Rent may cost a fortune in many metros—but not in this newly constructed eight-story building tucked away in a desirable neighborhood in New York City.

The 146-unit residential building at 50-25 Barnett Ave. in Sunnyside, Queens, is offering monthly rents starting at an astonishingly low $545 a month.

The catch? You have to be low-income and you have to be extremely lucky. Only two of those ultralow-priced units are available, and no doubt, thousands of people will apply for them.

You can try your luck with the housing lottery here at Housing Connect NYC.

Things you should know: Those two below-$600 apartments are studios, with a limit of two people per household. To snag one, you have to earn only 30% of the area median, or between $22,492 to $34,020 if you’re a single person, or $22,492 to $38,880 for two people.

If a studio isn’t your thing, there are one-bedrooms in the same building going for the also-astonishingly low monthly price of $693. Eight of these units are available, so you have a slightly better chance of snagging one.

For a one-bedroom, a resident can earn $28,080 to $34,020. Two people can earn up to $38,880, and three up to $43,740.

Additionally, within the 30% of the median-income category, there are six two-bedroom units and two three-bedroom units up for grabs. The top rent in the category is an enviably low $925.

Beyond income requirements, you also can’t have assets worth more than $48,600.

If you don’t qualify, don’t despair. There are also apartments set aside for those who earn 50% of the area’s median income, as well as 80%. Household earnings can include salary, hourly wages, tips, Social Security, child support, and other income.

The largest number of apartments (47) is set aside for those earning 80% of the area’s median income who want a one-bedroom apartment. For those, the rent is $2,211, and more in line with the neighborhood median rent of $3,150—but still significantly cheaper.

In fact, you can earn up to $160,720 and still qualify to live in the building.

“You might not think someone with a $100,000 income would need affordable housing, but this is New York, after all,” New Yorker Michael Halden previously told Realtor.com.

A small percentage of units is set aside for those with mobility or vision/hearing impairment. Additionally, 10% are set aside for those living within community board 02, and 10% for municipal employees or military veterans.

For the full breakdown of rents and income requirements, visit Housing Connect NYC.

How are winners chosen?

“Nobody really knows how it works. It’s like figuring out how magic works,” Douglas Elliman top 1% rental agent Keyan Sanai, who lives in a building with 20% affordable units, tells Realtor.com®.

However, according to the fine print, after the application deadline of June 8, 2026, candidates will be selected for review through a lottery process.

If you’re selected and “appear to qualify,” then you’ll be “invited” to submit documents to prove your eligibility, including household size, identity of members of your household, and your household income.

You may not hear from anyone for two to 10 months after you apply.

Welcome to The Barnett

Let’s say that luck is on your side and you snag one of these gloriously affordable apartments. Where will you be living?

The Barnett is an elevator-building with amenities that include a part-time concierge, on-site resident manager, fitness center, community room, children’s playroom, package room, and landscaped courtyard.

Units come with microwaves, dishwashers, and electric stoves. Your rent includes heat and hot water. And, yes, pets are welcome. Additionally, there are about 170 parking spaces.

It’s a smoke-free building, and there are no fees of any kind to apply.

The mixed-use building comes with 5,323 square feet of office area that will be reserved for nonprofit use, according to YIMBY.

The building was developed by Phipps Houses, the largest and longest-running nonprofit developer, owner, and property management company of affordable housing projects in New York City, founded by Henry Phipps in 1905. Yes, affordable housing was needed back then, too.

“The goal was to create a safe, sanitary space for people to live in and for children to have a place to play,” says the website.

Phipps Houses isn’t new to Sunnyside. The firm also developed the Sunnyside Garden Apartments, renowned for their lush interior gardens designed by landscaper Marjorie Sewell Cautley. The final buildings were completed in 1935.

As for the neighborhood, it offers plenty of retail, medical centers, public transport, restaurants, grocery stores, banks, day care centers, and everything else you need for day-to-day living, all within strolling distance.

The “nabe” is also very close to the popular neighborhoods of Long Island City and Astoria. It is also considered safe and family-friendly, with an overall crime grade of A-.

The only downside of this lottery is your chances. If you’re interested, don’t delay your application.