📰 Beat | Affordable Housing News Learn more about the exciting new affordable housing development at 25 Water Street.
Forget everything you thought you knew about Manhattan rent. Something historic is happening downtown—and yes, it’s real.
Thanks to a bold office-to-housing transformation at 25 Water Street, more than 1,300 new apartments are becoming available in the Financial District—including affordable units starting at just $1,116/month for two bedrooms. 😮
And right now, applications are open through the NYC Housing Connect lottery.
👉 Click here to view all open Manhattan lotteries
🏢 What’s 25 Water Street?
Once a towering office building, 25 Water Street has just completed the largest office-to-residential conversion in American history—a big deal not just for architects, but for anyone dreaming of a truly affordable Manhattan apartment.
The building now includes:
- Over 1,300 brand-new homes
- Multiple income-tiered affordable housing units
- Options for individuals, couples, and families
- A modern residential layout in the heart of downtown
It’s sleek, central, and (best of all) actually accessible for working New Yorkers.
💬 From the Borough President’s Office about 25 Water
Here’s what Manhattan Borough President Mark Levine shared in his latest newsletter:
“We are in the worst housing affordability crisis in our city’s history… But there are affordable housing units available! Right now, six affordable housing lotteries are open in Manhattan—including one that ends today. I encourage every eligible New Yorker to apply.”
And yes—25 Water Street was called out by name as a model project: “Affordable two-bedroom apartments there start at just $1,116/month.”
With average Manhattan rents now hitting over $5,300, this is a serious moment of relief for families, artists, essential workers, and young people trying to stay in the city they love.
🎟️ How to Apply to 25 or Other Units
NYC’s Housing Connect platform is the gateway to all active housing lotteries. It’s free to create an account, and applications are open right now for a handful of Manhattan buildings—including 25 Water Street.
📝 Apply now at Housing Connect
🔎 Pro tip: You’ll need to upload your documents, confirm your income range, and follow up on next steps if selected.
🌆 Why It Matters
As conversions like this take shape across the city, they represent more than just housing—they’re a shift in what kind of city New York wants to be. 25 Water Street is a sign that affordable living and central location don’t have to be opposites.
So if you—or someone you love—is looking for a place to live in Manhattan that won’t break the bank, this is your chance.
📍Bookmark This:
- 🔗 NYC Housing Connect
- 🏙️ More info on 25 Water Street
- 📣 Follow @MBPMarkLevine for more housing updates
Applications are open—but they won’t stay that way forever. Go take your shot at calling 25 Water Street home. 🗝️
And just so you know: this post isn’t sponsored. We’re not affiliated with NYC Housing Connect or Borough President Levine’s office. We just thought this opportunity was worth a beat—especially with affordability being such a challenge for so many New Yorkers.
Stack Work Advances While Answers Do Not
On June 17 and 18, HPD told the first meeting of the Roosevelt Island Steam Plant Demolition Community Advisory Group that smokestack demolition had no projected start date. Residents and the CAG would receive at least five business days’ advance notice once a date was set. Scaffolding around the stacks could not proceed until soil removal and backfill were complete and the area stabilized.
