Affordable living with a long waiting list
View from rooftop garden
The first handful of residents have officially moved into Hunter’s Point Crossing, a two-tower affordable housing complex sitting on the East River waterfront in Long Island City. The complex boasts impressive views of Manhattan, overlooks a state park and has zero market-rate units.
Both towers are LEED certified and consist of a total of 925 units. Of those 925, 20 percent are affordable as calculated by the area median income, while the rest are priced below market and rent stabilized.
Frank Monterisi, vice president with Related Companies
Frank Monterisi, vice president with Related Companies, the project’s developer, said confidently while leading a tour of the building last week, “this is really the best apartment deal in New York City.”
Apartments include studios as low as $494 per month, one-bedroom apartments for $533 per month (for single-person households making approximately $20,000 per year) all the way to multi-bedroom units as high as nearly $4,400, depending on income.
According to Monterisi, the units had the largest response to a housing lottery in the history of the New York City Housing Authority. A total of 93,000 people applied to live in one of the towers.
