‘Affordable’ middle-income apartments in Bushwick are only $150 cheaper

Sure, you can do a lot with $150 a month, but does that level of savings really constitute as “affordable?” According to the city, yes. The latest housing lottery to come online, reserved for households earning $130 percent of the area median income, is for three $2,450/month two-bedrooms at Bushwick’s 682 Chauncey Street. By comparison, market-rate two-bedroom units in the new, 10-unit building go for $2,599 or $2,650.

6sqft recently investigated the blurry affordability of middle-income housing, to which the NYC Department of Housing Preservation & Development responded:

These apartments are important not only because they give middle-income families an opportunity to live in a new, rent-stabilized, privately owned affordable apartment. But also because the rents for middle-income apartments cross-subsidize the deeply affordable apartments in mixed-income buildings. This helps to bring more operating revenue into the building that maintains it over time without requiring as much City subsidy.

If the minimal savings is still worth it to you, the building is just one block from the historic Evergreens Cemetery, one block from the Chauncey Street J, Z train station, and a few short blocks from the L at Bushwick Avenue-Aberdeen Street. Though the building is small, it still offers a laundry room, gym, and rooftop.

Qualifying New Yorkers can apply for the affordable apartments at 682 Chauncey Street until September 17, 2018. 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.

Use 6sqft’s map below to find even more ongoing housing lotteries.

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.