Housing Lottery Launches for Capstone Condominiums at 940 Myrtle Avenue in Bed-Stuy, Brooklyn

Capstone Condominiums at 940 Myrtle Avenue in Bed-Stuy, Brooklyn via NYC Housing Connect

The affordable housing lottery has launched for Capstone Condominiums, a nine-story mixed-use residential building at 940 Myrtle Avenue in Bedford-Stuyvesant, Brooklyn. Designed by Fischer + Makooi Architect, the structure has 24 newly built condo units available on NYC Housing Connect. Eligibility is open to first-time buyers at 60 to 80 percent of the area median income (AMI), ranging in income from $37,500 to $103,120.

Residences will have dishwasher in unit, name-brand countertops and finishes, and hardwood floors. Amenities include storage, an elevator, bike storage lockers, and a shared laundry room.

Capstone Condominiums at 940 Myrtle Avenue in Bed-Stuy, Brooklyn via NYC Housing Connect

Capstone Condominiums at 940 Myrtle Avenue in Bed-Stuy, Brooklyn via NYC Housing Connect

At 60 percent of the AMI, there are five studios ranging in price from $203,682 to $206,599 for incomes ranging from $37,500 to $57,300; five one-bedrooms ranging in price from $203,234 to $204,229 for incomes ranging from $37,500 to $64,440; and 11 two-bedrooms ranging in price from $230,924 to $234,597 for incomes ranging from $37,500 to $77,340.

At 80 percent of the AMI, there are two one-bedrooms ranging in price from $294,232 to $306,630 for incomes ranging from $37,500 to $85,920 and one two-bedroom priced at $355,811 for incomes ranging from $37,500 to $103,120.

Prospective buyers must meet income and household size requirements to apply for these apartments. Eligible buyers may have five percent of the purchase price available for a down payment, however larger down payments may allow for lower minimum incomes. Applications must be postmarked or submitted online no later than January 21, 2021.

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TFC Horizon
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3 Comments on "Housing Lottery Launches for Capstone Condominiums at 940 Myrtle Avenue in Bed-Stuy, Brooklyn"

  1. Yes, this! Affordable homeownership — more of this please!! Build the middle class, let people build up equity, and build a city we can all be proud of.

  2. Cleveland Holmes | November 26, 2021 at 12:16 am | Reply

    I’m interested in a one bedroom apartment. Thank you for your consideration.

    • This is just a website about buildings under construction. It would be helpful if the author included a link or instructions for how to apply for this building, but they did not.

      If you would like to apply for affordable housing, this is not the place. You need to search for and go to the “NYC Housing Connect” website (the one whose address ends with a “.gov”) and apply online or get their phone number and find out the application process. Best of luck.

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