Housing Lottery Closes for Brand New Luxury Residences in Long Island City NY

Long Island City NY Luxury Residences Coming Soon The housing lottery for 34 affordable luxury residences in Long Island City came to an end yesterday. Applications were to be submitted between May 16 and June 14, 2017, in order to be considered for one of the below market rate rentals.

According to the Department of Housing, Preservation and Development, the available units include 14 studio apartments starting at $908 per month, 15 one-bedroom apartments for $974 per month, and 5 two-bedroom apartments are being offered at $1176 per month. Income restrictions for qualifying applicants can be obtained from the NY Housing District. Members of Queens Community Board 2 will be given preference for fifty percent of the units. Queens Community Board 2 covers the neighborhoods of Long Island City, Sunnyside and Woodside.

Watermark LIC is a new 27-story apartment building with a total of 168 luxury rentals in Long Island City. The complex, formerly known as Watermark Court Square, is located at 27-19 44th Drive, and is scheduled to open in July 2017. Available amenities at Watermark LIC include Wi-Fi in common areas, roof-top terrace, sky lounge, a garden cafe and a fitness center, according to the listing on streeteasy.com. Residents will be able to get to local shopping, dining and cultural spots by way of Vernon and Jackson Avenue. In addition to the residential units, the mixed-use building will have approximately 2,500 square feet of retail space on the ground floor.

Back in May 2016, in a NY Yimby article, the Long Island City Post quoted the market rate prices for the LIC no fee luxury apartments to be around $2100 per month for a 400 square foot studio, $2500 for a 1-bedroom, 1-bathroom apartment that varies from 600-820 square feet of living space, and a 950-1100 square foot 2-bedroom, 2-bath apartment for $3300 per month.

If you missed you out on the housing lottery for this complex, you can check the NYC Housing Connect website for a list of the current open lotteries.