Land an affordable, rent-stabilized apartment in a new development without entering the Housing Lottery
- Re-rentals are former Housing Lottery units and TF Cornerstone makes them easy to find on its website
- You must meet income requirements but you apply directly through the developer or property manager
A studio with a view at 5241 Center Blvd. is available as a re-rental.
TF Cornerstone
Most New Yorkers know about the lengthy process of applying to housing lotteries: you create a Housing Connect profile, apply during a specific window, and wait, sometimes for months or even longer.
What fewer New Yorkers know is that there's a parallel path to rent-stabilized, affordable apartments in new developments that doesn't go through Housing Connect at all. It's called a re-rental.
What is an affordable re-rental?
When a tenant moves out of an affordable, rent-stabilized unit they originally won through a housing lottery, the apartment doesn't go back on the open market. It stays in the affordable housing pool and is offered to a new income-qualified household through the re-rental process, under the same lottery rules that applied to the original unit.
These opportunities come up on a rolling basis. They're not tied to a single application window, and they don't appear on Housing Connect. Re-rentals can be hard to find—unless you know where to look.
This re-rental process is new and not guaranteed to continue for years to come, so don’t miss out on your opportunity for a more seamless and less time-consuming affordable housing process.
Am I eligible?
Eligibility requires meeting income, household size, and asset requirements. These affordable units serve a wide range of incomes from 40 percent to 165 percent Area Median Income (AMI). NYC re-rental income requirements are listed within each unit's info, so you can check your eligibility before applying. The income verification and oversight follow the same standards as the Department of Housing and Urban Development, ensuring fair access across income bands.
This is where a lot of middle-income New Yorkers tune out—which is exactly why so many miss out. Because these programs are designed for a wide range of income levels; there are apartments at 130-165 percent AMI, meaning annual household incomes at roughly $154,000-$280,000 depending on household size may qualify. That's a meaningful chunk of the city conditioned to assume affordable housing isn't for them.
How rent increases work—and why it matters
One of the most valuable things about living in an affordable, rent-stabilized unit is the predictability of your rent overtime. Annual increases in these buildings are set by the Rent Guidelines Board, the same board that sets rent limits across the city's regulated housing stock. Knowing your rent increases are limited offers security compared to market-rate units, which do not have these built-in protections.
One easy place to check: TFC's re-rental listings
TF Cornerstone—which manages rental buildings in Manhattan, Brooklyn, and Long Island City—lists all currently available re-rental units at tfc.com/about/affordable-re-rentals. The site is updated as units become available, so it's worth checking back regularly. Qualified applicants can request an application directly on the site.
Below are some of TFC’s buildings where you will find re-rentals.
595 Dean St., Prospect Heights, Brooklyn
Steps from Prospect Park and anchored by Pacific Park's greenspace, 595 Dean is a two-tower development in one of Brooklyn's most sought-after neighborhoods. Studio, one-, and two-bedroom apartments feature Caesarstone counters, gas stoves, and modern finishes. Select units include private terraces, extra-high ceilings, and in-unit washer/dryers.
The amenity package includes a rooftop pool with sweeping Brooklyn views, exclusive access to Chelsea Piers Fitness, co-working space with private call booths, a screening room, children's playroom, resident lounge, and concierge pet services through Throw Me A Bone. Pacific Park's playground and dog run are also right outside.
5203 and 5241 Center Blvd., Hunter's Point South, Queens
Two waterfront buildings on the East River with panoramic views of the Manhattan skyline from nearly every angle. You'll find floor-to-ceiling windows, open layouts, and walk-in closets. Some apartments have in-unit washer/dryers.
The buildings share a connected amenity program: fitness center, yoga room, landscaped rooftop deck, children's playroom, HomeWork co-working space, club room, and residents' lounge. Hunter's Point South Park is steps away, the NYC Ferry puts Midtown across the river in minutes, and a free TFC shuttle runs to the Vernon-Jackson 7 train.
455 & 505 West 37th St, Hudson Yards/Hell's Kitchen, Manhattan
Two buildings on the West Side of Manhattan, with studio, one-, two-bedroom apartments. Floor-to-ceiling windows, city views, private balconies and terraces in select units. Amenities include fitness centers, landscaped roof decks, HomeWork co-working space, and a Sky Club lounge. Penn Station, the High Line, and the Hudson River waterfront are all within walking distance.
While Prospect Heights and Hunter’s Point South have a range of AMI offerings, the re-rentals in Hudson Yards are all 40-50 percent AMI.
Here are other TFC Properties that include re-rentals and may have availability soon:
- The Max, 606 West 57th St., Manhattan
- 33 Bond St., Brooklyn
- 223 N 8th St., Brooklyn
- 2-20 Malt Dr., Queens
- 2-21 Malt Dr., Queens
How to apply
Visit tfc.com/about/affordable-re-rentals to see what's currently available. Confirm you meet the income requirements for your household size, then request an application directly from the listing. Availability changes as units open, so check
back regularly.
Qualified renters can apply today
If you've assumed that affordable, rent-stabilized housing isn't accessible to you because of your income level, because you've never won a lottery, or because you didn't know this path existed— re-rentals are worth considering. Units open up on a rolling basis in buildings you'd genuinely want to live in. Your rent increases are predictable and capped by the New York City Rent Guidelines Board. And the savings over market rate are real.
Check Current Re-Rental Availabilities at TF Cornerstone → tfc.com/about/affordable-re-rentals
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