A luxury rental building at 55-75 West End Avenue at 63rd Street is offering 50 units to people who make between $70,732 and $117,780, higher income limits than we’ve seen for other Upper West Side housing lotteries.
Amenities at the Brodsky building include a fitness room, a concierge, a shuttle bus to Columbus Circle, and a playground.
See the income limits and rental rates below, and learn how to apply here:
A market-rate one-bedroom in the building goes for $3,050 and the least expensive two-bed two-bath is $4,300.
This demonstrates how this “affordable housing” program is just a big scam… between $70,732 and $117,780.. Please !!
You do realize that the income limits are gross, not net.
Take a long look at your next paycheck or when you do your taxes if self employed and run the numbers. As a resident of NYS and NYC somewhere around 33% of your income off the bat goes to taxes. If you are saving (401K or whatever) and have other deductions such as healthcare that number does down even lower.
Someone earning $70,732 gross likely brings home a bit under $50k per. You try finding an apartment in a good area of Manhattan much less NYC on that kind of money.
Now we all know persons who are doing that, but they likely are living in RS apartments and have been doing so for years so their rent is pretty low compared to market.
B.B. You gotta be Mr Real Estate. This is the funnies justification for phony “affordable housing” programs that I have ever heard!
Why?
You are getting hung up on the word “affordable”, and likely confusing it with “low income”. Which these units certainly are not.
You can read the rest here: https://www.6sqft.com/everything-you-need-to-know-about-affordable-housing-qualifying-getting-in-and-staying-put/
Don’t know what you are getting so hot about. There are plenty of people paying around $2.100 per month for crappy small studios that even if they are RS that brings small comfort. At least here you get a great property and plenty of amenities.
But doesn’t having a 401K or any savings work against you? I’ve tried applying for lotteries and I always just miss the mark, but I have friends who make under $50,000 (actors,waiters, bartenders, etc.) who have hit the lottery every time.
See from about page 6 onwards: https://www.city-data.com/forum/new-york-city/2490405-affordable-housing-lottery-launched-205-east-8.html
Though that might be an above average income, it’s solidly middle class in this city.
How the hell is this affordable? I make a little more than the maximum for a single person and could never afford to pay over $2000 a month for an apartment. I was born and raised in NYC. If I had not bought my apartment in the late 90’s, I would have had to leave. As it is, I’m stuck where I am vecause I can’t afford to move out.
If anyone bothers to do the sums the asking rents fall within the standard income equals 40x most all NYC landlords now require. In fact the income requirements at least shown above are slightly less than that 40x, maybe about 10%.
In comparison here is what you can (or rather could) find as a rental for $2200 per month: https://ny.curbed.com/2015/5/1/9964814/what-2200-month-can-rent-you-in-new-york-city
In today’s market you aren’t going to find much for < $2k per month: https://ny.curbed.com/2016/7/19/12219330/new-york-rent-upper-east-side-queens-bronx-comparison
It does seem odd to me that only the very top of the income range could afford the rent for a studio under your standard Manhattan private landlord standards, and no one in the range for the one-bedrooms. The city needs to take a standard on affordability meaning a maximum of 30% income. Otherwise it’s just an invitation to fraud.
Unless am missing something under the standard income equals 40xrent the one bedroom squeaks under the $86.800 (2,170 per month) for a single person/one bedroom.
As for fraud I don’t see how. These lotteries are nearly as bad or equal any amount of paperwork required for a co-op package or mortgage. They ask for paystubs, financials, etc.. with every single deposit into your checking account documented right down to that check your grandmother sent you for your last birthday.
Will give you though what the city needs is more low income housing, but that seems not to be in the cards. Only way to find lower rents from these lottery apartments is for buildings in areas with lower median income
Amazing. The middle class folks in this this now have to enter a lottery to get an affordable apartment. Nuf said.
Wow this is ridiculous. What about the people that make in the 35,000-65,000 range? Most of the affordable housing lotteries target those making below $50,000 but the lower middle class is still expected to spend more than half their income on rent.
Those people in the 35-50k range really cant afford to live in NYC. They are too rich for all the programs and too poor for market rate in Manhattan. Maybe there is something in Newark. Or Phoenix. Bill D’s tale of two cities on full display. They do nothing to help employed citizens who would be middle class homeowners in most of America.
This is a lottery for “middle income” people according to the City of NY. The buildings
(55 & 75) have had “lower income” affordable apartments since the buildings opened approximately 20 or so years ago.
I agree. The building has been offering 20% of the apartments at to low income earners for 20 years. It has just come off rent stabilization as of this year. It is now also offering low rent apartments for middle income (by NYC standards) earners. Which is a good thing. This is coming from someone who knows and lives in the building.
I think this is unconscionable to hold a housing lottery for people who can afford to pay $2,000+ for rent.
The Upper West Side already has more than enough luxury apt. buildings.
We need more housing available for low to moderate income earners.
You can’t get a “luxury” one-bedroom in this city for anywhere near $2000 (try usually $1000 more). Heck, getting *any* one-bed in Manhattan for $2000 is getting pretty hard. A person within these income ranges paying the established rent will in almost all circumstances qualify as “rent-burdened.”
Mixed-income housing tends to be more stable and healthier than housing that just packs a bunch of poor people on top of each other. Lower-income tenants benefit from the increased resources and pull that middle-income tenants can invest in maintaining the building, middle-income tenants hopefully learn that the lower-income tenants are human beings just like them.
I don’t believe that providing middle-class housing is a legitimate use of state power. Get the government out of the housing market.
So wrong.
Ron if you make 70-117 a year you would not be able to live in the city with out these apartments. I consider folks poor here if they make less then 200K
touche’ so it’s the street for the rest of us……the street or Ames, Iowa i.e.
Find a roommate and split the cost. It works for 20somethings.
And when they’re 50?
70-117k combined family income, or single? Big difference.
Will the ‘middle income’ tenants be allowed to use the amenities?
“Amenities at the Brodsky building include a fitness room, a concierge, a shuttle bus to Columbus Circle, and a playground.”