Rents Start At $1,056 In Affordable Manhattan Housing Lottery

FINANCIAL DISTRICT, NY — The deadline to apply for an affordable housing lottery for 162 new apartments in the Financial District is coming up, offering qualifying New Yorkers a chance to live downtown without breaking the bank.

The apartments are located at 1 Gouverneur Lane near FDR Drive and range from studios to two-bedroom units, with rents between $1,056 and $2,823, according to the city's Housing Connect listing. The deadline to apply is Nov. 17.

However, there is a catch: Your total income and family size need to fit within a certain range to be eligible to apply to the housing lottery, and each lottery has different income restrictions, based on a measurement called "Area Median Income," which you can calculate here.

Once New Yorkers apply for an eligible unit, they are issued a log number, and then the numbers are chosen at random by an automated system, lottery-style.

The apartments are available to households earning up to 100 percent of the area median income, earning between $40,526 and $152,700 annually, with specific income requirements varying by apartment and household size.

The apartments feature large windows, dishwashers, washers and dryers in-unit, air conditioning, high-end finishes, and hardwood floors.

Building amenities include a spa, storage rooms, a yoga and dance studio, a media room, a party room, a golf simulator, a children's playroom, a landscaped rooftop terrace, an elevator and an attended lobby.

How To Apply

Qualifying New Yorkers can review the full eligibility requirements through NYC Housing Connect. Apply by Nov. 17.

Click here for more information.