Real Estate

Affordable Housing Lottery Opens in Downtown Brooklyn With Studios Starting at $897

Affordable units are now up for grabs in the big glassy building going up where a huge block-long parking garage stood for years in Downtown Brooklyn.

affordable housing lottery downtown brooklyn 33 bond street

Rendering via TF Cornerstone

by Seán Devlin

02/14/2017 3 minute 0

Affordable units starting at $897 a month are now up for grabs in the big glassy building going up at 33 Bond Street in Downtown Brooklyn where a huge block-long parking garage stood for years.

The 25-story tower will have 714 units in total, 143 of which are affordable rentals. The affordable units will go for $897 for a studio, $963 for a one-bedroom apartment, and $1,166 for a two-bedroom unit.

Eligible households will have incomes ranging from $32,640 for one person to $54,360 for four people. The rents are set at 60 percent of the Area Median Income.

Amenities and features include a 24-hour attended lobby, a building manager who lives on site, a sun terrace, gym, computer lounge, party rooms, dog grooming area, laundry and bike storage. (The notice notes additional fees apply for the fitness center, computer room, pet wash, party rooms, bike storage and laundry.)

Developer TF Cornerstone bought the site in 2013 for $70 million. Handel Architects is designing.

The four-decker parking garage at 300 Livingston Street housed an IHOP, Subway and Papa Johns, among others, on its ground floor. It stood out because of its massive size; some considered it an eyesore and others a convenience.

The 25-story mixed-use building will increase density, apartments and walkability in the area.

The development is part of a wave of construction in Downtown Brooklyn, with taller and denser apartment buildings and hotels typically replacing small commercial buildings.

TF Cornerstone is a Manhattan-based firm that develops and manages properties in New York and D.C.

Handel Architects is a large, global firm that handles architecture, interiors and planning. Other Brooklyn projects include the 22-acre development Greenpoint Landing.

The lottery opened Monday, February 13, and runs through April 14. For more information on the lottery or to apply, visit NYC Housing Connect. For tips on how to apply, read our Brownstoner guide.