Affordable Housing Lottery Opens for Six Units in Bed Stuy, Starting at $2,245 a Month

The site in November 2020. Photo via Google Maps

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An affordable housing lottery has opened for six units in a four-story building at 770-774 Lexington Avenue, between Patchen Avenue and Malcolm X Boulevard in Bed Stuy.

Of the income-restricted apartments, there are two one-bedroom units and four two-bedroom units. Monthly rents start at $2,245 and top out at $2,710.

The lottery is set at an Area Median Income of 130 percent. Eligible incomes range between $76,972 and $159,640 for households of one to five people.

Property records show that there are a total of 20 units in the building. Four of those units are duplexes, though it is unclear if any of the affordable units include those apartments. Use of the cellar will be available to those who occupy apartments on the first floor of the building.

Formerly, the site was home to a one-story garage, which was demolished many years ago, leaving an empty lot. The building stands across the street from the headquarters of St. John’s Bread & Life, a nonprofit that aims to alleviate hunger and poverty in Brooklyn and Queens. Next door is the Kingsboro Addiction Treatment Center.

The site in 2012. Photo by Nicholas Strini for Propertyshark

The architect on the project is Jeffrey Sandor Orling, who has worked on a number of similarly sized residential projects in Flatbush, East Flatbush and South Slope. Shia Mandel is listed as the owner on building permits, but the address on the same permits share an address with Bruman Realty, whose cofounder is Abe Mandel.

Rendering by Input Creative Studio via NYC Housing Connect

Leasing for market-rate units began in December 2020. Based on the listing photos, the units have open kitchens, hardwood floors and large windows in the living rooms and bedrooms.

Notably, current market rate listings show available two-bedroom units asking $2,261 a month and three-bedroom units asking $2,705 a month, which is actually $449 and $5 less than the income-restricted two-bedroom units, respectively.

Photo via NYC Housing Connect

Photo via NYC Housing Connect

Photo via NYC Housing Connect

Income-restricted units pegged at 130 percent Area Median Income are not unusual in New York, especially since the most recent version of the New York State tax break known as 421-a tax passed in 2017. Rents on the so-called “affordable” units tend to equal or even exceed market-rate rents.

Applications for the affordable housing lottery must be submitted by March 31, 2021. Apply through NYC Housing Connect.

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