Monterey Apartments

4278 3rd Ave, New York City, NY 10457

Waiting List Forecast: Likely Short or None

check_circleVerified for 2021 by Lorena Bentley, Joshua Cappell

Rent	Beds	Baths	SqFt
Call for Rents^†	Floorplan Info Upon Request	-	-

Call (212) 243-9090

Waitlist Forecast

Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.

Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.

97 units

Housing
Phipps Houses builds affordable housing for low-income and moderate-income families. We rent our apartments to income-eligible families using specific government procedures.

When a new set of apartments is available, we will post an advertisement at this site. We are required by law to rent our apartments through a government lottery system.

Over time, when an apartment vacancy arises, it is filled by a family on that particular building’s waiting list. Each of our buildings maintains its own waiting list.

To find out if any building waiting list is open for new names, or if a lottery is open, please call 646-388-8230 or CLICK HERE to view a list of available applications.

For all available affordable housing in the five boroughs of New York City, call the Department of Housing Preservation and Development’s Housing Hotline at 212-863-5610.

For emergency housing, call the New York City Information Hotline at 311 to find the nearest emergency housing location.

managed by Phipps Houses

Dave's Thoughts On Monterey Apartments

Because Monterey Apartments participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.

~ Dave Layfield, Founder of Affordable Housing Online

Income Qualification for Monterey Apartments

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

AMI*	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
50% AMI for LIHTC Units	$49,450 / year	$56,500 / year	$63,550 / year	$70,600 / year	$76,250 / year	$81,900 / year	$87,550 / year	$93,200 / year
50% AMI for PBRA Units	$49,450 / year	$56,500 / year	$63,550 / year	$70,600 / year	$76,250 / year	$81,900 / year	$87,550 / year	$93,200 / year
60% AMI for LIHTC Units	$59,340 / year	$67,800 / year	$76,260 / year	$84,720 / year	$91,500 / year	$98,280 / year	$105,060 / year	$111,840 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Monterey Apartments

Does Monterey Apartments have a waiting list?

Monterey Apartments probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at Monterey Apartments?

We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.

In addition to Monterey Apartments, how many other affordable housing properties (and units) are there in New York City?

In addition to Monterey Apartments, we list 2637 other affordable properties in New York City. Learn about these properties here. Our data research shows that there are a total of 402423 affordable units in New York City.