Affordable Housing Lottery Offering DUMBO Apartments for Under $900

By Janet Upadhye on February 17, 2014 5:08pm 

 Affordable studios are available for $539 a month and two-bedrooms are renting for $893 a month.
Affordable studios are available for $539 a month and two-bedrooms are renting for $893 a month.
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DUMBONYC

DUMBO — It's a waterfront pad for the price of a closet.

Dozens of apartments at the Dock Street DUMBO development are up for grabs in an affordable housing lottery, with studios going for as little as $539 and two-bedrooms for less than $900, Community Board 2 officials announced.

The project at 60 Water St., which is currently under construction near Dock Street, set aside 58 low-income units for residents making up to $23,520 for a studio and $41,950 for a two-bedroom. A full breakdown of rental prices and qualifying income levels can be found here.

Applicants will be entered into a lottery, with preference given to New York City residents.

Dock Street DUMBO's 17-story tower will be home to 300 rental apartments and will include a public middle school, retail and business space and a parking lot for visitors to Brooklyn Bridge Park, according to Two Trees.

The rest of the apartments will lease at market rates, but it's not clear how much they will cost.

Those interested in entering the lottery can download an application here. Applications must be postmarked by April 7.

Apartments should be ready for occupancy in the first quarter of 2015, according to Curbed.

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