40-05 Crescent St. (NYC ZoLa)
Nov. 8, 2018 By Nathaly Pesantez
A new “affordable” housing lottery has opened for a Long Island City development, where 10 units are available starting at more than $2,000 in monthly rent.
The units are being offered at 40-05 Crescent St., an upcoming five-story building known as the “Crescent Iron House,” and housing 32 apartments.
Most of the units up for grabs are one-bedrooms, with a small portion going to studios and two-bedrooms.
Two studios are available at $2,125 a month, and require an income between $72,858 and $95,030 for a single person. The income range goes up to $108,550 for a household size of two.
The six one-bedroom units are priced at $2,277 a month, and are available for household sizes of up to three people. The minimum income to qualify begins at $78,069 and goes up to $122,070.
The remaining two-bedroom units go for $2,741 for household sizes between two and five people. An annual household income starting at $93,978 is required to qualify.
The upcoming building includes 48 underground parking spaces, a bike room, gym, rec room and laundry room.
The applications are open to all, with a general preference for those who live in New York City and no special preference for local residents within the community board confines.
Some preference, however, is given to mobility-disabled applicants and those with vision or hearing disabilities.
To apply, visit Housing Connect online. Applications can also be sent by mail by following the instructions on the housing application flyer.
Applications must be postmarked or submitted online no later than Dec. 3, 2018.
The developer is expected to receive a tax exemption as part of the city’s 421-a program, where the city gives a tax break to builders in exchange for providing some below market-rate rental units in the development.
Construction on the site should be wrapping up by year’s end, according to City Realty.
