Affordable Housing Lottery Open on 80th Street: Studios and 1-Beds for Under $200K

165 w 80 affordable housing lottery

An affordable housing lottery for seventeen studio and one-bedroom apartments at 165 West 80th Street (between Columbus and Amsterdam avenues) is now open.

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The lottery includes ten studios and seven one-bedroom units for sale at the HDFC co-op. The studios range from 240 to 343 square feet and the one bedrooms between 466 and 544 square feet. Amenities include smart heating and cooling controls, air conditioning, hardwood floors and “outdoor areas,” though the NYC Housing Connect website does not elaborate on this, and there aren’t any photos of outdoor space.

NYC Housing Connect

NYC Housing Connect

Prospective buyers must not make more than 120% of the area median income (AMI), which NYC’s Department of Housing Preservation and Development (HPD) lists as $127,100 for a three-person family in 2023. The max household income for 165 W. 80th St. applicants is $167,760, and applicants must have less than $281,025 in assets in order to be eligible. Buyers must use the unit as their primary residence and are responsible for electricity.

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Once the lottery closes, prospective residents who are selected will have the opportunity to purchase a unit and should have 5% of the purchase price available for a down payment. The estimated sales prices are $173,801 for the studios and $184,990 for the one-bedrooms, with each requiring a monthly maintenance payment of around $1,000.

Buyers will have to pay a flip tax if they choose to sell their unit. There are resale restrictions, though the website does not detail exactly what they are. “There are Resale Restrictions” is all it says.

A virtual information session will be held on July 12. The deadline to enter the lottery is August 27. Visit the website here for more information or to enter the lottery.


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