Affordable Housing Lottery Launches for Midwood Building With $1,019 Units

An affordable housing lottery has launched for 20 apartments in a new nine-story development on Nostrand Avenue in Midwood. The beige brick building includes a total of 74 apartments, as well as a gym and community center.

There are 20 one- and two-bedroom apartments in the lottery for the building at 2892 Nostrand Avenue, all income restricted and rent stabilized. 16 are truly affordable. The truly affordable units are for families earning 40 to 60 percent of the Area Median Income, with income limits set between $42,343 and $105,000 for households of one to five people, according to the listing.

They include 14 one-bedroom apartments for $1,019 and $1,601 and two two-bedroom units for $1,901 a month. The remaining four apartments in the lottery are for those earning 90 or 130 percent of AMI, including a two-bedroom priced at $4,484 a month.

Designed by Fischer Makooi Architects and developed by Mikerose Brooklyn LLC, renderings show the building has a light beige brick facade with tall narrow windows. Apartments on the outer edges of the building are set back from the street and have balconies. Some upper floor apartments have balconies that appear to recess from the facade.

Inside, renderings show the apartments have white and light wood finishes, and floor-to-ceiling windows. According to the listing, units include washers and dryers, dishwashers, and air conditioning, while the building has a dog washing station, community center, gym, rooftop and outdoor terraces, parking, bike storage, and a business center.

Tenants have to pay for electricity, which covers the stove and heat, while hot water is included in the rent. The listing says tenants are allowed one cat or dog per household, up to 45 pounds, with a $300 pet deposit.

City records show the Nostrand Avenue site, which previously housed a single-story industrial building used by Midwood Plumbing Services, was transferred from longtime owner Lumber Headquarters Inc. to Mikerose Realty Inc. in 1995. Records show there was no money exchanged at the time. Mikerose Realty Inc. then transferred the deed to Mikerose Brooklyn LLC. Igor Vaysman and Mikhail Vaysman both acted as signatories for the LLCs.

In 2020, the Mikerose Realty, Inc. applied to rezone the site for the nine-story residential building. In 2022, the LLC applied for permits to demolish the existing industrial building, as well as to construct the new building.

Because the building benefits from rezoning it requires affordable units under the city’s Mandatory Inclusionary Housing Program. According to the listing, the building is anticipated to receive a tax exemption under the now-expired 421-a program.

The 2892 Nostrand Ave Apartments lottery closes May 12. To apply, visit the listing on New York City’s Housing Connect website.

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