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Affordable Housing Lottery opens to purchase Co-op 2-bedroom apartments in the Columbia Street Waterfront District

NYC Housing Connect is holding a rather unusual lottery for four 2-bedroom apartments to purchase for $183,000 – $204,000. They are available to households ranging from two to five people, earning between $57,074 and $115,280 annually and the lottery closes March 31st. The building under construction at 55 Summit Street will feature washers and dryers in the units and a roof top terrace. According to floor plans the units are around 1,070 sf ft big and the building will be zoned for PS 58 in Carroll Gardens. Find out more here.

This building is being constructed through the Inclusionary Housing Program of the New York City Department of Housing Preservation and Development. In order to qualify for this homeownership opportunity, eligible buyers must meet income restrictions listed in the below chart AND ensure the combined annual cost of monthly fees, mortgage payments, utilities and property taxes are between 25% and 35% of their annual household income.

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