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Score a $500-a-Month Waterfront Studio in Greenpoint

By Gwynne Hogan | December 4, 2015 1:30pm
 92 affordable unit are opening up on Commercial Street with rents between $494 and $1,025.
92 affordable unit are opening up on Commercial Street with rents between $494 and $1,025.
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Courtesy of 21 Commercial Street

GREENPOINT — Ninety-two affordable units with rents as low as $500 a month are opening up in a new development with by the waterfront — the first to come up for raffle as part of a sprawling development that will be built over the next 10 years.

Applications for this first batch of apartments at 21 Commercial St. went live on Thursday and are due by Feb. 3. The apartments could be ready by sometime next year, according to the developer.

Units will range in monthly rent from $494 to $1,025 for renters who earn between $18,309 and $51,780.

Twenty-three studios will go for two different price ranges — $494 a month for renters who earn up to $24,200 a year and $477 for those making up to $36,000.

There are also 23 one-bedrooms available at two price ranges: $532 for tenants who earn up to $27,640 or $847 for couples who earn up to $41,460.

Lastly, 46 two-bedrooms will be available for those making between $23,623 for two people and $51,780 for a family of four. Those units will rent at two monthly rates — $647 and $1,025.

The building has a live-in super and the laundry room, courtyard and fitness room are all available to rent-regulated tenants at no additional cost.

New Yorkers who already live in Community Board 1 will get priority on half of the units.

21 Commercial St. is the first building in a large complex where the developers Greenpoint Landing Associates have promised to build 1,400 affordable units over the next ten years.

The market rate towers have not yet been designed as of June, according to the developer.

Greenpoint Landing Associates plans to frontload the construction of 300 affordable units that will open up in the next two years. 

The buildings will have commercial spaces on the ground floor and there's land set aside for the construction of a new school.

For more information on how to apply to live at 21 Commercial St. click here, or learn about more affordable options on the city's Housing Connect site.