Former New York state governor Eliot Spitzer is back in the news again, but this time, it has nothing to do with politics. This headline is all about his development at 416 Kent Avenue (also referred to as 420 Kent Ave.) along the East River in Williamsburg where 65 apartments will be made available in an affordable housing lottery.
It is one of Williamsburg’s most anticipated and largest waterfront developments and features three Jenga-like buildings, each 22 stories tall. The lottery will be aimed at a variety of income levels, including those who earn at 40 percent, 60 percent and 130 percent of the area median income.
For lower-income applicants, 52 apartments are reserved for those with income ranges from $21,257 for a single person up to $62,580 for a 4-person household.
An additional 13 units are slated for middle-income earners with annual salaries of $74,435 for a single person up to $135,590 for a 4-person household.
Rental rates will range from $565 to $1,123 a month for lower-income applicants. Rents for middle-income earners range from $2,116 to $2,733.
To apply online, go to NYC Housing Connect. To request an application by mail, send a self-addressed envelope to: 260 Powers Street, C/O 416 Kent Ave., Brooklyn NY 11211.
Applications must be postmarked or submitted online no later than Aug. 13, 2018.
ODA New York Designed the Complex
The 420 Kent complex is made up of three multi-dimensional glass towers designed by ODA New York. It contains 857 residential apartments, 20,000 square feet of retail space, over 25,000 square feet of indoor amenities, and 80,000 square feet of outdoor space, including a 400-foot-long waterfront esplanade. What is eye-catching about the complex is the Jenga-like shape to the buildings in which cantilevered designs give units private terraces as well as wide-ranging views of the river and Manhattan.
Spitzer took over the family real estate business, Spitzer Enterprises, in 2014 upon the death of his father. It was around this time that he invested in the Williamsburg waterfront and developed 420 Kent with his brother and sister.
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