Affordable Housing Lottery Debuts for Nine Units in Bed Stuy, Starting at $2,000 a Month

Photo via NYC Housing Connect

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An affordable housing lottery has opened for nine newly constructed units in a six-story building at 348 Nostrand Avenue, at the corner of Lexington Avenue, in Bed Stuy.

Of the affordable apartments, there are five one-bedroom units and four two-bedroom units. Monthly rents start at $2,000 and top out at $2,475.

The lottery is set at an area median income range of 130 percent for all of the units. Eligible incomes range between $68,572 and $149,890 for households of one to five people.

There are 15 apartments total, according to building permits. Medical offices will be located on the ground floor, along with a residential lobby. In the cellar will be 28 parking spaces. The lottery listing says there will be a green roof, as well as bicycle storage and car parking.

The site was formerly an empty lot.

The site in 2012. Photo by Christopher Bride for PropertyShark

Saverio Tarantino of TarLan Design Build is the applicant of record. The developer is Lynn Kornblum, who acquired the property in a tax lien auction for $43,500 in August 2001, public records show.

Market-rate rentals have yet to hit the market.

Applications for the affordable housing lottery must be submitted by November 19, 2019. Apply through NYC Housing Connect. To learn more about how to apply for affordable housing, read Brownstoner’s guide.

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