The Brooklyn Tower (Binyan Studios)
As the borough's tallest tower, The Brooklyn Tower has attracted attention from architecture enthusiasts and apartment hunters alike since it was on the drawing board. In the latest new development, a housing lottery for 120 rent-stabilize units in the building has begun.
Individuals and households earning 130% of the Area Median Income ($90,172 - $215,150) have until May 30, 2023 to apply for 57 studios, 44 one-bedrooms, 18 two-bedrooms, and one three-bedroom. Prices range from $2,630/month for studios to $3,872/month for the three-bedroom. In addition to prices that come to a fraction of the local median rent (per CityRealty listings), the building is offering incentives for the rent-stabilized units like one month free rent and $500 security deposits for apartments of all sizes. Full details and the lottery application may be found here.
Individuals and households earning 130% of the Area Median Income ($90,172 - $215,150) have until May 30, 2023 to apply for 57 studios, 44 one-bedrooms, 18 two-bedrooms, and one three-bedroom. Prices range from $2,630/month for studios to $3,872/month for the three-bedroom. In addition to prices that come to a fraction of the local median rent (per CityRealty listings), the building is offering incentives for the rent-stabilized units like one month free rent and $500 security deposits for apartments of all sizes. Full details and the lottery application may be found here.
Lottery criteria (Housing Connect)
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The lottery at The Brooklyn Tower comes at a time when the city's housing affordability crisis shows little sign of abating. Months after the expiration of 421a, the program that offered developers tax breaks in exchange for providing a percentage of affordable units in their buildings, only the most intrepid developers have been pressing forward with new rental projects. Others have changed their rentals to condos or put the projects on hold until a replacement or another tax break is enacted. The mayor has proposed a series of initiatives to make it easier to build in New York, and housing is a top priority for the governor as well, but this will still take time to resolve.
The Brooklyn Tower apartment (Gabriel Sherman)
However, the lottery at The Brooklyn Tower would be eagerly anticipated at any time because of the building's towering height, well-thought interiors, extensive amenity package, and prime location. The apartments start on the 11th floor so as to make the most of skyline views afforded by Brooklyn's tallest tower. The rent-stabilized units will be scattered throughout the rental floors and, like their market-rate counterparts, feature interiors by Gachot Studios with floor-to-ceiling windows, European white oak flooring, in-unit washer/dryer, kitchens with granite countertops and Miele appliances, and zoned, hybrid heat-pump HVAC systems.
Condo living room (Elliman)
Market-rate leasing has not yet begun. For those who would prefer to buy, The Brooklyn Tower offers 150 condos starting 535 feet high on the 53rd floor. Current availabilities range from studios for $965K to a four-bedroom penthouse for $6.2 million. Not only do the condos enjoy sumptuous interiors by Gachot Studios, but they also overlook far-reaching views of the Manhattan and Brooklyn skylines, New York Harbor, and even the Atlantic Ocean.
Occupancy is anticipated for later this year, at which time residents of the condos and rentals alike will reap the benefits of living in a central Downtown Brooklyn address a stone's throw from Fort Greene Park and within easy access to Brooklyn Bridge Park and Prospect Park. The Brooklyn Tower is also located within excellent proximity to Brooklyn Academy of Music, the retail and culinary offerings of City Point (which include Trader Joe's and Dekalb Market Hall), and a total of 13 subway lines.
Rooftop pool (Gabriel Saunders)
At the same time, The Brooklyn Tower's 120,000+ square feet of indoor and outdoor residential amenities may make leaving the building feel optional. They are managed by Life Time and include:
Outdoor pool wrapped around the bank’s iconic Gustavino dome
Double-height pool lounge with shuffleboard, cocktail bar, and skyline views
Sky Park with basketball court, children’s playground, and what’s been described as “the world’s highest dog run”
Library lounge with coworking space and adjacent conference rooms
Screening room with wet bar
Children’s playroom with pantry and reading nook
Billiards room with bar
Living room lounge
State-of-the-art fitness center with separate studios for cycling, yoga, and barre, and a whirlpool
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