Staten Island is off the beaten path for many New Yorkers, but an affordable housing lottery just opened up that might spark some apartment seekers to consider living in the city’s southernmost borough.
Named Water’s Edge and located at 5 Stuyvesant Place on the borough’s North Shore, the multi-level building has 23 units available for those with incomes between $82,115 and $218,010.
Units available include: three studios for $2,395 a month; 17 one-bedrooms for $2,655 a month; and three two-bedrooms for $3,835 a month.
According to its listing on the city’s Housing Connect portal, the building is expected to receive a tax exemption through the 421a Tax Incentive program of the NYC Department of Housing Preservation and Development.
The listing also reports that the units are priced “significantly” below market rate rent.
The rents, which are labeled as “discounted unit pricing,” seem steep, but the residences, according to the listing, boast a variety of “lively modern amenities.” These include laundry in the unit, a dishwasher in the unit, a gym, recreation room, rooftop terrace, rooftop dog run, parking, bike storage and electric car changing stations.
According to the listing, tenants are “responsible for household electricity including electric stove, heat and hot water.”
Located near the Staten Island Ferry
Water’s Edge is located close to the Staten Island Ferry, a 20-minute boat ride to Lower Manhattan.
The lottery opens as the cost of living and rent prices continue to increase around the city. In fact, according to a report from the real estate site StreetEasy, the median asking rent in NYC was $3,800 in June, 1.3% higher than at the same time last year.
The lottery ends on Sept. 23. For more information, visit housingconnect.nyc.gov.
Across the water in Manhattan, an affordable housing lottery opened recently at Hudson Yards, offering slightly less expensive rents starting at $1,655 for a studio. The lottery ends on Oct. 9.
