Apartments Starting At $940/Month — A Converted Century-Old Brewery In Murray Hill Just Opened An Affordable Housing Lottery

Finding a deal in Manhattan usually feels like hunting for a four-leaf clover, but a new residential conversion in Murray Hill is offering New Yorkers a lucky break. While typical rents in the area continue to climb, a historic former brewery has just hit the market with nearly 30 apartments priced far below the neighborhood average. From the record-breaking hotel-to-housing conversion in Queens starting at $784/month to the Willets Point project at $486/month, the push for accessible living is hitting high gear. But the latest milestone is a treat for history buffs and hops lovers alike–the doors are officially open at the latest affordable housing lottery in Murray Hill: 650 First Avenue (also known as 37th and 1st), a stunning conversion of a 120-year-old brewery. 🍺 From Hops to Housing ---------------------- Located on the corner of East 37th Street and First Avenue, this 11-story building has lived many lives. It first opened in 1904 as the headquarters for the Kips Bay Brewing Company, a neighborhood staple that even managed to survive Prohibition. After the brewery tapped its last keg in 1947, the building served as medical offices for NYU Langone. Now, thanks to developer Lalezarian Properties and Ismael Leyva Architects, it has been completely reimagined as a residential gem. The project is a masterclass in “adaptive reuse,” blending a seven-story pre-war brick base with a brand-new, four-story glass addition that brings a modern crown to the historic structure. 🏠 Inside 650 First Avenue ------------------------- Because the building was originally an industrial space, the units boast features you rarely find in cookie-cutter apartments. Here’s a look at what the lottery offers: * The Layout: 28 mixed-income units (out of 111 total) are up for grabs via the lottery * The Price Point: monthly rents are tiered by income, with studios starting at $940, one-bedrooms at $995, and two-bedrooms at $1,168 for those at the 40% AMI level * High-End Interiors: think: keyless entry, soaring high ceilings, stone and wood flooring, and kitchens equipped with stainless steel appliances and dishwashers. Plus, every unit includes an in-unit washer and dryer * Amenities: residents can enjoy a 24-hour attended lobby, a fitness center, two resident lounges, and a roof deck with sweeping views of the East River Nearby public transit includes the M15, M15+, and M34+ bus routes, along with the NYC Ferry at the East 34th Street stop. 📈 Eligibility & How to Apply ---------------------------- The lottery is open to New Yorkers earning 40%, 80%, and 100% of the Area Median Income (AMI). Depending on the unit size and household count, the eligible income range spans from $37,886 to $175,000. If you’re ready to call a former brewery home, don’t wait–the lottery is open through February 18, 2026. You can apply online via NYC Housing Connect. While the initial lottery for the Baisley Pond Park conversion in Queens made history as a hotel-to-housing “first,” this Murray Hill project proves that the city’s architectural past is the key to its affordable future. Source: https://secretnyc.co/converted-murray-hill-brewery-affordable-housing-lottery/