Housing lottery launches for 143 apartments in the Financial District

Housing lottery applications are open for 143 rent-stabilized apartments at a new development in Manhattan’s Financial District. Households that earn $37,578 to $200,900 are eligible to apply, depending on the number of people you live with. Rents start at $912 for a studio.

The pet-friendly, doorman building at 55 Broad St. has a gym, party room, pool, yoga studio, shared laundry room, and a roof terrace, though additional fees may apply to access some of those amenities. It’s located near the Broad Street subway station, serving the J and Z trains, and the Wall Street station, with service to the 2 and 3 lines.

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A rendering of the rooftop pool at 55 Broad St., overlooking the Financial District.

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Photo courtesy NYC Housing Connect

Developed by Metro Loft and Silverstein Properties, the former office building was once home to Goldman Sachs’ headquarters until the early 1980s. The two developers have been working since 2022 to convert the 36-story building into more than 500 CetraRuddy-designed apartments.​​

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The developers expect to receive a tax break through a new incentive program aimed at encouraging office-to-residential building conversions.

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Photo courtesy NYC Housing Connect

The apartments are set aside for New Yorkers earning 40 to 100 percent of the area median income (AMI)—a metric that depends on how many people you live with. Currently the AMI for New York City is $124,300 for a two-person household. The available apartments include studios as well as one-, two-, and three-bedroom units. 

There are 41 studio apartments available for households earning from $73,749 to $103,680. The rent for these apartments is $1,967. 

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The landlords may charge extra fees for access to some of the amenities, such as the gym.

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Photo courtesy NYC Housing Connect

Applications must be submitted online or postmarked no later than August 4th.

If you’re interested and think you might qualify for one of these apartments, you can create a profile and apply online via NYC Housing Connect. For details on this particular lottery, click here. Don’t apply more than once, or you could be disqualified.

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A rendering of the lobby of 55 Broad Street, located between Exchange Place and Beaver Street.

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Photo courtesy NYC Housing Connect

Winning a rent-stabilized apartment can be life changing: Rent increases are capped and lease renewals are automatic, providing long-term stability for NYC renters. Need more information on how the housing lottery works? Check out “6 steps for applying to NYC’s affordable housing lottery.”

For some advice from successful applicants read “How to land a rental apartment through NYC’s affordable housing lottery.” And if you or someone you know is having trouble with the application process, consider reaching out to a housing ambassador in the community.

Note: Brick Underground is in no way affiliated with New York City’s Department of Housing Preservation and Development or the Housing Development Corporation. If you are interested in applying to these or other affordable housing developments, please go to NYC Housing Connect for information and instructions.

Have you successfully won an apartment through the affordable housing lottery? If you have first-person advice to share about the process, we’d love to hear from you. Please send us an email. We respect all requests for anonymity.