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HDC Press Releases
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APPLICATIONS AVAILABLE FOR
NEWLY CONSTRUCTED APARTMENTS LOCATED
IN MID-MANHATTAN
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30 Apartments available at below-market rents
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New York, NY, September 22, 2003
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The New York City Housing Development Corporation (HDC) announces that applications are available now for 30 newly constructed affordable housing rental apartments at 400 West 55th Street, Manhattan. Apartments vary in size from studios, one-bedrooms, and two-bedrooms, and are reserved for households with an annual income ranging from $15,176 to $31,400 (incomes vary within these bounds depending on apartment size and family size).
The development is owned by 55th and 9th LLC, an entity formed by the principals of the Gotham Organization. The development has been financed through the sale of tax-exempt bonds from HDC's 80/20 program. The building consists of 150 apartments. In accordance with the 80/20 program, twenty-percent of the apartments are set-aside for low-income residents, and the remaining apartments are rented at market-rate rents.
To request an application for one of the below-market-rate units, please send a letter and a self addressed envelope to:
55th Street Apartments
Grand Central Station
P.O Box 2455
New York, NY 10163
Applications will be available September 17th through October 17th. Applications must be postmarked no later than October 31, 2003. Eligibility is based on income, family composition, continuing need and other factors.
Applicants will be selected through a lottery system. Preference will be given to eligible applicants residing in Community Board #4, Manhattan.
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