It’s getting harder and harder to find middle-income earners in super-pricey Manhattan. The result: a number of “affordable” middle-income apartments in Hell’s Kitchen are sitting empty, as developers struggle to find residents who fit the income criteria.
While inventory remains extremely tight across the city, the Gotham West complex has vacant one-bedrooms that cost $2,509 – well below the average rent in Manhattan, according to the New York Post.
To qualify for that one-bedroom, potential renters must make between $88,102 and $95,865 a year.
The building, located between West 45th and West 44th streets, also has studio and two- and three-bedroom vacancies.
“It’s an unusual problem to have, but it’s a good problem because we have the apartments ready,” Manhattan Borough President Gale Brewer told the Post. [NYP] – Christopher Cameron