Three Regulated Harlem Apartments Require $78k Incomes

EAST HARLEM, NY — A lottery for three Harlem apartments the city considers "affordable" opened to applications Friday, but the "below-market" units require tenants to earn at least $78,000 incomes.

The rent-regulated, two-bedroom units at the newly-developed building on Lexington Avenue between East 122nd and 123rd streets. The homes rent for $2,245 per month, according to the city's housing connect website. Rents are designed to be "affordable" for a person earning 130% of the Area Median Income, which the city describes as "middle-income."

Renters must earn at least $$78,858 per year to qualify for the homes. Apartments are open to households containing two to five people. New Yorkers earning well above six figures are even eligible for the units. The combined maximum income for one-bedroom units in the lottery is $149,890 for a household of five.

Here's a chart that breaks down the available units and eligibility requirements:

Prospective tenants must apply to the lottery through the city's Housing Connect website by April 3. Paper applications can be requested by mailing a self-addressed envelope to: 2006 Lexington Apartments, C/O Corcoran 207 W 115th Street, Suite 32, New York, NY 10026.

Developers of the Lexington Avenue property are required to offer the apartments at below-market rates because they are receiving a tax exemption through the city Department of Housing Preservation and Development's 421a program.