Can you imagine a 2-BR Brooklyn co-op for $19,000?

The city has just announced the lottery to be placed on waiting lists for one-and two-bedroom Mitchell-Lama co-ops in the FortGreene/Clinton Hill part of Brooklyn.

One-bedroom units run $13,599-$16,757 and two-bedroom apartments, $18,985.  Monthly carrying charges are no more than $620 for the small units and $722 for the bigger ones.

As is the practice of the Department of Housing Preservation and Development, however, there is no clue either in the ad or on the department’s Web site just which buildings will be available.  And unfortunately, I do not know the neighborhood well enough to guess.

If you qualify for Mitchell-Lama income limits and win the waiting list lottery, you and your immediate family of three persons are eligible for units of both sizes, depending on income and the number of family members.

With two dependents or more, income limits for the one-bedroom units  range between $16,456 and $89,141. 

You’ll find the status of many waiting lists in PDF available on the department’s Web site, though not the one for for FortGreen/Clinton Hill. There, you’ll also be able to see all the necessary details.

Applicants will be selected by lottery, limited to 500 for both categories of apartment size. 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 two addresses, depending on apartment size–by Feb. 11.  If you mail more than one postcard, you will be disqualified, and only winners will be notifed.

Include your clearly printed name and address and mail to Cadman Plaza Station.  For a one-bedroom, it’s P.O. Box 24750-271 and it’s P.O. Box 24690-271 for a two-bedroom.  Send the postcard to Brooklyn, NY 11202.

Applicants must be residents of the state, at least 18 years old by the time of the lottery and financially responsible.  Preference is given to veterans.

Should you have hopes of snagging an apartment with a plan to flip it for a profit or your a board member of a Mitchell-Lama building, don’t miss a revealing piece just published by Habitat magazine.

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201
Web site

4 thoughts on “Can you imagine a 2-BR Brooklyn co-op for $19,000?

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