Housing Lottery Launches for 505 State Street in Downtown Brooklyn

The affordable housing lottery has launched for 505 State Street, a 44-story mixed-use building at 100 Flatbush Avenue in Downtown Brooklyn. Designed and developed by Alloy Development, the structure yields 440 residences. Available on NYC Housing Connect are 45 units for residents at 40 to 100 percent of the area median income (AMI), ranging in eligible income from $29,109 to $127,100.

505 State Street in Downtown Brooklyn via NYC Housing Connect

505 State Street in Downtown Brooklyn via NYC Housing Connect

Each apartment is finished with natural materials, energy-efficient appliances, induction cooktops, in-home washer/dryers, air conditioning, smart controls for heating/cooling, and dishwashers. No-fee building amenities include an attended lobby with 24/7 concierge, package room, product library, gym with yoga studio, grow room, workspace with kitchen, conference rooms, “zoom” rooms, children’s playroom, lounge with kitchen & outdoor terrace, screening room, rooftop pool and terrace with 360 views, rooftop cabanas with seating & grills, and a rooftop living room with full kitchen. Tenants are responsible for household electricity, including electric stove.

At 40 percent of the AMI, there are four studios with a monthly rent of $763 for incomes ranging from $29,109 to $45,200; 11 one-bedrooms with a monthly rent of $812 for incomes ranging from $31,200 to $50,840; two two-bedrooms with a monthly rent of $965 for incomes ranging from $37,509 to $61,000; and one three-bedroom with a monthly rent of $1,105 for incomes ranging from $43,406 to $70,040.

At 60 percent of the AMI, there are 13 one-bedrooms with a monthly rent of $1,260 for incomes ranging from $46,560 to $76,260; four two-bedrooms with a monthly rent of $1,502 for incomes ranging from $55,920 to $91,500; and one three-bedroom with a monthly rent of $1,725 for incomes ranging from $64,663 to $105,060.

At 100 percent of the AMI, there is one studio with a monthly rent of $2,017 for incomes ranging from $69,155 to $113,000; and eight one-bedrooms with a monthly rent of $2,155 for incomes ranging from $73,886 to $127,100.

Prospective renters must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than December 11, 2023.

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