A housing lottery launches for 89 apartments in a Downtown Brooklyn luxury building

New Yorkers earning from $50,812 to $215,150 are eligible to apply and rents start at $1,407
Amenities include a gym, media room, business center, outdoor terrace, and package room

By Emily Myers | May 25, 2023 - 9:30AM

Housing lottery applications are open for 89 newly constructed apartments at 540 Fulton St. in Downtown Brooklyn. New Yorkers earning from $50,812 to $215,150 are eligible to apply, depending on the size of the household. Rents start at $1,407 for a studio.

This lottery presents an opportunity for lower- to middle-income New Yorkers to secure a rent-stabilized apartment in a luxury building with lots of amenities. The pet-friendly Paxton Apartments has 42 stories and amenities include a gym, yoga studio, media room, business center, outdoor terrace, bike storage, and package room, for which additional fees apply. The apartments have dishwashers, in-unit washers and dryers, and high-end energy efficient appliances.

The available apartments include studios as well as apartments with one, two and three bedrooms. The income eligibility is for New Yorkers earning from 80 to 130 percent of the AMI. This metric depends on how many people you live with. Currently the AMI for New York City is $106,800 for a two-person household.

There are 34 studios available for households earning from $50,812 to $85,440. Tenants are responsible for electricity, which includes the oven. The developers have set aside 50 percent of the apartments for people already living in the area.

Applications must be submitted online or postmarked no later than July 12th.

If you’re interested and think you might qualify for one of these apartments, you can create a profile and apply online via NYC Housing Connect. For details on this particular lottery, click here. Don’t apply more than once, or you could be disqualified.

Winning a rent-stabilized apartment can be life changing: Rent increases are capped and lease renewals are automatic, providing long-term stability for NYC renters. Need more information on how the housing lottery works? Check out “6 steps for applying to NYC's affordable housing lottery.”

For some advice from successful applicants read “How to land a rental apartment through NYC's affordable housing lottery.” And if you or someone you know is having trouble with the application process, consider reaching out to a housing ambassador in the community.

Note: Brick Underground is in no way affiliated with New York City’s Department of Housing Preservation and Development or the Housing Development Corporation. If you are interested in applying to these or other affordable housing developments, please go to NYC Housing Connect for information and instructions.

Have you successfully won an apartment through the affordable housing lottery? If you have first-person advice to share about the process, we’d love to hear from you. Please send us an email. We respect all requests for anonymity.

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Emily Myers

Senior Writer/Podcast Producer

Emily Myers is a senior writer, podcast host, and producer at Brick Underground. She writes about issues ranging from market analysis and tenants' rights to the intricacies of buying and selling condos and co-ops. As host of the Brick Underground podcast, she has earned four silver awards from the National Association of Real Estate Editors.

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