August 21, 2026
A brand new affordable housing lottery just opened for 29 fully renovated cooperative apartments in three historic West Harlem buildings, and the income requirements are far more attainable than most people expect for a Manhattan address.
The apartments are located at 505, 523 and 527 West 134th Street, three five story buildings originally constructed back in 1905. Together they make up what is known as the 505 West 134th Street Cluster, and the project was developed by ELH Mgmt. LLC.
These are not new construction units dressed up for a press release. The buildings just went through a $31.4 million gut renovation as part of the New York City Department of Housing Preservation and Development's Affordable Neighborhood Cooperative Program, often called ANCP. This program exists specifically to take distressed, city-owned buildings and turn them into affordable, resident-controlled cooperative housing for low- and moderate-income New Yorkers.
This is usually the first question everyone asks, and it is a fair one. The 29 units being offered through the lottery are set aside for households earning 70 percent of the area median income. In dollar terms, that means eligible annual incomes range from $68,242 to $147,280, depending on how many people are in your household.
That is a meaningful range. A single applicant near the lower end and a family of four or five near the higher end could both potentially qualify, which is part of what makes this lottery worth sharing with clients, friends, or family who have been priced out of the idea of owning in Manhattan.
It is also worth noting that this lottery only covers part of the building. Forty additional units are being sold directly to returning long-term tenants who already lived there before the renovation, so this really is a story about restoring a community as much as it is about creating new homeownership opportunities.
If you are picturing a quick coat of paint and new appliances, this was a much more serious undertaking. The renovation involved extensive structural work along with upgrades needed to meet current accessibility standards. Every unit received new flooring, doors, energy efficient windows, and fully rebuilt kitchens and bathrooms.
On the systems side, the buildings got new or upgraded plumbing, heating and HVAC, electrical service, fire alarms, sprinklers, and video intercoms. The exteriors were not overlooked either, with masonry restoration, new roofing, restored cornices, and improvements to the courtyards. Inside, buyers can expect quartz countertops, new kitchen cabinets and vanities, and stainless steel ENERGY STAR appliances. RKTB Architects P.C. led the design work on the project.
Applications are being accepted now through NYC's Housing Connect portal, the city's centralized system for affordable housing lotteries. The deadline to submit your application is September 8, 2026, so anyone interested should not wait until the last minute.
You can review the full eligibility requirements and submit an application directly through the official Housing Connect listing. A few practical tips if you or someone you know is applying:
Disclaimer: This content is intended for informational and educational purposes only and is not intended to be construed as legal, tax, financial, or insurance advice. Every property and tax situation is unique. Please consult a licensed attorney, CPA, or tax professional regarding your specific circumstances before making any decisions related to property improvements, tax assessments, or real estate transactions. Mohammed M. Rahman is a licensed real estate broker in New York. Contact: Mo@ClosedByMo.com.
