355 East 86th Street on the Upper East Side: 20 Apartments on Housing Connect From $2,000 a Month
Quick answerAs of October 17, 2026, NYC Housing Connect lists 20 income-restricted apartments at 355 East 86th Street, a new 23-story building on Manhattan's Upper East Side. Rents run from $2,000 to $2,419 a month. Applications are not open yet: the listing has no deadline. All 20 are at 80% of area median income. Every rent is under the 2026 CityFHEPS maximum for its size, and HPD says minimum income does not apply with a voucher.
Last checked: October 17, 2026, against the Housing Connect listing for lottery 7677, read twice, and Housing Connect's open-lottery search; the Housing Connect FAQ; HPD's 485-x page and Inclusionary Housing page; City Planning's Mandatory Inclusionary Housing data; Department of Buildings jobs M01146211, M01142990 and M01073648 and certificates of occupancy; HPD's Affordable Housing Production by Building data (project 76035); PLUTO; ACRIS for Manhattan block 1549; DSS-8r (October 14, 2026); HUD's Small Area Fair Market Rents; the MTA's station data; and New York YIMBY's reports of June 25, 2025, October 21, 2025 and September 9, 2026. How VoucherMatch reports these guides and corrects errors: how we report.
- 20apartments listed on Housing Connect, all at 80% AMI
- 99apartments in the building, in its permit
- $2,000the lowest rent, a studio
- $2,419the highest rent, a two-bedroom
- $79,132the lowest yearly income the listing accepts without a voucher
- Not openno deadline posted as of October 17, 2026
- Area median income (AMI)The middle income for the area, adjusted for household size. A lottery apartment "at 60% AMI" is for households earning up to about 60% of it. The agency's income chart turns each level into dollar limits.
- Lottery (NYC Housing Connect)Every complete application gets a random log number. The marketing agent works through applications in log-number order within each preference group, so applying early does not help.
- Minimum incomeThe lowest yearly income the listing accepts for an apartment, so the rent is not too large a share of income. Housing Connect does not apply it to households with a voucher or rental subsidy.
- Marketing agentThe company the building hires to run its lottery and check applicants' papers.
- Certificate of occupancyThe Department of Buildings' sign-off that a building, or part of it, can be lived in.
- 485-xA New York City property tax break for new rental buildings. HPD's page says "All Affordable Housing Units will be permanently affordable."
- Inclusionary HousingA City zoning program run by HPD. Its page says it "is designed to promote and preserve affordable housing where zoning has been modified to encourage new development."
- Housing Choice Voucher (Section 8)Rental help run by a housing authority. You find a home, and the agency checks the unit, rent and your household before it approves payment.
- CityFHEPS (New York City)The City Fighting Homelessness and Eviction Prevention Supplement: a City-funded rent supplement that the Department of Social Services (DSS) pays straight to the landlord.
- Payment standardAn amount the agency uses to work out housing assistance for a unit size and area. It does not mean that any home at that rent will be approved.
- Utility allowanceThe agency's estimate of the cost of utilities you must pay. It is not a promise to pay your actual bills.
- FMR and SAFMRHUD rent estimates for an area (Fair Market Rent) or ZIP code (Small Area Fair Market Rent). They include rent and most tenant-paid utilities. Your agency may use a different payment standard.

What Is Being Built at 355 East 86th Street
355 East 86th Street is a new 23-story building with 99 apartments, one of two joined buildings going up at First Avenue and East 86th Street.
- Permit: Department of Buildings job M01146211, filed November 21, 2024, is a new building of 23 stories, 235 feet and 99 dwelling units. It reads "PROPOSED TWENTY THREE (23) STORY MIXED-USE DEVELOPMENT".
- The second building: job M01142990, at 1655 First Avenue, was filed the same day with the same size. It is not in this listing.
- Owner and builder: the permits name Chess Builders LLC. Property records and PLUTO name East 86 Realty LLC as owner of both lots.
- Architect: S. Wieder Architect P.C. filed the plans. New York YIMBY credits the renderings to "S. Weider Architect PC."
- Program: the listing says "20 units at 80% AMI: 485x--Inclusionary Housing studio/1 & 2BR."

Watch outone project, two addresses. Housing Connect and the permit for lot 20 say 355 East 86th Street. New York YIMBY calls the whole project 1655 First Avenue, "alternately addressed as 355 East 86th Street". On October 21, 2025, it wrote that "Building A will face East 86th Street". Building B will "stretch north along First Avenue".
- July 22, 2024a filing seeks "Full demolition of four story structure" on the site.
- November 21, 2024both new building applications are filed.
- February 28, 2025East 86 Realty LLC buys the site for $50,000,000. Its bank mortgages carry the same date.
- July 15, 2025the owner signs an agreement with the City. HPD's data gives the same project start date.
- July 18, 2025the first permit for 355 East 86th Street is issued.
- September 9, 2026YIMBY reports the project "is anticipated to be completed in the winter of 2027, as noted on site."
- October 17, 2026Housing Connect lists 20 apartments with rents and no deadline.
What it means: city data showed no certificate of occupancy on October 17, 2026, and the latest report gives winter 2027 for completion.
Source: Department of Buildings jobs M01073648, M01142990 and M01146211; ACRIS, Manhattan block 1549; HPD project 76035; New York YIMBY; Housing Connect.
- Affordable apartments20 on Housing Connect. HPD's production data counts 9 low income apartments (1 studio, 3 one-bedrooms and 5 two-bedrooms) of 99.
- Floor area98,368 square feet for 355 East 86th Street and 105,266 for 1655 First Avenue in the permits. PLUTO says 91,271 and 88,625. YIMBY says "a combined 193,000 square feet."
- Year built2025 in PLUTO. City data showed no certificate of occupancy.
What 485-x and Inclusionary Housing Mean for These 20 Apartments
The listing names two City programs, and HPD's pages say both keep the affordable apartments income-restricted for good.
- What it isit provides "a real property tax exemption for the construction of new Multiple Dwellings."
- Buildings of 6 to 99 apartments"20% of the units must be Affordable Housing Units at an average of 80% AMI."
- How longaffordable apartments "will be permanently affordable" and "permanently rent stabilized."
- Same doorsthey "must share the same common entrances and common areas as the market rate units".
By VoucherMatch's arithmetic, 20 of the building's 99 permitted apartments is 20.2%, and all 20 are at 80% AMI. No document opened names the 485-x option this building chose.
- Mandatory Inclusionary Housingrequired "within mapped MIH areas". City Planning's MIH map data shows no MIH area at the listing's map point, by VoucherMatch's check.
- Universal Affordability Preference"enacted on December 5, 2024". It lets a building add "at least 20% more housing" for households earning "an average of 60%" of AMI.
- Voluntary Inclusionary Housingnow only for projects "vested under the pre-COYHO zoning text". Its units are generally for households "earning up to 80% of Area Median Income".
- What is known herethe permit was filed November 21, 2024, before the December 5, 2024 change. No document opened says which rules apply. HPD takes program questions at inclusionary@hpd.nyc.gov.
Where 355 East 86th Street Is
The building stands on East 86th Street at the northwest corner of First Avenue, in ZIP code 10028.
- NeighborhoodDepartment of Buildings records place the lot in "Upper East Side-Yorkville". YIMBY says "Manhattan's Upper East Side."
- ZIP code and districts10028 in the listing, the permit, PLUTO and HPD's data. The permit gives Manhattan Community Board 8 and City Council District 5.
- The lotsPLUTO lists 355 East 86th Street as lot 20, with 6,205 square feet, and 1655 First Avenue as lot 24, with 5,977. Both are zoned C2-8A.

Rents and Income Limits in the 355 East 86th Street Housing Connect Listing
The listing shows three rents, from $2,000 to $2,419 a month, and its lowest minimum income is $79,132 a year.
| Apartments | Rent | People | Yearly income |
|---|---|---|---|
| 5 studios, 80% AMI | $2,000 | 1 to 2 | $79,132 to $108,560 |
| 5 one-bedrooms, 80% AMI | $2,092 | 1 to 3 | $85,029 to $122,160 |
| 10 two-bedrooms, 80% AMI | $2,419 | 2 to 5 | $102,686 to $146,560 |
What it means: half of the 20 apartments are two-bedrooms, and the rest are split evenly between studios and one-bedrooms.
Source: Housing Connect listing for lottery 7677, read October 17, 2026. The top of each range is for the largest household allowed.
| Household size | Maximum yearly income, 80% AMI |
|---|---|
| 1 person | $95,040 |
| 2 people | $108,560 |
| 3 people | $122,160 |
| 4 people | $135,680 |
| 5 people | $146,560 |
What it means: income before taxes must be at or under the figure for the household's size.
Source: the same listing.

View the data table
| Household size | Apartments open to that size |
|---|---|
| 1 person | 10 |
| 2 people | 20 |
| 3 people | 15 |
| 4 people | 10 |
| 5 people | 10 |
What it means: only a two-person household can apply for all 20, and a household of six or more cannot apply for any.
Source: the listing's household sizes; counts by VoucherMatch.
- Under $79,132below every minimum, unless the household has a voucher or rental subsidy.
- One person at $79,132 to $85,028only the five studios fit. Over $95,040, nothing fits.
- Three people under $85,029, or four or five people under $102,686nothing fits without a voucher.
- Six people or moreno apartment in this listing allows that household size.
Which Rents a CityFHEPS or Section 8 Voucher Covers at 355 East 86th Street
All three rents are under the 2026 CityFHEPS maximum for the same size, and the closest, the two-bedroom, is $578 under.
The Housing Connect FAQ says: "Minimum income requirements do not apply if you have a voucher or a rental subsidy. However, rent should be within maximum limits allowed by your voucher or rental assistance program."
View the data table
| Apartment size | Lowest rent | Highest rent | CityFHEPS maximum |
|---|---|---|---|
| Studio | $2,000 | $2,000 | $2,604 |
| 1 bedroom | $2,092 | $2,092 | $2,734 |
| 2 bedrooms | $2,419 | $2,419 | $2,997 |
What it means: the studio is $604 under, the one-bedroom $642 under and the two-bedroom $578 under, by VoucherMatch's arithmetic.
Source: rents from the Housing Connect listing; maximums from DSS-8r, effective April 1, 2026, "if all utilities are included in the lease".
Watch outthe listing does not say which utilities tenants pay. If tenants pay some, CityFHEPS counts a utility allowance, and the room under each maximum shrinks. VoucherMatch subtracted nothing because the listing names no utility.
- Your maximum follows your household: DSS-8r lists the studio amount for one person, $2,734 for one or two, $2,997 for three or four and $3,753 for five or six. Two people in a $2,419 two-bedroom would be $315 under their $2,734 amount.
- Credit check: "Applicants qualifying with rental subsidy are not subject to a credit check or review of rental history."
- Section 8: the FAQ lists "Section 8 (HPD or NYCHA)" among the vouchers it accepts. See the New York City Housing Authority page, CityFHEPS vs Section 8 and Section 8 utility allowances in NYC.
How the Rents Compare With Typical Rents in ZIP Code 10028
Every listed rent is at least $1,890 a month below HUD's estimate for the same size in ZIP code 10028.
View the data table
| Apartment size | Lowest rent | Highest rent | HUD fair market rent, ZIP 10028 |
|---|---|---|---|
| Studio | $2,000 | $2,000 | $3,890 |
| 1 bedroom | $2,092 | $2,092 | $4,100 |
| 2 bedrooms | $2,419 | $2,419 | $4,460 |
What it means: each rent is 51% to 54% of HUD's figure. The two-bedroom, at $2,419, is $2,041 under HUD's $4,460.
Source: the Housing Connect listing; HUD's Small Area Fair Market Rents, fiscal year 2027, for ZIP 10028, the building's ZIP in the listing, the permit, PLUTO and HPD's data.
- Utilities: HUD's figure includes most utilities. The listing does not say what its rents include, so the real gap may be smaller.
- In this ZIP code: see voucher apartments in ZIP 10028 and Section 8 apartments on the Upper East Side.
How 355 East 86th Street Was Financed
Property records show a $50,000,000 purchase and three Valley National Bank mortgages, all dated February 28, 2025.
| Document | Parties in the record | Amount |
|---|---|---|
| Deed | 355 East 86th Street LP to East 86 Realty LLC | $50,000,000 |
| Mortgage | East 86 Realty LLC and Valley National Bank | $23,650,000 |
| Agreement | East 86 Realty LLC and Valley National Bank | $35,000,000 |
| Mortgage | East 86 Realty LLC and Valley National Bank | $51,773,101 |
| Mortgage | East 86 Realty LLC and Valley National Bank | $18,226,899 |
What it means: the three mortgages add up to $93,650,000, by VoucherMatch's addition. The records do not say how the money splits between the two buildings.
Source: ACRIS, Manhattan block 1549, lot 24, which then covered the whole site. Each loan also has an assignment of leases and rents.
Two agreements dated July 15, 2025 and recorded August 20, 2025 name the City of New York, one with East 86 Realty LLC and one with Valley National Bank. The index does not say what they cover.
Preferences, Building Features and Transit at 355 East 86th Street
Community Board 8 residents get preference for 20% of the apartments, the listing names 19 amenities, and the Q train stops 0.12 miles away.
- Community Board 8the listing gives 20% to "Community Board Resident (Manhattan CB 08)". The FAQ says this preference "does not apply to developments that do not receive City financing".
- Disabilitythe listing sets aside 1% for mobility and 2% for vision or hearing. The FAQ's general figures are 5% and 2%.
- City workers and veteransthe listing gives 2% to "Municipal Employee/ Military Veteran". The FAQ's municipal preference is 5% in "HPD- or HDC-financed developments".
- Whom to askHousing Connect's applicant hotline, 212-863-7990.
- In the listingelevator, accessible entrance, smoke-free, air-conditioning and hardwood floors. Washers and dryers in units, and a dishwasher in unit.
- Also in the listingmedia room, recreation room, business center, outdoor and rooftop terraces, green space and a spa. Also common area Wifi, security cameras and online rent payment and repair requests.
- In the listing's words"High-end kitchen appliances" and "High-end countertops and finishes".
- In YIMBY's reports"ground-floor commercial space, a cellar level, and a 30-foot-long rear yard," and a roof terrace the two buildings "share."
- Not statedwhether any amenity carries a fee.

| Station | Lines | Straight-line distance |
|---|---|---|
| 86 St | Q | 0.12 miles |
| 86 St | 4, 5, 6 | 0.35 miles |
| 96 St | Q | 0.50 miles |
| 96 St | 6 | 0.59 miles |
| 77 St | 6 | 0.59 miles |
| 72 St | Q | 0.74 miles |
What it means: the Q stations at 86th, 96th and 72nd streets are marked accessible. At 86 St on Lexington, the MTA notes "Uptown local only."
Source: the MTA's station data; distances by VoucherMatch in a straight line from the listing's coordinates (40.777264, -73.949642), so the walk is longer.
- Buses: the listing names stops at Lexington Ave & E 86th St, 2 Avenue & E 79 Street and E 96 St/2 Av.
- Along the lines: see apartments near the Q train and the 6 train.

How to Be Ready When the 355 East 86th Street Housing Connect Lottery Opens
A household can get its profile, income figures and papers ready now, because applications are not open as of October 17, 2026.
On two reads that day, the listing had no deadline. It was not among the 16 rental lotteries in the open-lottery search. Manhattan's 2 open rental lotteries were other buildings.
- 1Make or update a profileat housingconnect.nyc.gov. "If your household summary is flagged as incomplete, you will not be able to submit an application."
- 2Watch the listinga deadline will show on the listing for lottery 7677.
- 3Find your rowcompare household size and yearly income with the tables above.
- 4Apply once"Submit ONLY one application per household."
- 5Paper routethe listing gives "355 East 86th Street Apartments C/O Reside New York 349 Keap Street," Brooklyn, NY 11211, with no opening date or deadline beside it.
What it means: the profile can be finished before any deadline exists.
Source: the Housing Connect FAQ; the listing for lottery 7677.
Check before you payapplying through NYC Housing Connect is free. Its FAQ says "There is no fee to apply for housing using Housing Connect"; a marketing agent may charge a credit or background check fee of no more than $20 per household. No payment app, wire or gift card buys a place in a lottery, and no one should charge you to see or hold an apartment. Apply only at housingconnect.nyc.gov or by mail to the address in the official listing.
- Log numbers"Within a few weeks after the lottery application deadline, Housing Connect randomly assigns log numbers" to complete profiles.
- Documents"Make sure to include ALL requested documents in one submission."
- Rent history or credit"show that you have paid your full rent for the past 12 months" or "have your credit reviewed."
- Voucher holders"the marketing agent will contact you for proof of the subsidy and the amount of rent it covers."
- ID for every adult. "drivers’ licenses, non-driver state ID cards, and IDNYC cards"
- Children under 18. "Birth certificates or other forms of documentation like a school letter"
- Income, address and assets. "pay stubs, tax returns, proof of address, and asset documentation"
- Voucher. proof of the subsidy and the rent it covers
What it means: the marketing agent's request lists the exact papers.
Source: the Housing Connect FAQ.
Key pointthe asset limit is $135,680 for every apartment in Housing Connect's advertisement table. The FAQ sets it at "the maximum income limit for a four (4)-person household" at the apartment's AMI level, and $135,680 is this listing's four-person maximum.
What Is Known and Not Yet Known About 355 East 86th Street
The rents, incomes and apartment count are posted, but the deadline and the advertisement text are not.
- Knownthree rents with income ranges, the asset limit, preferences and set-asides, 19 amenities and a paper application address.
- Not posteda deadline and the advertisement text. The listing's advertisement field is empty.
- Not statedwho pays for electricity, heat, hot water and cooking gas, the pet policy, apartment sizes and floors, amenity fees and the marketing agent's name.
- Whom to askHousing Connect's applicant hotline, 212-863-7990.
If You Need an Apartment Sooner
Nothing is open at 355 East 86th Street yet, so a household that must move soon needs another route.
3 bedrooms, $2,816 a monthHarlem, ManhattanAccepts Section 8 (HCV) · HASA · EHV
3 bedrooms, $3,577 a monthHarlem, Manhattan
3 bedrooms, $3,532 a monthManhattan
Listed by landlords who say which vouchers they accept. These are separate from the lottery. See all Manhattan listings
- Voucher in hand: browse Section 8 apartments in Manhattan, CityFHEPS apartments in Manhattan, CityFHEPS apartments on the Upper East Side and Manhattan two-bedrooms that take Section 8.
- No voucher yet: read how to get a housing voucher in NYC, or see low-income apartments in New York City.
Frequently Asked Questions
When can I apply for 355 East 86th Street on Housing Connect?
Not yet. 355 East 86th Street is Housing Connect lottery 7677, "355 East 86th Street Apartments". As of October 17, 2026, the listing shows rents but no deadline, and the lottery is not in the open-lottery search. A household can finish its Housing Connect profile now and watch the listing for a deadline.
What is the rent at 355 East 86th Street?
Rents run from $2,000 to $2,419 a month. The listing has 5 studios at $2,000, 5 one-bedrooms at $2,092 and 10 two-bedrooms at $2,419, all at 80% AMI. It does not yet say which utilities tenants pay, so the full monthly cost may be higher than the rent shown.
How much do you have to earn for 355 East 86th Street?
Yearly incomes run from $79,132 for a studio to $146,560 for five people in a two-bedroom. The one-bedroom needs at least $85,029, and the two-bedroom needs at least $102,686. HPD says the minimum income does not apply to a household with a voucher or rental subsidy, but the maximum still does.
Does 355 East 86th Street take CityFHEPS or Section 8?
Housing Connect accepts both, and minimum income does not apply with a voucher. All three rents are under the 2026 CityFHEPS maximum for their size, by $578 to $642 a month. The FAQ says rent should be within your program's limits, and a tenant-paid utility would lower that room.
Is 355 East 86th Street the same building as 1655 First Avenue?
No, but they are joined. City permits treat them as two 23-story buildings with 99 apartments each, on lots 20 and 24. New York YIMBY calls the whole project 1655 First Avenue, "alternately addressed as 355 East 86th Street". The Housing Connect listing covers only 355 East 86th Street.
Are the rents at 355 East 86th Street below market?
Yes, compared with HUD's figures. Every listed rent is at least $1,890 below HUD's fiscal year 2027 fair market rent for ZIP code 10028. The two-bedroom, at $2,419, compares with HUD's $4,460. HUD's figure includes most utilities, and the listing does not yet say which utilities its rents include.
Sources for this article (17)
- Housing Connect listing for lottery 7677 (housingconnect.nyc.gov)
- Housing Connect FAQ (housingconnect.nyc.gov)
- 485-x page (nyc.gov)
- Inclusionary Housing page (nyc.gov)
- Mandatory Inclusionary Housing data (data.cityofnewyork.us)
- jobs (data.cityofnewyork.us)
- certificates of occupancy (data.cityofnewyork.us)
- Affordable Housing Production by Building (data.cityofnewyork.us)
- PLUTO (data.cityofnewyork.us)
- ACRIS (data.cityofnewyork.us)
- DSS-8r (nyc.gov)
- Small Area Fair Market Rents (huduser.gov)
- station data (data.ny.gov)
- June 25, 2025 (newyorkyimby.com)
- October 21, 2025 (newyorkyimby.com)
- September 9, 2026 (newyorkyimby.com)
- housingconnect.nyc.gov (housingconnect.nyc.gov)
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