With a superb location just a few blocks to Prospect Park and the Brooklyn Museum, and excellent rental rates, the scramble is on for this affordable housing lottery in a prime Crown Heights location.
Geared for lower-income individuals with an area median income of 60 percent, this lottery at The Frederick Olmstead building at 564 St. John’s Place will offer 40 apartments in the newly constructed development.
Up for grabs for eligible applicants are 30 1-bedroom units for $1,080 a month and 10 2-bedrooms for $1,223 a month. Income levels range from $37,029 to $62,580.
Current market-rate rentals for 1-bedrooms are going for $2,950 to $3,544 and 2-bedroom market rates range from $3,653 to $4,594, so you can see the savings for lottery deals is incredible. See details below:
Amenities include: Part-time attended lobby, rooftop terrace, playroom, and pet room. For extra charges, tenants can also access a parking garage, storage units, bike storage, business lounge, library, private party room, private garden, fitness center, yoga room and locker rooms.
To apply online, go to NYC Housing Connect. To request an application by mail, send a self-addressed envelope to: MGNY Consulting, c/o The Frederick Olmstead, 18 Bridge St, Suite 2D, Brooklyn, NY 11201.
Deadline to apply is July 24, 2018.
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