The ‘Affordable’ Housing Lottery Brings Seven Pricy Units To Bed-Stuy
The seven units available through Housing Connect appear to be well-built, spacious, and with new finishes, at 597 Marcy Ave, a building built through the 421-a tax benefit.
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The income requirements and rents may be beyond what many would consider affordable.
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The measurement used to determine levels of affordability starts at 80% of the Area Median Income.
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The studio apartment will rent for $1,730 a month and have an income requirement of $62,000 – $74,000 for a single person
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A two-bedroom unit at 80% AMI rents for $2,198 and is restricted to two people making between $80,00-$85,000 or more for five people.
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A two-bedroom unit listed for $2,791 a month is restricted to households earning between $95,000 and $187,000 a year
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This is one of the pricier units restricted to even higher incomes.