There’s an opportunity for a deal in a luxury apartment on 8th Avenue — and you could get two months rent-free! The Biltmore, a towering 53-story residence nestled between Hell’s Kitchen and the Theater District, has launched an affordable housing lottery for 24 of its studio apartments.
Designed by Schuman, Lichtenstein, Claman & Efron and built in 2003, The Biltmore at 271 W47th Street is offering 24 of their 464 units to New Yorkers earning 130 percent of the area median income (AMI). The income bracket to qualify for these affordable luxury studios ranges from $101,486 to $146,900.
The Biltmore has amenities such as pet-friendly policies, bicycle storage lockers, an electric car-charging garage and an outdoor terrace. The building also has a shared laundry room, a community center, a media room and an on-site resident manager. Residents have access to additional services, but these come with their own set of fees. The offered apartments feature hardwood floors, air conditioning, name-brand kitchen appliances, countertops and finishes. Rent includes gas for cooking and heating, but tenants are responsible for their electricity bills.
The 24 studios are available for a monthly rent of $2,960. As a bonus, new tenants will receive two months of free rent. Applications for these apartments are open, but interested parties must meet specific income and household size requirements. The deadline for application submission, either postmarked or submitted online, is September 1, 2023. New York City residents receive a general preference for apartments.
The Biltmore is likely to secure a tax exemption through the 421a(17) tax incentive program from the New York City Department of Housing Preservation and Development.
More information can be found at the NYC Housing Connect website: housingconnect.nyc.gov
Applicants should refrain from submitting duplicate applications and choose either online or mail-in methods to avoid disqualification. To request an application by mail, send a self-addressed envelope to Settlement Housing Fund, Attn: Biltmore Extension Lottery, 247 West 37th Street, 19th Floor, New York, NY 10018.