,989 to $103,120. At 120 percent of the AMI, there are 11 units ranging from studios to two-bedrooms, with a monthly rent ranging from $1,758 to $2,216 for incomes ranging from $60,275 to $154,680. At 145 percent of the AMI, there are 11 one-bedrooms with a monthly rent of $2,233 for incomes ranging from $76,560 to $155,730. At 165 percent of the AMI, there are 11 units ranging from studios to one-bedrooms with a monthly rent ranging between $2,412 and $2,612 for incomes ranging from $82,698 to $177,210.
Prospective renters must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than September 24, 2021.