The Market

Snag a stabilized East Harlem studio for just $539 a month

By Virginia K. Smith | March 4, 2015 - 11:59AM

Good news for anyone still clinging to the dream of living without roommates in Manhattan: applications are now open for $539/month studios in Prospero Hall, a new development in East Harlem.

While the income requirements will close out a lot of applicants—you have to make between $23,520 and $35,280 a year, according to NYC Housing Connect—the 32 studios are available to people from across the city, unlike most affordable housing where 50 percent of apartments are allocated for current neighborhood residents. (Five percent of units will be set aside for applicants with mobility impairments, and 2 percent for those with visual or hearing impairments.)

And unlike most affordable housing units you currently see on the market—which are set aside in otherwise pricey new developments in exchange for government subsidies—the entire Prospero Hall building is intended for use as "supportive housing for homeless veterans and low-income single adults," according to the website of its developers at the Lantern Organization, a non-profit that focuses on housing initiatives. In addition to standard amenities like a community room, 24-hour security, and garden space—the building is adjacent to the neighborhood's "Magic Garden"—residents of Prospero Hall will have access to on-site staff to help with things like counseling, education, and employment development. (We've reached out to Lantern for more details about the building, and will update if we hear back.)

If you're interested and meet the requirements, check out our tips on applying for affordable housing, and get your applications in by May 5th.


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