463 affordable units available at luxury LIC rental with sweeping city views and a waterfront park

August 1, 2022

All renderings courtesy of VUW Studio

At a time when finding an affordable apartment in New York City feels impossible, here’s an opportunity to live in a luxury Long Island City building for less. A housing lottery has launched at Gotham Point, a two-tower mixed-use development in Hunter’s Point South with 1,132 apartments, a majority of which are priced below the market rate. After welcoming its first residents to the South tower this spring, the taller North tower is now accepting applications for 463 rent-stabilized rentals at 1-15 57th Avenue, Long Island City, NY. The 58-story building is open to New Yorkers earning between 30 percent and 165 percent of the area median income (AMI), or between $16,183 and $273,075 annually.*

Developed by the Gotham Organization and RiseBoro Community Partnership, Gotham Point’s two towers were designed by Handel Architects. The North tower contains 689 total units, a separate 11-story wing with nearly 100 affordable apartments designated for seniors and ground-floor retail.

Ranging from studio to three-bedroom homes, residences boast high-end finishes, open layouts, luxury plank flooring, Silestone quartz countertops, premium stainless steel appliances, and panoramic city and river views.

Prices for the affordable apartments based on AMI levels (30% to 165% AMI) range from:

  • $397/month studios to $683/month three-bedrooms for 30% AMI
  • $738/month studios to $1,274/month three-bedrooms for 50% AMI
  • $1,250/month studios to $2,161/month three-bedrooms for 80% AMI
  • $1,643/month studios to $2,841/month three-bedrooms for 125% AMI
  • $2,070/month studios to $3,580/month three-bedrooms for 165% AMI

A single person who earns an annual income between $27,875 and $154,110** may qualify for Gotham Point’s rent-stabilized apartments.

There are more than 50,000 square feet of amenities that are shared by tenants of both towers. Residents can enjoy a 34th-floor rooftop terrace, sun decks, a residents’ lounge, an indoor/outdoor fitness club with a yoga studio, co-working lounges, a playroom for children, a dog spa, a 24-hour attended lobby, and personal concierge services.

The North Tower will include small-format retail spaces designed to meet the needs of the community in Long Island City and a below-grade public parking garage.

Like all Gotham Properties luxury rentals, Gotham Point offers its residents a lifestyle centered around community by hosting events like cocktail parties and cooking classes and planning excursions like apple picking and ski trips. Another unique bonus of living at a Gotham property is the “GothamCard” benefits program, which gives residents special access to programming and discounts to local businesses and cultural institutions around New York. Long Island City favorites participating in the program so far include MoMA PS1, Black Star Bakery, Zing Fitness, Fado, and Floresta.

The development sits next to Hunter’s Point South Park, a waterfront greenspace with amenities and incredible skyline views. Later this year, a free shuttle service will launch from the building to nearby public transit options, including the 7 train at Vernon Boulevard-Jackson Avenue and the Long Island Rail Road Station on Borden Avenue. Gotham Point is also located near the NYC Ferry, which conveniently stops along the East River at East 34th Street, Williamsburg, Dumbo, and Wall Street.

Find more details about the rent-stabilized units available at Gotham Point by clicking here. Apply by September 28, 2022.

*Salary requirements vary by household size and are greater for larger households.

**Based on a household of one. Salary requirements vary by household size and are greater for larger households.

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