People can now apply to live in the income-restricted rental apartments at 175 West 60th street, a Glenwood Management building that is under construction on Amsterdam Avenue right next to the Fordham campus. The building received government financing and is making 20% of the apartments (52 of the 257 units) available to people with lower incomes. Glenwood bought the parcel for $75 million in 2011, notes the 6sqft real estate news site.
“There will be five studio apartments available for single persons with annual gross incomes of $20,167 to $24,200 ($566 monthly rent) and $25,200 to $30,250 ($717 monthly rent); 30 one-bedrooms for 1-2-person households with annual incomes ranging from $21,600 to $34,550 ($608 or $770, depending on income); and 17 two-bedroom units for 2-4-person households making between $25,900 and $43,150 ($737 or $931).”
It’s not yet clear how much market-rate apartments will cost, but Glenwood’s similar development (the one where dog paws were not allowed to touch the lobby floor) lists studios starting at $3,479 and two-bedrooms for $6,870 and up.
Once again, Manhattan is only affordable if you’re really rich or really poor. The middle class are SOL.
Of course, I don’t believe the government should be involved in financing housing construction at all anyway. And, to the extend that those less fortunate should receive subsidized housing, it should be tied to the individual rather than the apartment. Those fortunate enough to get an apartment here will never be able to afford to leave unless they literally win the lottery again.
This is insane.
Why should somebody earning $25K or so be entitled to live in a luxury building in one of the most expensive neighborhoods in the country?
Glenwood, meanwhile, will get a monster tax break for providing these units. This is money the city can desperately use.
No doubt DeBlasio will use these apartments as an example of how he is creating “affordable” housing.
I’m not sure how this is affordable or cost effective.
FWIW: I’ve spoken to people in one of the “poor door” buildings. Apparently, their units are not made of the same quality. Lights break and aren’t replaced. There are holes in the walls. They have zero amenities. So the only “luxury” part–at least from my vantage point–is they are rich people “by proxy,” AKA by the affluent folks on higher floors.
Let them complain, it’s the only opportunity they have to vent their feelings for paying market rent and being ripped off by landlords. It wasn’t always an expensive city and it used to be the word “luxury” was a curse word amongst Upper West Siders, now the luxury ilk have sunk their claws into our socialist neighborhood. They’ll move soon though, just let them vent and get it all out of their system. They’ll buy some new pillows or go out for gelato and forget about the whole thing until they see a homeless person that bursts their bubble.
um, I own here and live here and have for years and I want nothing to do with socialism. You can have that all to yourself!
Same here…hopefully it’ll be your kind to leave the neighborhood.
There’s a giant list of people willing to live in these “poor” apartments and the people lucky enough to be living in them are in no rush to vacate.
Apparently, they’re not so bad.
These aren’t subsidized they are giveaways! You couldn’t rent an apartment for those prices in North Dakota. Absurd.
The income levels are not high enough.
The Income level as someone mentioned is not high enough. It is unfair to the those individuals who are earning an honest living, who has to work 2-3 jobs to have a decent income and who works late (12+hr/7 days a week), take no welfare nor qualified to do so be unqualified for affordable housing in Manhattan, closer to their jobs. The city should help and give this group making 30K to 55K (flexible) a chance to contribute to Manhattan. Not have to travel 2-3 hours to live in Brooklyn, Queens on an unreliable transit system cause they earn $35K for one person. Anything under $34 is near homeless these days in NYC, metrocard alone…Yet, the one who makes under $25K who if you do the math can barely pay the $566 along with tax+ monthly: food, transportation and basic necessities-something is off with these govt &contractors deals.
I so agree. Maybe I should work part-time so I can get a better apartment for my family. This graduate school, full-time career does not afford a 6,000/month luxury apartment! The scale they have provided is ludicrous and unfair to the middle class who works hard and pays a lot of taxes in this city.
The city should help low income people – as well as middle class people – to reside in the city.
But putting low income people in a luxury building in the priciest part of town is ludicrous.
What about guest dogs? Are we allowed to leave paw prints on the lobby floor?
Can somebody explain what happens when one of these lottery-winners’ incomes go up (assuming they are still motivated to let that happen)? Do they have to provide a tax return every time they sign a new lease? If their income goes up, do they get evicted? Who’s in charge of monitoring this? My head is spinning.
Not sure why anyone finds this problematic. The poor should be taken care of as much as the middle class in this terribly overpriced city we call home. Why shouldn’t they be able to live in a highly desirable area? They are barely earning a living as it is so should they have to live possibly hours away from where they work too? Years ago, neighborhoods in NY were a mix of all different people – races, religions, classes, etc. – which certainly added to its beauty. We’ve lost nearly all of that today which speaks volumes about what our city has become.
So…we New Yorkers living on Social Security, roughly 17000 a year, are perpectually frozen out of the affordable housing lotteries.. I’m paying more for a room in Harlem than the rent listed for the studios in this high rise.. Not fair ! Shouldn’t affordable housing be available to us ???
First, life isn’t fair. Second, why are you living on Social Security alone? It’s meant to be a partial subsidy, not full income replacement. I daily give up going out for lunch/taking taxis/ordering dinner on seamless/buying things at retail price so that I can (on a not-large salary) max out my 401k/Roth and save in regular accounts for retirement. If something catastrophic happens and I lose the money in those accounts I won’t be retiring in Manhattan, that’s for sure.
There are plenty of middle income affordable housing being built and have been built. There are a number of them in Tribeca. Where the income level is somewhere in the $50,000. and $75,000 or so range. It’s just not for the very poor!!
1 or 2 bedroom
Obviously you are the 1 %
Christina do you mind sharing those contacts? My sister can’t find an apartment and she falls within the $50,000 to $75,000 income bracket. Thanks so much, it does seem like the apartments are made for very low income.
@Carmen…
New HOP was created in response to the need of offering affordable housing opportunities to people that make modest, middle-income wages. The below-market mortgages provided to developers for the construction of this type of rental housing are made through the proceeds of taxable bonds as well as though HDC’s corporate reserves which are used to make second mortgages at a 1% interest. Typically, apartments created through New HOP are reserved for households earning a range of $53,800 for an individual, up to $134,000 (175% AMI) for a family of four.
There are also apts at ( might already be filled):
APPLICATION FOR APARTMENT
NEW HOP PROGRAM
West 61st Street, New York, NY
Building Manager:Knickerbocker Management
Example of middle income level:
Apartment size: 1 Bedroom
Household size: 1 person
Monthly rent: $1,995.00
Income Range: $67,625- $81,840
Thanks Christina, I truly appreciate the information.
Meanwhile..for those making $45-$65..still cannot afford a $3000 a month market rate rent.
You do know that people making on that low end 45K..they take out 12k of that in taxes…leaving you to live on 33k a year ($2,750 a month) in NYC…right?
Which means..you cannot afford a 3k a month rent…SHIT you cannot afford a 2k rent still….because all your other bills would still be eaten up by the last $750 a month you would have left. This is why I don’t buy ANYTHING except food. ONE unaffordable lab bill over $300 RUINS my savings. Anything else..puts me at the poverty line.
Puhleeze…these income brackets for NYC earners bumps me out of this as a backup plan if my rent stabilized unit goes over 3,000!. It still is not appropriate for those just keeping their heads above water at $45k-$65k.
And they wonder why people can’t get ahead. SO GLAD we decided to NOT HAVE KIDS!!!
Sheeeeeit.