For most, owning an apartment on the Upper West Side, just minutes from Central Park, is an expensive dream.

However, New York apartments in prime locations, complete with hardwood floors and air conditioning, are selling for just $174,000.

But there is a catch: the cheap properties in a five-story pre-war building without an elevator are sold by lottery in which only people with an income below a certain amount can participate.

The price of studio apartments is estimated at $173,801, while one-bedroom apartments cost around $184,990.

Only households with annual incomes of about $150,000 or less – 120 percent of the median income in New York – qualify for the drawing.

In this pre-war elevator-less building in a prime New York location, apartments are being sold through a lottery for just $174,000.

Studio and one-bedroom apartments on West 80th Street in Manhattan are being sold by lottery

The properties are in a prime location, just minutes from the city’s Central Park

After the renovation, the building will include both studio apartments ranging in size from 21 to 32 square meters and one-bedroom units ranging in size from 42 to 50 square meters, NBC New York reported.

Upper West Side is one of New York’s wealthiest neighborhoods with a median home price of $1.7 million, or $1,600 per square foot.

Anyone who wants to get one of the 17 units at 165 West 80th Street must enter the raffle by the registration deadline on August 27th.

Applicants must use the home as their primary residence and must not currently or previously own any real estate.

Prospective buyers must also have 5% of the purchase price available as a deposit.

A kitchenette in one of the discounted apartments. Applicants must use the property as their primary residence

A floor plan of one of the studio apartments with bathroom and small kitchen

There are restrictions on the resale of the reduced properties and a so-called flip tax is levied on all future sales.

Buyers are responsible for paying for their own electricity and a monthly maintenance fee increases by 2% annually to “maintain adequate reserves and operations.”

Each of the apartments shall be entitled to a 40-year exemption from property tax under Article XI.

The raffle also includes homes in the Upper East Side, Hudson Yards and Astoria.