Affordable Housing

An affordable housing lottery opens for 41 apartments close to Barclays Center in Brooklyn

  • Rents start at $1,119 a month for a studio.
  • You can apply if you earn $41,315 to $187,330
By Emily Myers | October 27, 2022 - 9:30AM

Rents for an affordable housing lottery at 540 Waverly Ave. start at $1,119 for a studio. 

NYC Housing Connect

Applications are open through the affordable housing lottery for 41 newly constructed apartments at 540 Waverly Ave., a few blocks from Barclays Center and close to Prospect Park. Rents start at $1,119 a month for a studio. Eligible applicants for this lottery must earn from $41,315 to $187,330 depending on the size of the household. 

There are 16 one-bedroom apartments are available for renters with incomes from $52,080 to $96,080 depending on the number of people in the household. The rent for these apartments is $1,702.

The stabilized apartments are studios, one, and two bedrooms set aside for households earning from 80 to 130 percent of the area median income (AMI). This varies depending on how many people you live with. Currently the AMI for New York City is $106,800 for a two-person household. 

The building is pet friendly and amenities include a shared laundry room, rooftop terrace, and bike storage lockers. The closest subway is Clinton-Washington Ave for the G train but there's also easy access to the 2, 3, 4, D, N, and R trains. 

The developers have set aside 50 percent of the rent-stabilized apartments for those who live in the community. There is also a 5 percent preference for NYC employees. A small percentage of apartments will be allocated to applicants with mobility, vision, and hearing needs. 

Applications must be submitted online or postmarked no later than January 3rd. 

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 one of these rent-stabilized apartments can be life changing: Rent increases are capped and lease renewals are automatic, providing long-term affordability 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.

 

Emily Myers

Senior Writer/Podcast Producer

Emily Myers is a senior writer, podcast host, and producer at Brick Underground. She studied journalism at the University of the Arts, London, and graduated with a MA Honors degree in English Literature from the University of Edinburgh.

Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.
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