20 Permanently Affordable Apartments Coming to E. 39th Street Developments

By Heather Holland on May 13, 2014 12:08pm 

MURRAY HILL — Permanent affordable housing is coming to two new rental developments on East 39th Street, officials announced.

The Department of Housing Preservation and Development struck a deal with CB Developers to add 20 affordable apartments to the company's rising towers at 200 and 210 E. 39th St. near Third Avenue, according to HPD.

CB Developers was allowed to double the base footprint of 200 E. 39th St. from 5,500 to 11,000 square feet in exchange for offering the affordable housing units, said Elias Kougemitros, a spokesman for CB Developers.

The 19-story building will have 91 units in all, including 10 affordable studios, one-bedrooms and two-bedrooms, ranging from 600 to 900 square feet, HPD said in a statement. The building, which will have a gym and rooftop space, will open in the first or second quarter of 2015.

CB Developers also plans to demolish a four-story commercial building at 210 E. 39th St. to make way for a 57-unit rental building that will contain another 10 affordable units, Kougemitros said. The demolition will begin soon and construction of the new building will start at the end of the year, Kougemitros said.

Rents for the affordable units have not yet been set.

The affordable units will be open to single people making up to $35,280 per year, families of two making up to $40,300, families of three making up to $45,360 and families of four making up to $50,300, according to an HPD spokesman.

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