Lottery launches for 52 affordable units at a beachfront rental in Coney Island, from $759/month

January 9, 2019

Rendering via Concern for Independent Living

An affordable housing lottery launched on Wednesday at a mixed-use development located in Coney Island one block from both the beach and the recently-landmarked Riegelmann Boardwalk. The nine-story development at 3003 West 21st Street, dubbed Surf Vets Place, offers residents a 24-hour attended lobby, sun terrace, a fitness center, computer lounge, and party rooms. Qualifying New Yorkers earning 50 and 60 percent of the area median income can apply for the apartments, ranging from a $759/month one bedroom to a $1,289/month three-bedroom.

Surf Vets Place, 2002 Surf Avenue

In 2016, developers Georgica Green Ventures and Concern for Independent Living filed plans for a new building on a vacant lot at the corner of West 21st Street and Surf Avenue. As 6sqft previously reported, the building includes 7,000 square feet of retail and commercial space on its ground floor as a way to embrace the atmosphere of the nearby boardwalk.

With 135 total units, developers plan to set aside 82 studio apartments for homeless veterans and 52 apartments for those earning at or below 60 percent of the AMI.

During the summer, residents of Surf Vets Place will likely never be bored, being just steps from all of the fun and frivolity of Coney Island: the amusement rides at Luna Park, the Brooklyn Cyclones stadium, and the open-air venue Ford Amphitheater. Nearest transit options include the F, N, D, and Q trains, as well as the B82 bus.

Qualifying New Yorkers can apply for the affordable apartments at 3003 West 21st Street until March 13, 2019. Fifty percent of units are reserved for residents of Brooklyn Community Board 13. Complete details on how to apply are available here (pdf). Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.

If you don’t qualify for the housing lotteries mentioned, visit CityRealty.com’s no-fee rentals page for other apartment deals in the city.

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Location: Coney Island

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August 21, 2017

Loss of affordability at Coney Island’s Trump Village highlights issues with the city’s Mitchell-Lama program

By Devin Gannon

Built by Donald Trump’s father, Fred, in 1964, Trump Village in Coney Island features seven 23-story towers with 3,700 co-op and rental apartments. To pay for the $70 million project, which would total $564 million today, Fred Trump used Mitchell-Lama, a government program that granted financial incentives in exchange for setting aside affordable housing. The typical rental contract lasts 20 years, and after that, landlords can opt-out of the program. As Crain’s reported, Trump Village became one of the first co-ops to exit the Mitchell-Lama program in 2007, letting residents sell their apartments for whatever the market allowed. Owners of 38,000 Mitchell-Lama apartments, representing 28% of the program's housing, have left in the past 20 years. But as the value of these apartments, which were once affordable, keeps rising, New Yorkers looking for affordable housing there, and other former Mitchell-Lama apartments, may be out of luck.
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