'Affordable' Housing Lottery Brings Seven Pricy Units To Bed-Stuy

BED-STUY, BROOKLYN — A new building in Bed-Stuy technically offers seven units of affordable housing, but the income requirements might be stretching the term.

At 597 Marcy Ave, a building built through the 421-a tax benefit, the seven units available through Housing Connect appear to well-built, spacious and with new finishes. But the income requirements and rents might be beyond what many would consider affordable.

Starting at 80% of the Area Median Income, the measurement used to determine levels of affordability, the one studio apartment will rent for $1,730 a month and has an income requirement of about $62,000 - $74,000 for a single person.

A two-bedroom unit at 80% AMI rents for $2,198 and is restricted to two people making between around $80,00-$85,000 or up to $115,000 for five people.

There are also pricer units restricted to even higher incomes at 130% of AMI, like a two bedroom unit listed for $2,791 a month and restricted to households earning between around $95,000-$187,000 a year

Each unit features a washer and dryer, air conditioning, balconies or patios, an elevator and a rooftop terrace.

The lottery ends on November 1. Click here to submit your application.