It’s been on my mind to catch up on 25 Water, aka 4 New York Plaza, and now called SOMA — for South Manhattan. Somehow does not compute — maybe because once you are Downtown you can’t also be South? And not to be confused with the SOMA that is South of Myrtle Avenue. Anyway, the news there, which I saw in The Broadsheet first, is that there is a lottery for the 330 affordable units. The building will have 1320 units overall, across 1.1 million square feet of interior space — it’s the largest conversion in the country.

“SoMA offers 100,000 square feet of unmatched amenities — indoors and out, redefining luxury living. From serene gardens to expansive lounges, every space invites you to enrich your daily life,” the website says. The building was 32 stories, and they added another 10. Plus the entire brick façade was replaced along with the addition of more expansive windows and of course a gut reno inside.

The units will be available to individuals and families earning between 40 and 90 percent of “area median income” or AMI, which you can see on this chart at the city’s Housing Preservation & Development site. For a single person, 40 percent of AMI is $43,480; 90 percent is $97,830.

You can see the details on income qualifications and apartments here on this breakdown for the number of units at each monthly rent, as well as the salary range to qualify:
1 Bedroom – $989 to $2,401
2 Bedroom – $1,166 to $2,861
3 Bedroom – $1,328 to $3,286
Studio – $1,986 to $2,249

The building was designed by the architecture firm CetraRuddy. The affordable units come out of the city’s 467-M tax exemption program.

The lottery closes in 47 days.