Manhattan Avenue Development
127 Dupont St
New York City, New York County, New York 11222

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Funding Programs

Manhattan Avenue Development was developed and operates with Federal housing financing. The property utilizes the Project Based Sec. 8 Federal housing program to make rent affordable to lower income tenants.

Section 8

Manhattan Avenue Development has a project-based Section 8 contract. 24 of the 25 total units at the property receive Section 8 assistance. This means that 96% of the renter households in the property pay no more than 30% of their adjusted income for rent.

The current Section 8 contract was effective on January 01, 2012 and the contract expires on December 31, 2021. The Section 8 contract rent is 129.4% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are $1,357.00 for One Bedroom, $1,571.00 for Two Bedroom, and $2,021.00 for Three Bedroom.

26% of New York properties and 26% of all properties across the country have Section 8 rental subsidies. See the Rent Subsidies section for more.

Overview

Manhattan Avenue Development is an affordable apartment community located in New York City, New York which is located in New York County. The property is located in New York's 13th Congressional District served by Representative Adriano Espaillat (D), Senator Charles Schumer (D) and Senator Kirsten Gillibrand (D).

Manhattan Avenue Development is an apartment community containing 24 rental units. The property contains 49 bedrooms and based on typical apartment occupancy limits, Manhattan Avenue Development is home to not more than 93 persons when fully occupied.

Rent Subsidies

Manhattan Avenue Development provides rental subsidies to renters. The type of subsidy provided to apartment renters in New York City, NY by this property is Project Based Sec. 8.

This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays the difference. To qualify, a renter must earn 50% or less of the Area Median Income.

There is a minimum rent payment of not less than $25 and as much as $50 for all subsidy recipients at this property. That means that even if a renter has zero income, they will still be required to pay rent. In recent years, there have been various legislative proposals to increase the Section 8 minimum rent but advocates make the valid point that minimum rents affect the poorest of the poor.

Unit Mix

Manhattan Avenue Development contains a mix of 24 assisted one, two, and three bedroom apartments for rent. There are 9 One Bedroom, 5 Two Bedroom, and 10 Three Bedroom apartments in this property. The unit mix is 38% One Bedroom, 21% Two Bedroom, and 42% Three Bedroom apartment rentals. The average bedroom size for Manhattan Avenue Development is 1.96.

New York's 13th

Congressional District

24

Total Units

24

Project Based Sec. 8 Units

129.4

% of Fair Market Rent

31-Dec-21

Project Based Sec. 8 Contract Expiration

One, Two, and Three

Unit Mix

1.96

Average Bedroom Size

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† These counts are estimates based on the data available from HUD. Learn More About Our Data