UES Housing Lottery Offers Apartments Under $1,000

An affordable housing lottery offering all-new apartments for less than $1,000 per month has just opened on the Upper East Side. Those who meet the income requirements have until May 16 to apply.

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The building is a new construction at 1026 Third Avenue (between East 61st and East 60th streets), just a block from the Bloomingdale’s flagship store and Lexington Ave/59th Street subway station.

Designed by Ismael Leyva Architects, the structure features a roster of amenities including a gym, outdoor terrace, business center, party room, and more. Individual units will feature high-end appliances and finishes, air conditioning, hardwood floors and laundry. The building is also pet-friendly with a one-pet-per-household limit.

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The structure will house 81 resident units altogether and include ground-floor retail space. Crain’s New York Business reported in 2023 that Kahen Properties, the development company, also owns the adjacent buildings (1020-1026) and is likely to build residential apartments there as well.

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The 24-story building offers 26 affordable units ranging from studios to two-bedrooms. There are 11 studio apartments that will go for $960 per month. These units are available for applicants whose household income does not exceed 40% AMI (Area Median Income, which equates to $43,480 for single-person households and $49,720 for two-person households).

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An additional 11 units are available for applicants at or below 60% AMI. Nine one-bedroom units, one studio and one two-bedroom unit are up for grabs. Rents range from $1,503 (studio) to ($1,901 (two-bedroom) and maximum household income for applicants ranges from $65,220 (studio for one-person household) to $100,620 (two-bedroom for five-person household).

Five apartments are available for applicants at or below 130% AMI: two one-bedrooms ($3,640 per month) and three two-bedrooms ($4,347 per month). Maximum household incomes range from $141,310 (one person, one bedroom) to $218,010 (five people, two-bedroom).

A portion of all available units will be reserved for applicants with mobility or vision/hearing impairments, with other units reserved for city employees and current Community Board 8 residents. A representative from NYC Housing Connect tells us construction is complete and move-ins will begin in June/July.

Visit the lottery here to enter or find out if you’re eligible.

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