The following statement was submitted Manhattan Borough President Mark Levin.
Friend –
We are in the worst housing affordability crisis in our city’s history. Market rents have skyrocketed to unsustainable levels—$5,368 per month on average, with two-bedrooms often exceeding $6,500.
This crisis threatens the very soul of Manhattan, pushing out working families, artists, essential workers, and even our children. But there are affordable housing units available!
Right now, six affordable housing lotteries are open in Manhattan, and I encourage every eligible New Yorker to apply through the Housing Connect portal.
One project on that list deserves special mention: 25 Water Street—a former office building in the Financial District that has been transformed into over 1,300 new homes. It’s the largest office-to-residential conversion in U.S. history. Affordable two-bedroom apartments there start at just $1,116/month.