Brooklyn, NY

Brooklyn affordable apartments as low as $1,288 per month

Beth Torres

Some of my recent housing lottery articles have mentioned rents as low as $397 a month. Compared to that, the best deal in this lottery — $1,288 for a studio apartment — might not sound so exciting. However, if you compare it to the $3,445 average rent for a Brooklyn studio apartment reported by Zumper, it still looks good by comparison:

“As of November 5, 2022, the average rent for a studio apartment in Brooklyn, NY is $3,445. This is a 21% increase compared to the previous year.”

This new, luxury building at 150 Bayard Street is in Brooklyn’s Greenpoint neighborhood. See the video below about this “trendy” part of New York. The deadline for this affordable housing lottery is November 25, 2022. See below for details on how to apply.

“Best public schools”

If you have kids in school, this enthusiastic comment about Brooklyn’s Greenpoint neighborhood on the NYC Housing Connect website may interest you:

“It provides terrific parks, finest restaurants, and it has the best public schools in New York.” (emphasis added)

I have no way to verify this statement, but I have not seen anything similar in any other description of a housing lottery. Access to great schools would be a fine amenity for a family.

The numbers

There are just 14 apartments in the 150 Bayard Street Apartments NYC Housing Connect lottery: three studios, four one-bedrooms, and seven two-bedroom units. 

Studio apartments. Three of the apartments are studios, with rents ranging from $1,288 to $2,463 per month. 

One-bedroom apartments. There are four one-bedroom apartments available for households of one to three people. These rent for $1,342 to $2,631 per month, depending on total household income.

Two-bedroom apartments. Seven two-bedroom apartments, for households of two to five individuals, are in this lottery. Monthly rents for these vary from $1,622 to $3,142.

If you are following these lotteries, you are no doubt familiar with the Area Median Income, or AMI, as it applies to the rents charged. In this case, the rent for a studio apartment nearly doubles when you go from the 80% to the 130% of AMI bracket. For more information, including household income requirements, see the NYC Housing Connect website.

And speaking of amenities...

Holy mackerel, there are a bunch of amenities for this brand-new building! I counted 29 of them, quite possibly a record, at least among my housing lottery articles. Here are some of them:

  • Assigned parking spaces*
  • Patio or balcony
  • Common area Wifi
  • Gymnasium
  • Yoga/dance studio
  • Outdoor terrace
  • Package lockers
  • Shared laundry room*

* Additional fees may apply

Utilities

The tenant is responsible for electricity, which includes heat.

How to apply

Be sure to apply before the deadline: November 25, 2022. Apply online or by mail, just don’t do both.

It’s in “trendy” Greenpoint, Brooklyn

The Greenpoint neighborhood of Brooklyn looks like a genuinely interesting place, if this video is any indication. 

Wrapping up

Does this sound like a good, maybe even great, deal if you are lucky enough to win this lottery? The rents aren’t as low as some, but it does sound like a truly luxurious building in an interesting part of town. And if the schools are as good as suggested, that’s a big plus for families. Let me know in the comments what you think.

If you would like to see more articles like this, please follow me – it really does help! Like and share this article with your friends if you think they might enjoy it as well. Thanks!

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