Tenancy in six studio apartments within an affordable housing development in Manhattan will be decided by a lottery drawing.
Hudson Companies and the New York City Department of Housing Preservation and Development announcing the housing lottery for the vacancies at The Clinton, located at 520 West 48th St. The six affordable studio units are set at an area median income range of 130% at $2,600 monthly rent and eligible incomes between $89,143 and $146,900 for households of one to two people. The apartments will be rent-stabilized for 15 years upon acceptance into the 421a-17 Program.
The facility has over 109 homes ranging from studios to three-bedroom apartments and provides amenities including 24-hour concierge service, a package room, a fitness center, a laundry room, and a landscaped courtyard. The property is within walking distance of multiple attractions including Times Square and Central Park.
“We’re thrilled to bring high-quality, affordable homes to this thriving arts and culture neighborhood,” said Chris Zedano, director of asset management at Hudson Companies. “We are grateful to our partners in government for their partnership in making this affordable expansion a reality and are excited to welcome more residents to our growing community.”
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