RIU Hotel Apartments Near Theater DistrictAs I am on a strict budget, I was looking to see what type of apartment I could get for around $1500 per month. What I found was very interesting.

The first thing I found was a hotel in the theater district called the RIU Hotel. Apparently, it is relatively new. It has over 600 hotel rooms, 8 townhouses and 10 apartments. The hotel is built on a site that had a vacant 19th century building. The ten apartments were available through the housing lottery starting at $1486 per month. Five of the apartments have two bedrooms, and five of the apartments have 3 bedrooms. Here is where I had difficulty understanding how to apply for an apartment. The article I read at Brick Underground said that half of the apartments would go to current residents of the neighborhood, 5 percent would go to those with mobility disabilities, 5 percent would go to city employees, and two percent would be for those that had visual or hearing impairments. 10 percent of 10 is 1, right? That would mean 5 percent of 10 is ½, and 2 percent of 10 is 1/5. How does one rent ½ or 1/5 of an apartment?

My next stop was at Streeteasy.com, I searched Manhattan for any size apartment that was under $1500 per month, and my search results came back with 62 listings. So for $1500 per month, the biggest apartment available is a 600sqft 1 bedroom 1 bath.

I know there are occasionally options for middle-income families to apply for apartments through the NY Housing Council, but when I checked the website I didn’t see any. The majority of them are geared towards low-income families.

If you don’t send in an lottery application when the apartment is new, how do you know when there is an opening? I, like many families with a salary between $75K and 92K, would like to live in luxury apartment rentals near Theater District, so I will just have to keep looking to find out when the next lottery is happening. Hopefully, I can find one in or around Via 57 West. I just like the area, and the building is pretty cool.