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It is a rare chance to find an affordable apartment in NYC’s Financial District so, when a door opens, it’s a good idea to walk through it (or at least attempt to).
A giant new office-to-apartment building conversion just debuted an affordable housing lottery at 25 Water Street. Hundreds of apartments with modern amenities and easy access to some of the best things to do and places to eat and drink in all of NYC are part of the deal.
Here's how to apply and what to know about it.
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Where is it?
The new development is located at 25 Water Street in the Financial District, just two blocks from The Battery, offering quick access to the Whitehall St./South Ferry and Bowling Green subway stations.
What units are available?
A total of 330 apartments are available, including 238 studios, 73 one-bedroom units, 12 two-bedrooms and one three-bedroom option available.
How much do they cost?
The monthly fees for a studio range from $932 to $2,249 depending on your income. One bedrooms come in between $989 and $2,301 a month and two bedroom apartments are between $1,166 and $2,861 a month. The three-bedroom apartment would cost $3,286 per month.
You can look here for a breakdown of how much you have to make in order to qualify.
What else do we know about this building?
25 Water Street was converted into an 32-story apartment building from a circa 1968 office and storage building with more than 1,300 units. It is a pet-friendly building for animals up to 75 pounds and boasts high-end appliances, including washers, dryers, dishwashers and energy-efficient systems. The building offers access (for a fee) to a children's play room, a recreation room, a game room, a business center, a state-of-the-art fitness center, a spa, a swimming pool, a media room, a terrace, secure bike storage, package lockers and concierge service.
What’s nearby?
The iconic Fraunces Tavern and the beloved pub Dead Rabbit are around the corner from the building. Stone Street and its watering holes, restaurants and European flare are also a short walk north. The Battery is just two blocks to the west, giving you access to gorgeous views of the harbor and the Statue of Liberty.
How do I apply and by what date?
First, you have to create an account on NYC Housing Connect, the main portal for the city’s affordable housing lotteries. You can find this listing here. Your household must make between $31,955 and $173,340 annually to qualify. You have until May 5 to apply.