Credit: NYC Department of Housing Preservation and Development
Applications are now being accepted for 42 mixed-income apartments at a new luxury rental in Hell’s Kitchen. The 28-story building at 250 West 49th Street offers spacious residences, a wide range of amenities, and a prime location with convenient access to public transit. New Yorkers earning 70 and 130 percent of the area median income can apply for the units, priced from $1,800/month studios to $4,349/month two bedrooms.
Developed by Chess Builders and designed by S. Weider Architect, the project includes 138 rental units and 2,500 square feet of ground-floor retail.
Amenities include a business center, fitness room, theater, recreation room, children’s playroom, playground, secure bike storage, a backyard, and a landscaped rooftop terrace.
Apartments come with in-unit washers and dryers, dishwashers, high-end kitchen appliances, upgraded countertops and finishes, air conditioning, hardwood floors, and high-speed internet. Pets up to 30 pounds are permitted.
The property is near several subway stations, with access to multiple subway lines and bus routes.
In January, Chess Builders secured a $79 million loan from S3 Capital to finance the project. The building is fully vested under the now-expired 421-a program and will receive a 35-year tax abatement, according to Multi-Housing News.
Chess Builders had purchased the lot from Hakimian Organization for $30 million the same month, as reported by Commercial Observer.
Qualifying New Yorkers can apply for the apartments until November 3, 2025. Complete details on how to apply are available here.
Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.
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