QUEENS, NY — A sleek new Astoria “affordable” apartment complex just hit the city’s housing lottery this month, but families need upwards of $99,000 yearly income to qualify for most units.
The 75 apartments are part of Astoria Cove Phase 1(A), a pair of 26-story and seven-story residential buildings at 4-34 and 4-42 26th Ave. in Astoria with East River views.
All 75 units are live on the city’s housing lottery—but only for applicants earning eighty to one hundred thirty percent of area median income (AMI), with eligibilities from $77,829 (single person) to $227,500 (family of five).
Rent for the one-bedrooms is $2,650 per month, compared to $3,332 for the two-bedrooms.
The apartments are split by applicants’ area median income (AMI) levels—for example, at eighty percent AMI, there are 12 studios at $2,126 monthly rent for incomes from $77,829 to $103,680, 15 one-bedrooms at $2,266 for $83,315 to $116,640, and 18 two-bedrooms at $2,696 for $99,978 to $140,000.
On the high end at one hundred thirty percent AMI, three studios rent for $3,384 with incomes from $120,960 to $168,480, 13 one-bedrooms go for $3,518 on $126,240 to $189,540, and five two-bedrooms cost $3,600 for $130,972 to $227,500.
People can apply online via the Housing Connect website or by mail with a self-addressed stamped envelope to: Astoria Cove Phase 1(A) Apartments, c/o Reside Affordable, 349 Keap St., Brooklyn, NY 11211.
According to officials, roughly twenty percent of the units will be given preference to Queens CB 1 residents.
The building is under construction through the Inclusionary Housing Program and expected to receive a 421a tax exemption from the NYC Department of Housing Preservation and Development.
The deadline to apply is June 2.
Located near the 60-acre Astoria Park, the buildings include a recreational room, game room, gym, spa, yoga/dance studio, business center, rooftop and outdoor terrace, bike storage and covered parking.