Affordable Housing Lottery Opens for 89 Units in Bed Stuy, Starting at $524 a Month
Of the affordable apartments, there are 14 studios, 41 one-bedroom units, 22 two-bedroom units and 12 three-bedroom units.
Photo via NYC Housing Connect
An affordable housing lottery has opened for 89 units in a 6-story building at 645 Gates Avenue, between Throop Avenue and Marcus Garvey Boulevard in Bed Stuy. The building is called The Astra.
Of the affordable apartments, there are 14 studios, 41 one-bedroom units, 22 two-bedroom units and 12 three-bedroom units. Monthly rents start at $524 and top out at $2,638.
The lottery is set at an area median income range of40 percent for nine of the units, 50 percent for another nine units, 100 percent for 27 units and 130 percent for the remaining 44 units. Eligible incomes range between $20,160 and $183,300 for households of one to seven people.
There are a total of 96 units in the building, which includes an apartment for the building’s janitor on the first floor. A daycare center, medical office, laundry and a meeting room for residents will be on the same floor, with the residential apartments on the floors above. Although the listing says there is a rooftop terrace, that is not reflected in building permits.
Formerly, the property was a parking lot.
Demetrios and Astra Moragianis are the developers, hence the name of the building. They purchased the property in 2019 for $8.9 million, according to finance records.
Manhattan-based Peter Franzese is listed as the applicant of record.
Applications for the affordable housing lottery must be submitted by April 12, 2021. Apply through NYC Housing Connect.
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