We’ve come to accept that many middle-income “affordable” housing lotteries are nothing more than a way for a building to cross-subsidize its “deeply affordable” units. Case in point, this new lottery that just launched at 216 Freeman Street in Greenpoint. Reserved for households earning 130 percent of the median income, one-bedrooms are $2,544/month and two-bedrooms $3,050. And while a market-rate one-bedroom is currently listed for the higher price $2,975, a two-bedroom is listed for the exact same price as the lottery unit.
216 Freeman Street
Since the Pulaski Bridge’s two-way protected bikeway officially opened on Friday, real estate values in Greenpoint are likely to see an increase. And at the foot of the bridge’s Brooklyn side, a pair of well-positioned buildings are underway, ready to take advantage of the new and improved connection to Long Island City and its G-train free access to Manhattan. The duo uniquely spans three narrow lots along the western side of McGuinness Boulevard between Green and Eagle Streets, near where the bridge begins its rise above street level.