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Several recent studies have confirmed that Queens is home to the most sought after neighborhoods in New York right now, which means that it probably won't be too long until the cost of living in the borough will hit Brooklyn price levels.
If you want to get ahead of the competition, a new affordable housing lottery just opened in the heart of Long Island City, which continues to be one of the fastest growing areas in the borough. Here's what you need to know about the building, if you qualify and how to apply.
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Where is it?
The new development is located at 25-01 Queens Plaza North, just outside the subway station that services the 7, N and W trains.
What units are available?
A total of three studio apartments, 107 one-bedroom apartments and 16 two-bedroom apartments available.
How much do they cost?
The monthly fees are around $3,416 for a studio, and you have to make anywhere between $117,120 and $141,310 as a one-person household to qualify. One bedrooms come in at $3,653 per month, and a single person household has to earn between $125,246 and $141,310 to qualify. Two bedroom apartments are $4,366, and you have to earn between $149,692 and $161,590 to qualify. Keep in mind that all financial qualifications vary based on how many people belong to your household.
What else do we know about this building?
Amenities are becoming increasingly important for New Yorkers and this building has no shortage of features sure to make your life easier, including a recreational room, a media room, a game room, a party room, a swimming pool, a fitness center, a business center, an outdoor terrace, rooftop access, storage units, bike storage and a dog park. Two pets per unit are allowed, with some breed restrictions.
What’s nearby?
If you manage to get an apartment here, you will be in the heart of Long Island City, just a short walk from MoMA PS1 and the SculptureCenter.
Downtown LIC is also ideal for families: Tacombi and Xi'An Famous Foods, go-tos with children, are in the area. If you're craving an even more complete culinary experience, the 7 train is right there, which will whizz you straight into Jackson Heights or Flushing.
How do I apply and by what date?
First, you have to create an account on NYC Housing Connect, the main portal for the city’s affordable housing lotteries. You can find this listing here. You have until April 11 to apply.