Last May, an affordable housing lottery opened up 19 units in a brand new building at 221 West 29th Street in Chelsea with rents as low as $833. On Wednesday, 15 more units opened up in the building through a new lottery, this time with rents starting at $621.
That is not a typo—five fortunate souls will be able to secure studios in one of New York’s most expensive neighborhoods for about $20 per day. In order to qualify for one of these coveted units, applicants must earn an annual income of between $23,178 and $26,270. An additional five one-bedroom units are also up for grabs at $715 per month, with a required income of $26,469 to $30,560. The other five apartments made available through the lottery have rents ranging from $2,123 to $2,743.
Applications for the lottery are open through November 15, and the building’s amenities include a fitness center, bike storage, a roof deck and plenty of other features that one would expect in a new development.
Winning this lottery might be a pipe dream, but with median rent in Chelsea siting at $4,900, it's at least worth a shot.