New ‘Affordable’ Homes In Park Slope Come With A High Price Tag

PARK SLOPE, NY — A new housing lottery in Brooklyn offers 25 so-called affordable units—but the income requirements may stretch the definition.

At 224 12th St., the sleek 11-story development offers 25 units with modern amenities and spacious floor plans ranging from studios to three-bedrooms. But with high income requirements and steep rents, the units may be out of reach for many New Yorkers looking for truly affordable housing.

The lottery starts at 60% of the Area Median Income (AMI), the benchmark used to define affordability. The sole studio apartment, for example, rents for $1,313 per month and requires a single applicant to earn between $48,823 and $68,040 annually.

A two-bedroom unit at 60% AMI rents for $1,969 per month and is available to households earning between approximately $73,338 and $77,760 for two people, or up to $97,200 for a family of four.

There are also higher-priced units at the same 80% AMI tier, including six studio apartments listed at $1,779 per month, available to households earning between approximately $64,800 and $103,680 annually.

Each unit includes an in-unit intercom and modern, energy-efficient appliances. Residents have access to shared laundry facilities, secure package storage, and optional bicycle parking (additional fees apply). The building also features a 1,995-square-foot rooftop recreational area with landscaped gardens for outdoor enjoyment.

A percentage of units are reserved for individuals with specific needs, including 5% for those with mobility impairments and 2% for residents with vision or hearing impairments. Additionally, a portion of units is set aside for residents of Brooklyn Community Board 6 and for NYC employees.

The lottery ends on June 17. Click here to submit your application.