10 Halletts Point (Rendering: Durst Organization)
Feb. 16, 2019 By Jon Cronin
The first of seven buildings that will make up the massive Halletts Point development is complete and apartments are now available for rent.
The first building, known as 10 Halletts Point, consists of two towers and 404 units, with studios starting at $1,895, one-bedrooms at $2,525 and two-bedrooms at $3,595.
The building is part of a $1.5 billion, 2,020-unit development planned for the Hallets Point peninsula, an isolated area that is more than a mile from the nearest subway station at 31st Street and Astoria Boulevard. The development’s big draw, however, is the sweeping views of the East River and Manhattan.
The Durst Organization, the developer, has set aside 81 units in 10 Halletts Point for affordable housing. The lottery for these units– reserved for households earning 60 percent of the median income or less– was held last spring. It is unclear if the winners have been notified.
Durst will set aside about 25 percent of the units in the entire project for affordable housing, which stems from a deal reached with the city council when the seven-acre development site was rezoned.
Durst broke ground on 10 Halletts Point in January 2016 and qualified for the 421a program, a program that provides substantial tax breaks to developers that provide affordable housing.
The 421a program expired the day after the groundbreaking and was not reinstated until April 2017.
Halletts Point Rendering (Source: Durst Organization)
Durst didn’t proceed with the other buildings while the 421a program had lapsed, arguing that it was no longer financially feasible to continue. When the program was reinstated, the company then faced problems getting bond financing.
The timeline as to when the remaining buildings will be completed is uncertain.
The first building, however, is ready and offers amenities typical of luxury developments.
The building—with one tower at 17 stories and the other at 22– offers a fitness center, a children’s playroom, an attended garage as well as two large common terraces with areas for lounging and barbecuing.
At the base of the building will be a 25,000 square-foot grocery store, Brooklyn Harvest Market, which is expected to open in May. The supermarket will be the first to open in the area for years.
While the building is in an isolated area, Durst will be providing a shuttle service to the subway. Additionally, the development is a five-minute walk away from the Astoria ferry stop that opened in 2017.
Hallets Point (Google)
