If you qualify for Mitchell-Lama income limits and win the waiting list lottery, you and your immediate family of five persons could live in an unspecified area of Brooklyn Heights in a three-bedroom co-op that will cost you approximately $52,000 to $61,000.
With two dependents or more, the income limits range between $40,235 and $151,750. And, no, I haven’t any idea how the requirements work or which buildings are available through the newly opened waiting lists.
The program could be a boon for folks looking to buy a one-, two- or three-bedroom apartment in the neighborhood.
Monthly costs for a one-bedroom unit start at $526 and rise no higher than $1,200 for three bedrooms.
As required by law, the Department of Housing Preservation and Development announced in print advertisements that it is opening the waiting lists for those apartments. You’ll find the status of all waiting lists in PDF available on the department’s Web site. There, you’ll also be able to see all the necessary details.
Applicants will be selected by lottery, limited to 300 for the one-bedroom units, 300 for the two-bedroom units and 200 for the three-bedrooms. Winners of the lottery will be required to pay $200, of which $50 will not be refunded.
To enter the lottery, the department must receive your postcard–there are three addresses, depending on apartment size–by Oct. 8.
What’s that slogan? You gotta be in it to win it.
Best of luck!
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022