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Thanks to record lows of NYC real estate inventory and record-high Manhattan rents, many West Siders are facing increasingly steep rent hikes which can make staying in the neighborhood feel like a pipe dream. But for those anxiously looking ahead to their next lease renewal, there’s a new lottery in town — developers plan to release apartments starting at $690 a month at a soon-to-be-completed Hudson Yards luxury building.
311 11th Avenue, or 3ELEVEN as it will be known, sits just downtown of Hudson Yards between W29th and W30th Streets and is a new building from Douglaston Development and designed by FXCollaborative. Having secured 120,000-square feet of airspace from Hudson River Park (per City Realty), with a commitment to investing in park improvements — the 60-story tower is likely to boast exclusive views of the river and West Side.
Split between 703 market-rate and 235 affordable units, renters moving into the luxury highrise (expected to be completed this summer for occupancy in 2023) can look forward to brand-new stainless steel appliances, hardwood floors, and 30,000-square feet of interior amenities, including a pool, multiple roof decks, fitness center, and pet care facility.
Now, on to the brass tacks — how to qualify. According to Housing Connect NYC, New Yorkers making 40, 60, and 100 percent of the area’s median income (between $26,229 and $144,100, depending on the number of residents per household) can enter the lottery. Studios are listed at $690, $1,063, and $1,810 a month, one-bedrooms at $741, $1,141, and $1,942 a month, and two bedrooms at $901, $1,381, and $2,342 a month. And there’s good news for local apartment hunters, because 50 percent of affordable units must go to current Manhattan Community Board 4 residents.
The lottery-unit prices are a stark contrast to a recent tweet noting that studios under $2,000 a month in Manhattan were nearly impossible to find — including in Hell’s Kitchen.
While the lone HK unit pictured on the map appears to already be gone (!!), we did find a few quirky (read: old kitchens and small) studios listed at just over $2k a month.
For anyone looking to try their luck at 3ELEVEN, you have until August 9 to apply!
New York City (all boroughs) needs many more deals like this. It is essential that two and three bedroom apartments be included in such deals. It would be grand to show dimensions/measurements of the various size apartments.
If that’s how you want to live, good luck to you! Me, I’m keeping both feet right here in the neighborhood.
I’m looking for a one bedroom apartment
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