Affordable Housing Lottery in East Flatbush

421a Tax Abatement located at 824 East NY Avenue in Brooklyn

The Real Deal reports that developer Aview Builders is building a new development in the East Flatbush neighborhood of Brooklyn. The location of the project is 824 East New York Avenue. The project is in the middle of construction. Aview Builders plans to build a 66,375-square-foot building with a total of 64 units.

Aview Builders are seeking 421A tax abatement, therefore, they have assigned 30% of the units of the building to New York’s Affordable Housing project.  Out of the 64 units 28 have been assigned to New York’s Affordable Housing lottery. The lottery is set to an area median income of 130%. To qualify for the affordable rental units applicants must show they earn between $61,715 and $135,590. The affordable rental units will include 6 studios going to $1,800, 19 one-bedroom units with a rent of $2,200 and 3 tw0-bedroom units with $2,600 rent. The building is just a short walk away from its closest subway station.

Leasing for the affordable rental units will begin early 2020.