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$607 One-Bedroom Apartment Available in New Luxury Tower on 92nd St.

By Shaye Weaver | December 17, 2015 5:09pm | Updated on December 18, 2015 4:43pm
 The Henley will have 47 units of low-income housing.
The Henley will have 47 units of low-income housing.
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YORKVILLE — The affordable housing lottery has opened for 47 below-market-rate apartments on 92nd Street — going for as little as $607 for a one-bedroom.

The city has started accepting applications for low-income units at The Henley, a new 36-story luxury rental building at 205 E. 92nd St., near Third Avenue, which is still currently under construction.

The lottery includes 20 one-bedroom apartments for $607 or $769 per month and, 27 two-bedroom units for $736 and $930 per month, according to Housing Connect, the city's housing lottery website.

Each apartment includes a washer and dryer, and while low-income residents will have access to the roof terrace and a 24-hour concierge, use of other amenities like the fitness center, lounge, children's playroom and storage will require additional fees, according to the website.

To be eligible for the lottery, individual applicants must make between $22,218 to $30,250 a year, a family of two must make between $22,218 to $34,550 a year, a family of three between $26,775 and $38,850 a year and a family of four must make between $26,776 and $43,150 a year.

Residents living within Manhattan's Community Board 8 district will get preference for 50 percent of the apartments and municipal employees will be given preference for 5 percent. An additional 5 percent of the units will be set aside for those with mobility issues and 2 percent for those with visual or hearing impairments.

The development is an 80/20 project — a city housing program that gives developers tax abatements in exchange for setting aside 20 percent of the building for affordable housing. 

Leasing is expected to begin early next year, according to a spokeswoman for Related, which owns The Henley. Although rents for the market-rate units have not yet been announced, tenants will be able to move in in the spring, she said.

The Henley will also be home to an Equinox fitness club and a school for children with learning disabilities on the first four floors, according to city records.

Those who want to apply can do so online or in a mail application. Applications are due Feb. 1.