The affordable housing lottery has launched for 540 Atlantic Avenue, a pair of eight-story residential towers in Boerum Hill, Brooklyn. Designed by NA Design Studio and developed by JCS Realty, the structure yields 159 residences. Available on NYC Housing Connect are 48 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $122,400 to $227,500.
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
Amenities include pet-friendly policies, a dog washing station, assigned parking spaces, bike storage lockers, a shared laundry room, gym, media room, business center, rooftop terrace, and virtual doorman. Residences are equipped with air conditioning, intercoms, energy-efficient appliances, smart contrls for heating and cooling, and name-brand kitchen appliances and finishes. Tenants are responsible for electricity, including stove and heat.
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
New tenants get two months of free rent concession on a one- or two-year lease.
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
At 130 percent of the AMI, there are 12 studios with a monthly rent of $3,405 for incomes ranging from $122,400 to $168,480; 12 one-bedrooms with a monthly rent of $3,640 for incomes ranging from $131,315 to $189,540; and 24 two-bedrooms with a monthly rent of $4,347 for incomes ranging from $157,749 to $227,500.
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
540 Atlantic Avenue in Boerum Hill, Brooklyn via NYC Housing Connect
Prospective renters must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than October 21, 2025.
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(affordable) housing for the higher income earners in a better off neighborhood, city of yes for the profiteers developers
Ok
130% of AMI translates into tent that is too expensive for 80% of people in this area. 100% AMI still means half cannot afford it.
Thus, this is unaffordable housing. And its only about 1/3 of the apartments in the building. This is diabolical.
Pretending that people can afford these kinds of rents is not going to help solve the housing crisis.