Known as Astoria Cove, this newly constructed 28-unit rental at 26-27 2nd Street is just a block away from the under-construction Halletts Point mega-development. The seven-building project will bring 2,400 housing units to the Astoria neighborhood, as well as a stop for the East River Ferry, a supermarket, school, and waterfront park. Six households earning 60 percent of the median income have a chance to live near all the upcoming action through the city’s affordable housing lottery that’s offering $889/month one-bedrooms and $1,001/month two-bedrooms.

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Scoring a rent-stabilized apartment is a big win in New York City, as these regulated pads usually offer rent at below-market rates and provide tenants more protections against landlords. While more than 925,000 rent-stabilized apartments still exist in the city, these units turn over at a faster rate in certain neighborhoods than others, and their availability continues to dwindle (h/t WYNC). According to a new report by the city’s Independent Budget Office (IBO), the neighborhoods of Astoria, Morningside Heights and Bay Ridge all have high concentrations of rent-regulated housing built prior to 1974 and therefore, higher rates of turnover compared to other parts of the city.

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Image courtesy of STUDIO V Architecture

A 2.2 million-square-foot mixed-use development site known as Astoria Cove, on nearly nine acres along the East River in Astoria, is seeking a buyer, asking $350 million, Crain’s reports. The site hit the market in mid-March in anticipation of the reinstatement of the 421-a affordable housing tax credit program that had languished since its expiration over a year ago amid debates between the Real Estate Board of New York (REBNY) and unions on whether to require higher wages in certain cases. Alma Realty Corp. hired Cushman & Wakefield investment company to market the site; according to sales executive Bob Knakal, “We wouldn’t have hit the market with Astoria Cove in the past 16 months because of the uncertainty around 421-a, but there’s been a sense of optimism in recent weeks that 421-a will be back and with it, the land market will strengthen.”

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Roommate app Roomi recently compiled data based on the 20 to 36-year-olds searching for someone with whom to split the rent, and the top neighborhood for this trend is Astoria. DNAinfo shared the analysis, which found that nearly 38 percent of Roomi’s users looked for housing in the up-and-coming Queens ‘hood, and each applicant in this area gets about 20 applicants, almost double all other neighborhoods.

What other ‘hoods top the list?

Starting today, qualified New Yorkers can apply for six affordable apartments at 28-22 Astoria Boulevard, a new mixed-use building just two blocks away from the Astoria Boulevard N, Q station and three blocks from the popular Bohemian Hall and Beer Garden. The seven-story, red-brick corner rental has 25 apartments with retail on the ground floor. The affordable units, reserved for those earning between 60 and 80 percent of the AMI, are three $1,158/month studios and three $1,330/month one-bedrooms, quite the deal considering market-rate units in the building are renting for around $3,000/month for one-bedrooms and $4,300/month for two-bedrooms.

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Welling Court is a tiny enclave in Astoria, tucked between 30th Avenue and Vernon Boulevard, near the base of Astoria Park. It’s best known for the funky street art that adorns its building’s walls. Organized by the Welling Court Mural Project, there are now more than 140 murals from international artists, and each June the group puts on a huge block party to celebrate that year’s art.

If this arsty community appeals to you, a new rental building has recently gone up in Welling Court, and it comes with six low-income apartments that are now up for grabs through the city’s housing lottery. 11-07 Welling Court is a six-story, 27-unit building from Architects Studio and developer Halil Todic. The affordable residences, created through the city’s 421-a program, are $947 a month for individuals earning between $32,469 and $38,100 annually or two-person households earning between $32,469 and $43,500.

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The affordable housing lottery has commenced for 83 brand new apartments at the Steinway Estates in Astoria, per the NYC HPD. Units will range from $895/month studios to $2,586/month three-bedrooms, with annual income requirements varying from $32,023 for a single-person household to $130,260 for a six-person household.

The development at 19-80 Steinway Street is on the edge of the Steinway IBZ (Industrial Business Zone) and was originally known as the Vesta or Vesta Q when it first surfaced as a mixed-use project back in 2008. Exact details on the building aren’t clear, but renderings from Garrett Gourlay Architect show a four-story, corner-lot structure with landscaped outdoor areas and contemporary apartments.

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Future Astoria renters, meet The “L” @ 31st Drive. Located on a sedate block at 23-36 31st Drive, the “L” is a brand-new 22-unit building with rentals ranging from $2,000/month studios to $3,200/month two-bedrooms. The design hewn by Gerald Caliendo Architects features a modern concrete and glass exterior rising five stories in height. Complementing its streamlined exterior, interiors boast floor-to-ceiling windows, light hardwood floors, clean white walls, and stainless steel appliances.

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