Gotham Honored for Monitor Point, 1,324 Homes on Greenpoint Waterfront

Key facts

Address

40 and 56 Quay Street, Greenpoint, Brooklyn

Total homes

1,324 in two waterfront buildings

Affordable homes

662, including deeply affordable and senior housing

Homeless set-aside

110 homes for people who experienced homelessness

West Building

About 958 mixed-income homes, roughly 30% affordable

East Building

366 homes, 100% affordable

Partners

Gotham Organization, Metropolitan Transportation Authority, Greenpoint Monitor Museum

Award event

NYC Housing Partnership Leadership & Legacy Reception Benefit, Manhattan, Thursday, October 22

What it means

The highlights

1. 662 units will be affordable, with 110 reserved for formerly homeless New Yorkers.
2. The East Building's 366 homes are 100% affordable; the West's roughly 958 are about 30%.
3. HPD Commissioner Dina Levy will speak at the Oct. 22 Housing Partnership benefit.

Why it matters

Monitor Point adds 662 affordable homes in Greenpoint, including 110 set aside for people who experienced homelessness.

Not known yet

• Construction status and expected move-in dates for each building
• Rents and income limits for the affordable units
• When and how the housing lottery will open
• How the 110 homeless set-aside units will be referred and whether vouchers are accepted

Background

In New York City, affordable units in new developments are usually rented through the city's Housing Connect lottery, where applicants must fall within set income bands tied to the area median income and household size. Units set aside for formerly homeless households are typically filled through referrals from city agencies rather than the open lottery. Marketing generally begins as buildings near completion, and applicants are screened for income, household size and other eligibility rules before signing a lease.