The affordable housing lottery has launched for 37th and 1st Apartments, an 11-story residential building at 650 First Avenue in Murray Hill, Manhattan. Designed by Ismael Leyva Architects and developed by Lalezarian Properties under the First and River LLC, the structure yields 111 residences. Available on NYC Housing Connect are 28 units for residents at 40 to 100 percent of the area median income (AMI), ranging in eligible income from $37,886 to $175,000.
Amenities include pet-friendly policies, bike storage lockers, gym, outdoor terrace, recycling center, on-site resident manager, and elevator. Residences are equipped with washers and dryers, air conditioning, hardwood floors, energy-efficient appliances, dishwashers, high-speed internet, and intercoms. Tenants are responsible for electricity, including electric stove and heating.
At 40 percent of the AMI, there are two studios with a monthly rent of $940 for incomes ranging from $37,886 to $51,840; three one-bedrooms with a monthly rent of $995 for incomes ranging from $40,629 to $58,320; and one two-bedroom with a monthly rent of $1,168 for incomes ranging from $48,755 to $70,000.
At 80 percent of the AMI, there are four studios with a monthly rent of $2,040 for incomes ranging from $75,600 to $103,680; five one-bedrooms with a monthly rent of $2,173 for incomes ranging from $81,018 to $116,640; and one two-bedroom with a monthly rent of $2,583 for incomes ranging from $97,269 to $140,000.
At 100 percent of the AMI, there are four studios with a monthly rent of $2,590 for incomes ranging from $94,458 to $129,600; six one-bedrooms with a monthly rent of $2,762 for incomes ranging from $101,212 to $145,800; and two two-bedrooms with a monthly rent of $3,290 for incomes ranging from $121,509 to $175,000.
Prospective renters must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than February 18, 2025.
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The affordable housing brackets seem better than most I’ve seen!
Wow you’re right! Had to do a double take and read it again because these prices are actually reasonable!
Attention developers and architects, this is how you choose not to destroy our city’s history while expanding your profits. And we can actually end up liking you.
agree.
It’s should be a lower rent. It’s a housing lottery. How do people afford it. Come on 900 and something for a studio plus electric stove and other electric utilities.
Have you not seen the average rent prices in Manhattan?? 900 for a new affordable studio is an absolute steal! Are you expecting something unrealistically lower like $500 a month or something?
the sense of entitlement knows no bounds
yes a steal. rent does not come close to cost to build and maintain.
but not their money so they dont care. just want free or close to it.
Wow, $1,168 for a 2 bedroom in Manhattan is a freaking steal! Whoever nabs that is lucky as sh*t😆
Props to developers and managers,this rent prices look very affordable for the City,good luck to the applicants, and city leadership should bring more of the developers like this.
This is the Glass Goes with Everything Building.