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Gotham Point (via Gotham Organization and Handel Architects) Gotham Point (via Gotham Organization and Handel Architects)
Updated 9/23/2022 with new lotteries in Midtown West, East New York Sheepshead Bay, Astoria, and the Bronx.

In June 2022, Mayor Eric Adams announced his long-awaited housing plan. Its goals include expanding affordable homeownership opportunities, expanding the pool of shelter residents who are eligible for permanent housing programs, and the acceleration of the creation of 15,000 units of supportive housing.

The press conference took place the day after the 421-a tax program expired. In the simplest of terms, this offered developers tax breaks in exchange for providing a certain percentage of rent-stabilized units in the new buildings. It has proven highly popular among developers – a report from The City found that approximately 90% of all residential construction in the last decade received 421a or similar tax breaks – but has not done nearly enough to address the city’s housing deficit: New York needs 560,000 new housing units to make up the deficit in new construction, but permits over the last two years have averaged just over 20,000 new units.

While a number of new buildings broke ground before the expiration and thus still qualified for the tax break, elected officials are torn on how to solve the housing affordability problem. Governor Kathy Hochul proposed an alternative that would increase affordability levels, but lawmakers rejected it on grounds that it was too similar to 421a. Mayor Adams supports the return of 421a in some form, and New York City Comptroller Brad Lander calls for property tax reform to eliminate the need for 421a in the first place.

In the meantime, the mass exodus from New York some predicted at the height of the pandemic has not come to pass: Earlier this year, the city’s official Housing and Vacancy Survey showed a vacancy rate of only 1% for affordable apartments, and market-rate rents all over the city are reaching new highs. More recently, inflation has driven up construction costs, and higher interest rates have made construction loans more expensive. As all this goes on, prospective renters are experiencing bidding wars for run-of-the-mill apartments, biddings wars as standard practice in luxury buildings, and overcrowded open houses.

Fortunately, there is a large number of programs throughout the city and state to put housing closer within reach. This is good news for people seeking affordable housing, but each has its own rules and restrictions to navigate. This article focuses on New York City and New York State programs designed to assist renters.
New York-CIyt-housing-3 City initiatives to boost and preserve NYC's affordable housing



• NYC Housing Connect Lotteries

If you’re interested in an affordable housing unit, the first thing to do is visit the NYC Housing Connect website and find out if you qualify and more specifically, find out if you qualify for any current housing lotteries (different lotteries may have different types of units available). Next, apply on the NYC Housing Connect website by opening an account. Then you just have to wait and see if your number is called. If it is, you’ll then be asked to compile hundreds of pages of paperwork,and undergo an interview. If the paperwork is too daunting, reach out to an NYC Housing Ambassador or contact a Ready to Rent Office in your borough. If your paperwork and interview check out, you may still find yourself waiting and you may never even be granted a unit. This is because NYC housing lotteries select more applicants than there are available units. While this may sound unfair, there are two reasons this is generally done: First, many people are disqualified once they submit their paperwork, and second, the process is so onerous, many New Yorkers drop out of the process before ever gaining access to a unit.

The benefits of entering a housing lottery are fairly obvious—if you “win," you’ll end up with an affordable or reasonably affordable rent stabilized apartment in New York City. Also, many of the available units are highly desirable. Housing lottery units are often housed in swank new mixed-income buildings with appealing amenities from state-of-the-art gyms to roof-top decks to game rooms. The downside of the housing lottery system is that much is left up to chance, the paperwork is onerous, and if you’re in the top 25% percent of eligible applicants, you may still end up paying close to market rent for your unit.

More information and a list of past lotteries can be found here.
NYC-affordable-housing-04
If you have any questions related to the following lotteries, please direct them to Housing Connect. CityRealty is not affiliated with affordable housing lotteries and cannot offer assistance in this regard.

Gotham Point
Gotham Point Living
Gotham Point North
Gotham Point’s North Tower is the second phase of the Gotham Point Development, offering 463 brand new studio to 3-bedroom luxury rentals that feature spacious open layouts, state-of-the-art finishes, access to parks, and expansive waterfront views with close access to the 7 train at Vernon-Jackson Blvd and the NYC Ferry at Hunter's Point South. Apartment features include luxury plank flooring, Silestone quartz countertops, premium stainless steel appliances, a gas range and dishwasher. With over 50,000 square feet of inspired indoor and outdoor amenity spaces, your living space extends beyond your front door, and you can enjoy the creature comforts of home with access to all of the conveniences of modern city living.
Gotham Point North

2311 Andrews Avenue, Bronx
2311-Andrews-Avenue-01
This building is anticipated to receive a Tax Exemption through the 421a Tax Incentive Program of the New York City Department of Housing Preservation and Development. The building is pet-friendly, and amenities include bike storage lockers, energy-efficient appliance, outdoor terrace, intercom devices, security cameras, accessible entrance, smoke-free building.
2311-Andrews-Avenue-02

1516-Park-Avenue
Find your new place at 1516 Park Avenue! This is a newly constructed luxury rental building, located in one of the most vibrant Manhattan neighborhoods! These spacious luxury apartments, are designed with contemporary comforts and features!
1516-Park-Avenue

1709-Park-Place-01
1709-Park-Place-03
1709-Park-Place-04
Welcome to 1709 Park Place! Beautiful, spacious- newly constructed one bedroom units located in Crown Heights, Brooklyn. Units designed to take advantage of the building’s natural light, high ceilings and existing character!
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99-103-Grove-Street
Welcome to 99, 101 and 103 Grove Street Apartments! This gorgeous building boasts 9 beautifully finished one-bedroom affordable units. This building is anticipated to receive a Tax Exemption through the 421a Tax incentive program of the New York City Department of Housing Preservation and Development.
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1010 Bedford Avenue and 263 Skillman Avenue, Bedford-Stuyvesant
1010-Bedford-Avenue
1010 Bedford Avenue and 263 Skillman Street is a beautiful seven-story building with one- and three-bedroom units. 3 month concession is being offered. Apartments feature central air conditioning, high-end finishes and appliances, hardwood floors, and intercom. Amenities include a roof terrace and assigned parking spaces. This building is anticipated to receive a Tax Exemption through the 421a Tax incentive program of the New York City Department of Housing Preservation and Development.
1010-Bedford-Avenue

50-11-Queens-Boulevard
43-46-51st-Street
43-46-51st-Street
This building is being constructed through the Inclusionary Housing Program and is expected to receive tax exemption through the 421a Tax Incentive Program through the New York City Department of Housing Preservation and Development. Amenities include washer/dryers and dishwashers in the unit, a rooftop terrace, a workout room, and bike storage.
43-46-51st-Street

63-Lewis-Avenue-01
The five one-bedroom affordable units at 63 Lewis Avenue combine city convenience in a spacious apartment package. Besides being very close to the J, M, and Z subway lines, all units boast balconies, washer dryers, dishwashers, high-end appliances & finishes, and hardwood floors. Amenities include an elevator and fully-equipped on-premises gymnasium, and the building welcomes pets under 25 pounds. This building is anticipated to receive a Tax Exemption through the 421a Tax incentive program of the New York City Department of Housing Preservation and Development.
63-Lewis-Avenue

31-25 Newtown Avenue, Astoria
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The building is anticipated to receive a Tax Exemption through the 421a Tax Incentive Program of the New York City Department of Housing Preservation and Development. Tenant has access to the outdoor areas/outdoor terrace/rooftop terrace at no fee, unless for event or private party usage. Laundry room and parking spaces are subject to additional fees.
31-25-Newtown-Avenue-02

45-57-Davis-Street-01
This gorgeous building boasts an on-premises laundry room, fully-equipped gymnasium, media room, recreation room, children’s playroom, rooftop terrace, and outdoor areas. The affordable rent-stabilized units are roomy and modern, with high-end appliances and finishes. This building is anticipated to receive a Tax Exemption through the 421a Tax incentive program of the New York City Department of Housing Preservation and Development. $1,000 towards moving expenses is offered for immediate move-in at lease signing!
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2817 Atlantic Avenue, East New York
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This building is being constructed through the Inclusionary Program and is anticipated to receive a Tax Exemption through the 421a Tax Incentive program of the New York City Department of Housing Preservation and Development. Amenities include patios or balconies, elevator, intercom, and garage with assigned parking spaces.
2817-Atlantic-Avenue-02

435-West-31st-Street-01
Live at The Eugene, just steps from Chelsea, the High Line, Madison Square Garden, Whole Foods, and transportation options. Enjoy world-class amenities, exemplary style, and incomparable convenience. Floor-to-ceiling windows, wood flooring, in-home washer/dryers, and touchless door entry. Indulge in amenities including rooftop panoramic outdoor lounges with grilling stations, rooftop indoor lounges, library, co-working lounge, basketball court, arcade room, crash pad media & entertainment room. Stay healthy enjoying a state-of-the art fitness center; 2-story rock climbing wall; studios for spin, yoga, and Pilates; and exercise classes. Waiting List open to fill three 60%- 1-beds, one 40%- Studio available now and for future vacancies.
435-West-31st-Street-02

2339 Stuart Street, Sheepshead Bay
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This building is anticipated to receive a Tax Exemption through the 421a Tax Incentive program of the New York City Department of Housing Preservation and Development. All residences have in unit dishwasher, washer and dryer, stainless-steel appliance package, and hardwood floors.
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305 East 165th Street, Morrisania
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305-East-165th-Street
305-East-165th-Street
Located in the South Bronx, our 37 affordable apartments includes new energy-efficient appliances that beautifully accentuates the space. It also includes a free code-protected fitness center, access to an energetic recreational area. 305 East 165th Street is also smoke-free and pet friendly. For units where the income limit is set at 80% AMI, Individuals or households must have at least one household member who is 62 years or older, and must meet the income and household size requirements that are listed below. This building is being constructed through the Privately Financed Affordable Senior Housing(PFASH) Program and is anticipated to receive a Tax Exemption through the 421-a Program of the New York City Department of Housing Preservation and Development.
305-East-165th-Street

101-Varet-Street-01
This building is anticipated to receive a Tax exemption through the 421a Tax Incentive Program of the New York City Department of Housing Preservation and Development. The units are spacious and bright with floor-to-ceiling windows.
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160 Clarkson Avenue, Flatbush
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160 Clarkson Avenue
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This Brooklyn apartment building’s luxurious interiors and superior design will take your lifestyle to the next level! The Brooklyn apartments for rent at 160 Clarkson are ready to exceed your expectations.160 Clarkson’s prime location makes it ideal for anyone looking to rent an apartment in Flatbush, Brooklyn. Although it provides quiet residential streets, you’re never far from all the action. This building is anticipated to recieve a Tax Exemption through the 421a-16 Tax Incentive Program of the New York City Department of Housing Preservation and Development.
160-Clarkson-Avenue

31-07-31st-Avenue-01
This building is anticipated to receive a Tax Exemption through the 421a Tax Incentive Program of the New York City Department of Housing Preservation and Development. Amenities include balconies, elevator, and shared laundry room.
31-07-31st-Avenue-02

2321-Belmont-Avenue-01
This building is anticipated to receive a Tax Exemption the 421a Tax Incentive program of the New York City Department of Housing Preservation and Development. 2321 Belmont Avenue Apartments is offering 13 One & Two bedroom Units in the Bronx.
2321-Belmont-Avenue-02

153-Erasmus-Street-01
This building is anticipated to receive a Tax Exemption through the 421a Tax incentive program of the New York City Department of Housing Preservation and Development. The building includes bike storage lockers, shared laundry room, high-end kitchen appliances, high-end countertops and finishes, air-conditioning, patio or balcony, hardwood floors, gymnasium, spa, yoga/dance studio, close to schools, rooftop terrace, security cameras, virtual doorman, smoke-free. Pets up to 20 pounds are allowed.
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42-41 Judge Street, Elmhurst
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This building is anticipated to receive a Tax Exemption through the 421a Tax incentive program of the New York City Department of Housing Preservation and Development. Amenities include rooftop terrace, storage, and parking (for an additional fee).
42-41-Judge-Street-02

555-Tenth-Avenue-01
Waiting List open to fill two 40%- Studios, one 40%- 1 bed, one 60%- 1-bed, two 120%- 1 beds available now and for future vacancies. The services and amenities that 555TEN’s Midtown luxury apartments offer, including a 24-hour doorman and concierge staff. 555PLAY features a private bowling alley, an arcade, and a children’s playroom. Throw Me a Bone is on the premises to meet your pet’s needs, offering grooming, play groups, and on-site visiting vet services. There’s even a sprawling outdoor dog park that is protected from the elements.
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276-Grand-Concourse-01
276-Grand-Concourse
276-Grand-Concourse
Well situated in the residential area of Mott Haven, 276 Grand Concourse sets a new perspective for the Bronx. A 12 story building superbly crafted, reflecting inexplicable standards. These apartments are carefully constructed with discerning features carried throughout every space. Units vary in studio, one, two bedroom configurations. Amenities include a fitness center, yoga/dance studio, an entertainment lounge, a children’s playroom and a landscaped rooftop deck (fees apply),. The building’s location in Bronx allows easy access from the bustling city to all your favorite upstate attractions. This building is anticipated to receive a Tax Exemption through the 421a Tax Incentive Program of the New York City Department of Housing Preservation and Development.
276-Grand-Concourse

2 Mount Hope Place, Morris Heights
2-Mount-Hope-Place
2 Mount Hope Place offers a combination of comfort, design and quality. The on-site parking and laundry room are subject to fees. There is a preference for residents of Bronx Community Board 5.
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573-Emerald-Street-01
This building is being constructed through the ELLA Program of both the New York City Housing Development Corporation (HDC) and the New York City Department of Housing and Preservation and Development (HPD) and HPD’s Mandatory Inclusionary Housing Program. The amenities at this property include an outdoor landscaped terrace, a community lounge, bicycle storage, parking, on-site laundry, and a children’s playroom. Train options include the L train and buses include the B15.
573-Emerald-Street-02

11-12-30th-Drive-01
Astoria West features easy access to Manhattan and extensive amenities: Washer & Dryer installed in all units, doorman, package room, on-site resident manager, rooftop terrace*, common area Wi-Fi*, parking*, gym*, yoga/dance studio*, media room and billiard lounge*, party room*, children’s play room*, golf simulator lounge*, rooftop pool*, courtyard*, self-service pet spa*, bike storage* (*additional fees may apply). INCENTIVES: Zero Security Deposit | Free access to select amenities for 1 year | Up to $1,000 reimbursed for moving expenses on a 2-year lease | Free internet service with select providers for 6 months.
11-12-30th-Drive-02

3-24-27th-Avenue-01
This building is being constructed through the Extremely Low & Low-Income Affordability (ELLA) Program of the New York City Housing Development Corporation (HDC) and is anticipated to receive a Tax Exemption through the 421-a Tax Exemption Program of the New York City Department of Housing Preservation and Development (HPD). The amenities includes tenant lounge, community room, fitness room, bike storage and a card-operated laundry room. These newly constructed, spacious apartments are equipped with large windows, energy efficient appliances and light fixtures, thoughtfully selected hardware throughout, and multiple options for cable/Internet access.
3-24-27th-Avenue-02

Small Homes Rehab - NYCHA Program Cluster III

Various Brooklyn, Queens, and Bronx addresses
18 homes from $402,500 | Deadline November 23, 2022

NYCHA small homes cluster
Restoring Urban Neighborhoods, LLC is pleased to announce applications are now being accepted for eighteen (18) one to three family homes with twenty-eight (28) total units. Homes are now under construction through the Small Homes Rehab - NYCHA Program Cluster III in Cambria Heights, Jamaica, Far Rockaway, Springfield Gardens, Queens Village and Arverne, Queens; Fort Greene, Bedford-Stuyvesant and Cypress Hills, Brooklyn; and Williamsbridge, Bronx. Eligible applicants must qualify for NYSAHC and secure a mortgage from one the pre-qualified lenders. The following properties are two (2) family homes: 144-29 105th Avenue, Jamaica, NY 3817 Carpenter Ave, Bronx, NY; 99 Waverly Ave, Brooklyn, NY and 349 Berriman Avenue, Brooklyn, NY The following properties are three (3) family homes: 305 Atkins Avenue, Brooklyn, NY, 110 Waverly Ave, Brooklyn, NY and 580 Lafayette Ave, Brooklyn, NY The other properties are one (1) family homes.
NYCHA cluster

Low-Income Rentals
The buildings in this section are currently accepting applications to fill vacancies and replenish the waiting list. Full details and instructions may be found here.

If you have any questions related to the following developments, please direct them to HDC. CityRealty is not affiliated with affordable housing lotteries and cannot offer assistance in this regard.

460 Second Avenue
Waitlist units

460-Second-Avenue

482 Franklin Avenue
Waitlist units for $871/month

482-Franklin-Avenue-01

133-45-41st-Avenue-01

138-52-Elder-Avenue-01

129-11-Jamaica-Avenue

3160-Park-Avenue

253 East 142nd Street and 250 East 144th Street
Vacancies and waitlist units from $1,190/month

Morris Court Apartments affordable units

1500-Hoe-Avenue

Compass V, Bronx
1290-Rodman-Place-01

The lotteries run through Housing Connect are perhaps the city's best-known resource for affordable housing, and it shows: An article in The New York Times noted that the odds of securing an affordable apartment through a housing lottery are one in 592. This is daunting, but it is also not the only option in town. There are several programs to help renters on low and fixed incomes, not to mention other options for middle-income New Yorkers who might need help finding adequate housing.

• NYCHA Developments

Income restrictions are generally lower than they are for affordable housing programs, but they do include a wide range of New Yorkers (e.g., a family of four can have a household income up to $83,450). There are also a few other requirements to apply for a NYCHA unit. First, you must meet NYCHA’s definition of family, which is either a single person or “Two or more persons related by blood, marriage, domestic partnership, adoption, guardianship, or court awarded custody.” In addition, your admission to a public housing development cannot endanger the welfare and safety of other residents. Finally, you and your co-applicant (spouse or domestic partner, if any) must be at least 18 years of age or an emancipated minor. To apply, visit the NYCHA website.
NYCHA (New York City Housing Authority) aims to provide “decent and affordable housing in a safe and secure living environment for low- and moderate-income residents throughout the five boroughs.” NYCHA also happens to be the largest public housing program in the United States. Since its inception, the program has created more than developments across the city’s five boroughs. In fact, NYCHA units currently represent 8% of the city’s rental apartments. To find out where NYCHA buildings are located, consult the city’s downloadable map or interactive map. Notably, NYCHA has different types of units for different demographics (e.g., some NYCHA buildings are for seniors exclusively).
So, what do you get if you qualify for a NYCHA unit? The average NYCHA unit rents for $522 per month, making it the most affordable way for families to live in New York City. However, many NYCHA developments are also in disrepair and in some cases, the buildings have even been deemed dangerous. In July 2018, reports surfaced that when tested, 820 children under six living in NYCHA units had elevated levels of lead in their blood. While the city currently has expressed many good intentions about repairing NYCHA buildings, but there is a lot of work to be done and deep federal cuts to NYCHA’s capital budget aren’t helping matters.
via nyc.gov
Smith-Houses-04 A vision of new infill development at the Smith House in lower Manhattan

• Section 8

NYCHA not only oversees a large part of New York City’s rental housing but also administers the Section 8 program. There are currently approximately 90,000 Section 8 homes in New York City and over 29,000 owners participate in the program.

Section 8 is a voucher program that offers assistance to eligible low- and moderate-income families (income restrictions can be found here) who are struggling to pay rent on the private market. For example, if you’re a family of four living on up to $52,150, you are eligible for Section 8 assistance. But qualifying for Section 8 doesn’t mean that you won’t pay any rent at all. The program is simply designed to ensure families don’t pay more than 40% of their adjusted monthly income toward their rent. NYCHA pitches in the remaining amount on the family’s behalf and owners receive what is known as a Housing Assistance Payment directly for the authority. You can learn more about Section 8 and apply on the NYCHA website.
(CityRealty)

• Mitchell-Lama Rentals

Mitchell-Lama is a housing program for both renters and buyers in New York State. Currently, to qualify for a Mitchell-Lama rental unit, depending on your family size, the income cut-offs range from $53,450 to $100,750. While rentals do become available in Mitchell-Lama buildings from time to time, the waitlists tend to be long. You can find a list of open Mitchell-Lama waitlists and check the status of current waitlists online.

If you do acquire a Mitchell-Lama rental, the rewards can be great. Most Mitchell-Lama units rent for $1000 to $2000 per month and this includes units large enough to house an entire family. However, simply getting a Mitchell-Lama takes many tenants years and even more than a decade.
Averne-View-03 Arverne View, a Mitchell-Lama development in Far Rockaway that was damaged by Superstorm Sandy

• Senior Citizens Rent Increase Exemption (SCRIE)

Currently, seniors are among the city’s most vulnerable residents. Indeed, over the coming years, the population of elderly New Yorkers is expected to increase dramatically. One program designed to directly assist the city’s elders is the Senior Citizens Rent Increase Exemption (SCRIE) Program. This program ensures that income-eligible people over 62 years of age who live in rent controlled or rent stabilized apartments are exempt from future rental increases.

Affordable Housing Programs for the Middle Class

In most cities, middle-class households don’t actually need assistance to rent a home. In fact, in most cities, middle-class families are more likely to own than rent. But New York City is an exception to the rule. Many middle-class families, including those making above $100,000 per year, struggle to find adequate housing. To help out, the city has recently ramped up its affordable housing program. These units are distributed through housing lotteries. While income restrictions still do apply, in the case of affordable housing, households can make up to $182,655 annually and still qualify. Another longstanding form of relief for renters is rent stabilization, which applies to approximately one million apartments in the city (find more information below).
Pacific Park's middle income affordable building, 535 Carlton (https://535carlton.com)
Income bands at 535 Carlton Avenue

• Rent Stabilization

Although New York has lost much of its rent stabilized apartment stock in recent years, these units do still exist, especially outside Manhattan. First and foremost, unlike other affordable housing programs, you don’t have to meet any special income requirements to rent a rent stabilized unit. If you work on Wall Street but don’t want to spend all your money on rent, you too can benefit from this program. How cheap are these units? While most rent stabilized units aren’t dirt cheap, they are priced well under market value because owners are not permitted to raise rents on such units above allowable annual thresholds (usually 1.5% to 2.5%). While some listings indicate that the unit is rent stabilized, the best rent stabilized units are often passed along via word of mouth or acquired by simply calling an owner directly to ask about availabilities. You can search for rent stabilized units on NYC Rent Guidelines Board website. If you think your current unit is rent stabilized but not being treated as a rent stabilized unit, you can also consult the city’s guidelines online.
Rent-Stabilized-Apartments-03 Published in May 2018 by the NYC Rent Guidelines Board
Navigating New York’s available programs for renters may not be easy, but many of these programs do offer considerable relief to renters. In addition, given the current administration’s stated commitment to building more affordable housing for New Yorkers, there is hope that moving forward, new programs targeting people living on low, fixed and middle incomes will be established.

Additional Info About the Building