Affordable Housing Lottery for Luxury ‘Burg Complex Has $2,067 Studios

Another affordable housing lottery has launched at Williamsburg Wharf, a large luxury development along the East River just south of the Williamsburg Bridge. The lottery applies to one of the project’s five 22-story buildings.

The lottery is for Williamsburg Wharf A3, aka 470 Kent Avenue, and includes 55 studio, one-, and two-bedroom apartments. All of the units are rent stabilized and income restricted, reserved for households earning 80 percent of the Area Median Income or $75,532 to $140,000 annually for households of one to five people, according to the listing.

The lottery includes 15 studios renting for $2,076 a month, 33 one-bedroom apartments priced at $2,218, and seven two-bedroom units going for $2,648 a month.

Developed by the Naftali Group and designed by Brandon Haw Architecture and Hill West, the building will contain 183 apartments in total, according to permit filings. Apartments come equipped with dishwashers, in-unit washers and dryers, air conditioning, and high-end appliances, the listing states. Tenants are responsible for electricity, which covers heating and cooling, while gas and hot water are included in the rent. One pet weighing up to 30 pounds is allowed.

Marketed by the developer as offering “resort-style” living, the building amenities include a dog park, basketball court, swimming pool, gym, rooftop terrace, electric vehicle charging stations, and car and bike parking. Some amenities require additional fees, according to the listing.

Altogether, the five-building Williamsburg Wharf project covers 3.75 acres and offers 525 feet of waterfront access, including a public promenade, walking paths, and landscaped open space, according to the development’s website. Retail space is planned for the lower floors of the buildings.

Renderings show that two of the buildings — 470 and 482 Kent Avenue — rise from six-story podiums, with an additional 16 stories above featuring setbacks near the penthouse levels. The buildings are clad in bronze-toned paneling, have floor-to-ceiling windows with mullions, and are topped with rectangular mechanical bulkheads.

It remains unclear whether all of the apartments at 470 Kent Avenue will be rentals, though the development as a whole includes a mix of rental units and condominiums. Market-rate rentals are currently listed in two of the buildings on the project’s website, ranging from a studio priced at $3,411 a month to a two-bedroom listed at $9,943. StreetEasy shows that unregulated apartments began leasing in March 2025, with 16 units currently available. According to StreetEasy, studios start at $3,975 a month, one-bedrooms at $5,200, and two-bedrooms at $8,800.

Before redevelopment, the site was home to a lumber yard operated by Abraham Rosenberg. City records show that the Naftali Group purchased the property in 2020 for $51.19 million. That year, the new owner applied for a permit to demolish the existing three-story building, followed by filings for new-construction permits in 2021.

Ahead of the sale, Rosenberg obtained a zoning certification in 2010 that allows for a mixed-use residential development and requires public access along the waterfront, according to city planning documents. The site is part of the Inclusionary Housing program, which sets affordability at 80 percent of AMI, and the project is also expected to qualify for the 421-a tax incentive, the listing states.

The Williamsburg Wharf A3 aka 470 Kent Avenue lottery closes on January 23. To apply, visit the listing on New York City’s Housing Connect website.

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