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Gramercy is one of Manhattan’s quieter neighborhoods known for its beautiful brownstones and lush, leafy streets with its own private park that you need to have a key to enter. East of Union Square, the area’s zoning only allows buildings to go up to 20 floors, which means, towering skyscrapers and their long shadows and workforce rushes are not an issue. The only downside? It’s costly to live there.
According to Propertynest.com, as of July 2023, the average rental price for a studio in Gramercy is $3,100 and for a one-bedroom, it’s $4,250.
But right now, there’s an opportunity—a new affordable housing lottery just opened at Gemma, a new luxury apartment building at 200 East 23rd Street. The 20-story building contains 28 units, a gym, a second-floor lounge, a penthouse floor lounge and sky roof deck, a laundry room onsite, bike storage and fob keys.
According to the Gemma’s website, its studio, one- and two-bedroom layouts feature 11-foot-tall ceilings, natural light, and “enviable views of the city skyline.” Some of the apartments have private outdoor space, too.
Twenty-eight out of 108 units have been set aside for affordable rentals, which you can apply for here.
To qualify, your household income must be between $28,663 and $198,250, depending on the number of units you apply for. For instance, someone wanting a studio, would need to make between $28,663 and $39,560 per year (for a monthly rent of $836). At the top of the chart, two people applying for a two-bedroom apartment would need to bring in between $119,658 and $146,900 (for a monthly rent of $3,490).
You can see a full breakdown on housingconnect.nyc.gov.
You can apply online or request an application by mail. Just send a self-addressed envelope:
Gemma Gramercy c/o Housing Partnership Development Corporation 253 West 35th Street, 3rd Floor, New York, NY 10001.