Dominique Strauss-Kahn will be allowed to leave home confinement for one weekly religious observance, medical appointments, meetings with lawyers and court appearances, according to the release order approved by a judge Friday.
Strauss-Kahn is expected to head to a Lower Manhattan apartment for his home confinement later.
For at least the next few days, the French politician will stay in housing used by the private security firm that will be guarding him when he is released.
He will be allowed to leave only for specific reasons, accompanied by security personnel, and must give prosecutors six-hours notice before doing so.
NBC New York first reported that Anne Sinclair had rented an apartment at the luxurious Bristol Plaza on East 65th Street. But that fell through for use as a place for her husband to stay, a source said.
The bail bondsman said $1 million cash had been paid and the bond was approved.
The former head of the International Monetary Fund is accused of sexually assaulting a Manhattan hotel maid; his lawyers deny the charges.
A judge on Thursday granted a request by Strauss-Kahn's lawyers to release him on bail. He has agreed to wear an electronic monitoring device and live under video surveillance with an armed guard present.
Judge Michael Obus told Strauss-Kahn: "I expect you will be here when we need you. If there is the slightest problem, we can withdraw conditions."
The defense is also asking the court to allow him to attend weekly religious services.
Prosecutors had argued that Strauss-Kahn was a flight risk and that the evidence against him is "substantial."
The grand jury indicted Strauss-Kahn on seven counts, including attempted rape, criminal sex act, sex abuse, forcible touching and unlawful imprisonment.
Defense lawyers sought the second bail hearing three days after another judge denied bail and sent Strauss-Kahn to Rikers Island, where he has been on suicide watch.
Strauss-Kahn is a member of France's Socialist party and was widely considered the strongest potential challenger to President Nicolas Sarkozy next year.