Lottery Offers Rents From $867 in New Tower at 42 West 33rd

Image of 42 West 33rd Street Affordable Housing
Source: Stephen B. Jacobs Group

A new apartment tower at 42 W. 33rd St. in Midtown is offering 45 rentals via the New York City housing lottery. The lottery offers New Yorkers who make between $31,612 as individuals and $57,240 as multiperson households the chance to rent in a new luxury building in the heart of Midtown for far below market rate. Rents for affordable units will start at $867 per month for studios and run to $1,123 for 2-bedrooms, depending on income. Applicants must meet income requirements and apply through NYC Housing Connect. The deadline to apply is Dec. 4, 2017.

Learn more about the NYC affordable housing lottery here.

Amenities at 42 W. 33rd St.

  • Doorman
  • Outdoor space and communal garden
  • Fitness center
  • Pool
  • No application fee
  • No broker’s fee

What is a broker’s fee?

  • Golf simulator
  • Spa
  • Communal party rooms
  • Bike storage
  • Transportation access

About 42 West 33rd

The new building at 42 W. 33rd St. will rise 41 stories and offer a mix of residential apartments above ground-floor commercial space. Of the building’s 223 units, 45 have been designated as affordable. Units are estimated to average 819 square feet.

Image of 42 West 33rd Street Affordable Housing
Source: Stephen B. Jacobs Group

The building is designed by the Stephen B. Jacobs Group, the same firm that designed the iconic Edge rental towers in Williamsburg. Like the Edge, this building will feature a glass facade and an impressive package of amenities, including  a fitness center, a spa with a pool and sauna, and a landscaped terrace on the third level, as well as a roof deck and outdoor entertaining space.

Image of 42 West 33rd Street Affordable Housing
Source: Stephen B. Jacobs Group

The building is directly across from the Empire State Building, which will afford some tenants incredible views. Given its central location between Fifth and Sixth Avenues, 42 West 33rd will offer residents direct access to Penn Station, the major retailers along 34th Street, the cultural offerings of the Theater District, and Midtown’s many museums.

Image of 42 West 32nd Street Affordable Housing
Source: Stephen B. Jacobs Group

The market rate rents for units in 42 West 33rd St. have not been announced, but we can assume they will be relatively high based on the building’s location and amenities. Renters interested landing an apartment for less should apply for one of the affordable units now being offered via the housing lottery.

Who Should Apply?

To apply for one of the 45 affordable units, you must earn at 60 percent of the area median income (AMI). Several other factors go into the selection process, with preference given to current residents of New York City, residents of Manhattan Community Board No. 5, and municipal employees. A small percentage of units have also been reserved for applicants with disabilities impacting their audio, visual or mobile facilities.

>>Rents from $613: Apply to the Housing Lottery to Rent a Luxury Apartment at 555Ten in Midtown 

How Do I Know If I Qualify?

The income qualifications for this housing lottery range from $31,612 for individuals to $57,240 for a four-person household. See the chart below for a breakdown.

Image of 42 West 33rd St Affordable Housing

Learn more about income eligibility requirements  here.

How Do I Apply?

You can apply online here. If you qualify, you will be contacted for an interview to review and confirm your eligibility. Interviews typically occur between two and ten months after the application deadline. If selected for an interview, go prepared. Bring documents that verify your household size, the identities of those in your household, and your household income.

When Is the Deadline?

The deadline to apply is Dec. 4, 2017.