Affordable Housing Lottery Launches for $844 Units at Atlantic Avenue Tower

An affordable housing lottery debuted for a new tower along Brooklyn’s arterial Atlantic Avenue. Construction for the development, dubbed Prosper Brooklyn, was underway before the recently-passed Atlantic Avenue rezoning. The rezoning is meant to spur similar high-rise housing development along the largely industrial stretch.

Included in the lottery for Prosper Brooklyn, located at 1042 Atlantic Avenue in Crown Heights, are 65 studio, one-, and two-bedroom units, all rent stabilized and subject to income limits. The majority are truly affordable units, with 52 apartments set aside for households of one to five people earning 40 and 60 percent of Area Median Income, or $34,492 to $77,760 a year, according to the listing.

In those brackets, there are 13 studios renting at $844 and $1,483 a month, 28 one-bedrooms for $869, and 11 two-bedroom units for $976.

The remaining 13 units in the lottery are for households earning 130 percent AMI, or $87,840 to $227,500 a year. There is one studio for $2,400 a month, nine one-bedroom apartments for $2,790, and three two-bedroom units at $3,250.

The new build sits between Grand and Classon avenues, with a shorter rear facade facing Pacific Street. Along Atlantic Avenue, renderings show a modern design with curved edges, gridded windows, and planted rooftops on setbacks at the sixth and eleventh floors.

There are upscale amenities, including a movie theater, pilates room, sauna with a cold plunge pool, pet washing station, pickleball court, zen garden, and coworking lounge. More standard amenities include a shared laundry room and rooftop terrace. Amenities may require an additional fee, the listing says. Tenants are allowed up to two pets with a total weight limit of 50 pounds; there is a $300 refundable pet deposit.

Renderings show apartments with floor-to-ceiling windows and light wood and white cabinetry. Kitchens have stainless steel appliances, caesarstone countertops, and custom cabinetry, according to the development’s website. Tenants have to pay for electricity, which covers the hot water, heating, and stove. There’s in-unit air conditioning and energy-efficient appliances.

Prosper Brooklyn’s developer is Elie Pariente of EMP Capital Group, Issac & Stern are the architects of record, and Durukan Design handled interiors.

Market rate apartments at the 237-unit building started leasing last June, according to StreetEasy. Studios start at $3,460, one-bedrooms at $3,995, and two-bedrooms at $5,945.

EMP Capital Group acquired the site in 2019 for $14 million, city records show. It was previously the headquarters for refrigerator manufacturing company Leader. In 2022, EMP Capital Group secured a rezoning that allowed for the new tower, and they applied for a new building permit the same year. In 2021, Pariente told Community Board 8 the development would include retail space as well as a youth center on the ground floor.

Back then, Nick Liberis of architecture firm Archimaera told the board the ground floor would be an “urban living room” connected to the youth center. Renderings included large eye-catching murals on the building’s side facades. Archimaera is no longer connected to the project, permits show, and it appears the mural plans were ditched along the way.

EMP Capital Group is also behind large neighboring developments at 880 Atlantic Avenue and 985 Pacific Street.

Because the site was rezoned, it has to include affordable units through the city’s Mandatory Inclusionary Housing policy. The listing says it is also expected to get the 421a tax abatement.

The lottery for Prosper Brooklyn closes on April 13. To apply, visit the listing on Housing Connect.

Related Stories

• Atlantic Avenue Rezoning, Set to Bring Thousands of Homes, Passes City Council
• Living on Atlantic Avenue, the ‘Spine of Central Brooklyn’
• Affordable Housing Lottery Opens for 10 Units in Prospect Heights Starting at $780 a Month

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