The Real Deal New York

Odds getting worse: 70K apply for 38 non-market rate units

Williamsburg building located two blocks from McCarren Park

December 30, 2014 12:15PM

59 Frost Street in Williamsburg

59 Frost Street in Williamsburg

Upwards of 70,000 people applied for 38 affordable housing units in a Williamsburg building that’s located at 59 Frost Street.

The application period closed December 22 for apartments in the new, seven-story building, situated just two blocks from McCarren Park. Applicants’ odds will be even worse than the 60,000 who applied for 105 units at nearby 1133 Manhattan Avenue earlier this year.

Dunn Development Corp. headed up the $12.9 million project, which should be ready for tenants to move in next year, according to DNAinfo.

Permits filed earlier this year also showed the Rabsky Group as a developer of the project.

“All of our housing lotteries receive a large response, but location tends to be a significant factor when we see those that are as heavily subscribed as 59 Frost Street,” the Department of Housing Preservation and Development said in a statement.

Rents in the building will start at $640 for a studio, $689 for a one-bedroom and $835 for a two-bedroom. A person with an income between $25,338  and $29,400 could qualify for a one-bedroom, while a household with an income between $30,412 and $33,600 could qualify for a two-bedroom. [DNAinfo] — Tess Hofmann

 

  • cobblehillite

    my guess is that 50,000 will be ineligible right off the bat. another 15,000 will be ineligible once they start delving into the income of people and they will be struggling to fill the building by the closing date as always happens with these lotteries.

  • Charles Dale

    This just shows you the demand for AFFORDABLE housing in all 5 boroughs in New York and elsewhere in the United States but what do you see when just about any building is being put up in any of the 5 boroughs? You see LUXURY buildings going up that costs hundreds of thousands of dollars for each co-op, condo or thousands of dollars in rent each month. Not AFFORDABLE housing which is what the people truly need. The building I now live in Rego Park Queens, my parents and I moved into in 1975. The whole 3 building complex and all the buildings in Rego Park were rentals and the rent for the full 2 bedroom apt. with gas and electric included on the 14th floor with 2 elevators close to stores and transportation was under $500 a month. Since it is a rent stabilized apt. and we kept it since 1975, the rent is only $975 a month now. I will never give up this apt., my father passed in 1995 and my mom is 82. This is what the people need, not all the luxury buildings going up. It is all greed, pure and simple.

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