If you think an apartment on the Upper West Side, just steps from Central Park, is only affordable for rich people, you’re wrong.
In New York City, apartments in a prewar elevator-less building on West 80th Street are for sale with prices starting at just $174,000.
Yes, you read that right – it is possible to own an apartment in New York for less than $200,000.
The five-story building will be converted into a cooperative with 17 residential units.
The apartments are sold as part of a lottery, but there is a catch: not everyone can take part in this lottery.
New Yorkers earning less than 120% of the region’s media revenue are eligible, meaning two-person households with a combined income of less than $150,000 are eligible.
The city’s requirements also include that the apartments – studios between 21 and 32 square meters or one-bedroom apartments between 43 and 50 square meters – must be the owner’s primary residence.
The city is also raffling off homes in the Upper East Side, Hudson Yards and Astoria. The deadline to register for the lottery is August 27.
Check out photos showing what some of the units look like:
