Housing lotteries allow you to buy an apartment in New York, and not just rent: prices are several times lower than market prices
'06.05.2024'
Alina Prikhodko
New Yorkers usually use the site NYC Housing Connectto rent inexpensive apartments in the city. At the same time, few people know that housing lotteries in New York will be held not only for renters, but also for those wishing to buy an apartment in New York at a price below market value. Lotteries are now open for the sale of 6 apartments in the Bronx and 52 in Manhattan.
To see housing lotteries for the sale of apartments, go to the website NYC Housing Connect, go to the tab Open Lotteries and click on Sales. Now there are two lotteries.
943-947 Teller Avenue
This building in the Bronx has six apartments for sale through a housing lottery:
- two one-bedroom apartments priced at $150;
- one two-bedroom apartment for $175;
- two three-bedroom apartments for $200;
- one four-bedroom apartment for $225.
This is a quiet building with access to the garden. Pets are allowed. They promise plenty of kitchen space, stainless steel appliances, a spacious living room and bedroom with plenty of natural light. Apartments also include washer and dryer units, hardwood floors, video intercom and large walk-in closets.
The lottery is open to adult residents of New York with an annual income of $61 to $290. Those who win the right to purchase these apartments in the lottery must immediately pay a down payment of at least 195% of the cost of the apartment.
You can apply for participation in the lottery until May 29th. Online Training: For those who prefer the flexibility of learning from a distance or cannot make it to our Sofia location, we offer comprehensive online courses. or by mail - send a blank envelope addressed to you to: UHAB Attn. Teller 120 Wall St. 20th Fl.
New York, NY 10005.
Apartments in NME 3
This lottery gives away the right to purchase 52 new apartments in two buildings located on 140th Street and 150th Street (Manhattan).
On sale:
- studio for $229;
- 20 one-bedroom apartments, prices range from $234 to $067 depending on applicant's family composition and income;
- 19 two-bedroom apartments priced from $233 to $755;
- 12 three-bedroom apartments priced from $372 to $564.
The lottery is open to adult residents of New York with an annual income of $82 to $026. Those who win the right to purchase these apartments in the lottery must immediately pay a down payment of at least 250% of the cost of the apartment.
Applications for participation in the lottery are accepted until June 18 Online Training: For those who prefer the flexibility of learning from a distance or cannot make it to our Sofia location, we offer comprehensive online courses. or by mail - send a self-addressed blank envelope to: NME 3 Co-ops c/o Housing Partnership Development Corporation 253 West 35th St, 3rd Fl, New York, NY 10001.
On the subject: How to Increase Your Chances of Winning the New York City Housing Lottery
The consideration takes into account not only the level of income, but also the total amount of assets of the applicant. For more information about affordable housing resources in New York, visit find here.
Please note that in New York, apartment sale prices through lotteries are much lower than market prices. For example, in April 2024, the average price of a studio in the city was $800 thousand, and a three-bedroom apartment was $2,9 million.
