202 East 23rd Street Update 06/05/23

Affordable Housing Lottery Kicks Off for Gemma Gramercy

NYC Housing Connect has started an affordable housing lottery encompassing 28 units within a new, 20-story residential tower, located at 202 East 23rd Street in Manhattan's Kips Bay neighborhood. Eligible applicants must earn between $28,663 and $198,250 annually, or sit within 40 to 130 percent of the area median income (AMI). Applications will be accepted either online or by mail until July 31, 2023.

Developed by , the building will be known as "Gemma Gramercy". It will contain residential units altogether, and square feet of commercial space. This is likely to come in the form of ground-floor retail.

The development will offer several tenant amenities including a residential lounge, a fitness center, a co-working space, a roof deck, and a bicycle storage area.

World-renowned firm, , is responsible for designing the structure, which stands feet tall and totals square feet. Led by general contractor, , work is expected to finish towards the end of 2023, with a $56 million financing package seeing the project to completion.

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