Housing Lottery Launches for Atlantic Chestnut Phase 2 in Cypress Hills, Brooklyn

The affordable housing lottery has launched for Atlantic Chestnut Phase 2, a 14-story mixed-use building at 254 Euclid Avenue in Cypress Hills, Brooklyn. Designed by Dattner Architect and developed by Phipps Houses, the structure yields 436 residences. Available on NYC Housing Connect are 369 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $19,372 to $173,340.

Amenities include bike storage lockers, a shared laundry room, gym, party room, children’s playroom, package lockers, and a 24-7 staffed attended lobby. There is a landscaped courtyard and a roof deck above the eighth floor, which will feature gardening beds, natural habitats, and sweeping views of the surrounding area. Residences are equipped with dishwashers, built-in microwaves, and air conditioning.

Atlantic Chestnut Phase 2 in Cypress Hills, Brooklyn via NYC Housing Connect

At 30 percent of the AMI, there are six studios with a monthly rent of $454 for incomes ranging from $19,372-$37,290; 15 one-bedrooms with a monthly rent of $577 for incomes ranging from $24,138-$41,940; 15 two-bedrooms with a monthly rent of $680 for incomes ranging from $29,143-$50,310; and seven three-bedrooms with a monthly rent of $774 for incomes ranging from $33,806-$57,780.

At 50 percent of the AMI, there are 15 studios with a monthly rent of $855 for incomes ranging from $33,120-$62,150; 38 one-bedrooms with a monthly rent of $1,078 for incomes ranging from $41,315-$69,900; 39 two-bedrooms with a monthly rent of $1,281 for incomes ranging from $49,749-$83,850; and 17 three-bedrooms with a monthly rent of $1,468 for incomes ranging from $57,600-$96,300.

At 60 percent of the AMI, there are 18 studios with a monthly rent of $1,243 for incomes ranging from $46,423-$74,580; 46 one-bedrooms with a monthly rent of $1,563 for incomes ranging from $57,943-$83,880; 46 two-bedrooms with a monthly rent of $1,864 for incomes ranging from $69,738-$100,620; and 20 three-bedrooms with a monthly rent of $2,142 for incomes ranging from $80,709-$115,560.

At 80 percent of the AMI, there are seven studios with a monthly rent of $1,709 for incomes ranging from $62,400-$99,440; 18 one-bedrooms with a monthly rent of $2,145 for incomes ranging from $77,898-$111,840; 18 two-bedrooms with a monthly rent of $2,563 for incomes ranging from $93,703-$134,160; and seven three-bedrooms with a monthly rent of $2,949 for incomes ranging from $108,378-$154,080.

At 90 percent of the AMI, there are five studios with a monthly rent of $1,516 for incomes ranging from $55,783-$111,870; 14 one-bedrooms with a monthly rent of $1,904 for incomes ranging from $69,635-$125,820; 13 two-bedrooms with a monthly rent of $2,272 for incomes ranging from $83,726-$150,930; and five three-bedrooms with a monthly rent of $2,613 for incomes ranging from $96,858-$173,340.

Prospective renters must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than May 19, 2025.

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