New York City is not a cheap place to live, and that becomes especially clear for those looking for an apartment in Manhattan. Weary renters on the island got a sliver of good news earlier this week when a report revealed that February is the cheapest month to look for an apartment in the city. And on Friday, a new affordable housing lottery opened up for a collection of apartments in Chelsea cheap enough to induce tremors.
The lottery is for 63 units in a new building located at 515 West 36th Street, including four studios going for just $613 per month and 14 one-bedrooms at $659. Another seven two-bedrooms are available at $801 per month, and the remaining units range in price from $833 to $2,733. In order to qualify for the sub-$700 apartments in this lottery, applicants must have an annual household income between $22,903 and $30,560.
While the Department of Housing Preservation and Development says it's in Chelsea, it’s actually in a building that’s part of the sprawling Hudson Yards development on the West Side. Either way, it’s around the corner from the start of the High Line, so that's close enough, right?
Applications for the apartments are open through April 3, so get your ducks in order before then if you want to score one of these coveted spots. Winning the lottery might be a pipe dream, but in this housing market, it’s worth a shot.