Case study · 130% AMI · G&M Realty · 2020–2021
The project
5Pointz is a two-tower high-rise development on Jackson Avenue in Long Island City, with 1,122 total apartments and striking views of the Manhattan skyline. The towers include a full-sized basketball court, a robust fitness facility, and a garden terrace spanning the length of the property. Of the 1,122 units, 337 were designated affordable — the largest 130% AMI affordable housing lottery in New York City history at the time of launch.
The developer, G&M Realty, is led by David Wolkoff. The project reuses the “5 Pointz” name originally associated with the graffiti mecca that occupied the site prior to redevelopment.
The challenge
Scale. The 5Pointz lottery attracted more than 22,300 applications on Housing Connect, at a time when 130% AMI lotteries were less well-understood by applicants than lower-AMI projects. The fundamental challenge was operational: bringing a personal, meticulous applicant experience to every qualified household in a project this size. A 130% AMI targeting requires reaching households that may not have considered affordable housing before — which means extensive education, and which means lead nurturing across a long lease-up.
The execution
Marketing design emphasized reach: the campaign generated more than 5 million Facebook and Google impressions, calibrated to reach eligible 130% AMI households city-wide. The website and digital ad messaging were built to convey both eligibility criteria and the value proposition of the building.
Applicant nurturing ran through multiple points of contact — phone, text, and email. In-person tours were structured around the building’s best features. Project managers and the communications team carried applicants through application, document review, and lease-up as individual workstreams rather than a batch process. Several applicants left positive reviews of the experience.
The outcomes
- 22,330 applications received via Housing Connect.
- 9,585 applications processed.
- 337 affordable apartments filled — 100% of the set-aside.
- 122 lead-to-lease conversions; 36% conversion rate — strong for a 130% AMI project at this scale.
- Project completed on schedule with no lingering vacancy in the affordable component.
What this project established
5Pointz set the template for 130% AMI lease-up at institutional scale. The combination of high-volume digital acquisition with one-on-one applicant handling — rather than a purely automated workflow — produced conversion rates that would become the benchmark for subsequent Long Island City 130% AMI lotteries. The playbook has been reused, in evolved form, on Jasper, Lumen, and later Williamsburg Wharf.
