Housing lottery launches for 45 rent-stabilized units in Park Slope

Housing lottery applications are open for 45 rent-stabilized apartments at a new development in Park Slope, Brooklyn. Households that earn $25,166 to $175,000 are eligible to apply, depending on the number of people you live with. Rents start at $654 a month for a studio.The pet-friendly building at 126-128 Fifth Ave. has a gym, community center, recreation room, terrace, and playroom. It’s located north of the Union Street subway station, serving the D, N, R, and W lines.Developed by William Macklowe Company and Senlac Ridge Partners, the 180-unit development replaced a former Key Foods on Fifth Avenue. An even larger Lidl grocery store—Brooklyn’s first—opened at the base of the development last year. The apartments are set aside for New Yorkers earning from 40 to 100 percent of the area median income (AMI)—a metric that depends on how many people you live with. Currently the AMI for New York City is $129,600 for a two-person household. The apartments available include studios as well as one- and two-bedroom apartments. There are nine one-bedroom apartments available for households earning from $31,440 to $58,320 per year. The rent for these units is $827 each month. Caption An interior view of one of the units at the Park Slope building, which sits at the corner of Baltic Street and Fifth Avenue.  Credit NYC Housing Connect Caption NYC Housing Connect Credit A kitchen at the housing lottery building at 126-128 Fifth Ave.  The developers have set aside 20 percent of the rent-stabilized apartments for applicants who already live in the area. Future lotteries will use a lower ratio as a result of a lawsuit settlement, which claimed the practice of community preference perpetuates segregation and violates the Fair Housing Act. Check out: "NYC agrees to cut percentage of housing lottery units set aside for nearby residents."Another 5 percent of units will be preferentially given to NYC employees. Applications must be submitted online or postmarked no later than Aug. 25th. Caption The apartments have in-unit washers and dryers, according to NYC Housing Connect. Credit NYC Housing Connect If you’re interested and think you might qualify for one of these apartments, you can create a profile and apply online via NYC Housing Connect. For details on this particular lottery, click here. Don’t apply more than once, or you could be disqualified.Winning a rent-stabilized apartment can be life changing: Rent increases are capped and lease renewals are automatic, providing long-term stability for NYC renters. Need more information on how the housing lottery works? Check out “6 steps for applying to NYC's affordable housing lottery.”For some advice from successful applicants read “How to land a rental apartment through NYC's affordable housing lottery.” And if you or someone you know is having trouble with the application process, consider reaching out to a housing ambassador in the community.Note: Brick Underground is in no way affiliated with New York City’s Department of Housing Preservation and Development or the Housing Development Corporation. If you are interested in applying to these or other affordable housing developments, please go to NYC Housing Connect for information and instructions.Have you successfully won an apartment through the affordable housing lottery? If you have first-person advice to share about the process, we’d love to hear from you. Please send us an email. We respect all requests for anonymity.You Might Also Like