Rent Stabilized Lottery

If your combined household income is between $81,258 and $192,400, you could be eligible for a rent stabilized apartment and limit rent increases (aka more money for you!) on a new luxury apartment in Greenpoint along the Brooklyn waterfront.*Restrictions apply

Rent stabilized tenants are protected from market rate rent increases and have more housing security, including protected rights to renew their lease. See FAQ for more information on rent increases.

Overview

Households will be selected through a lottery to lease rent stabilized units that are rent restricted. The lottery is run in cooperation with Brookfield Properties, the NYC Department of Housing Preservation and Development, and the non-profit Settlement Housing Fund, Inc.

Immediate savings

  • Studios $1,437 - $2,653
  • 1 Bedroom $1,542 - $2,838
  • 2 Bedrooms $1,862 - $3,397
  • 3 Bedrooms $2,143 - $3,391

Savings over Time

In addition to units being priced well below market rent, your rent is guaranteed to be stabilized over your entire lease. This means that the longer you stay, the more savings you recognize! Some years, stabilized rents do not increase at all.

Communities with Rent-Stabilized Apartments

The bellslip

Soaring 30 stories above the water, The Bellslip’s residences offer ground-level retail, and a private, landscaped garden. Oversized casement windows flood the interiors with light, and invoke the industrial style language of historic Greenpoint's factories and warehouses.

LOTTERY OPENING SOON

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EAGLE+WEST

Perched above the waters of North Brooklyn at the corner of Eagle and West sits a 30-story tower with a striking, diagonal-cut design. Waterfront views, parkside life, elevated courtyards, and effortless terraces flank essential amenity spaces, creating an inviting community folded into the charming Greenpoint neighborhood.

LOTTERY DATES PENDING

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27 Eagle Street

From a fitness center to oversized windows and designer kitchens, home at 27 Eagle Street is more than just an apartment, it’s a lifestyle. From sunny days on the waterfront to evenings exploring all Greenpoint has to offer, here you can truly have it all.

LOTTERY DATES PENDING

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FAQ

How do I apply?

You can apply in one of two ways.
1. Apply Online:
Application links will be available for the property when the lottery opens. Submit your information above and we’ll notify you when the lottery opens.

2. Request a paper application by mail. Send a self-addressed envelope to:
The Bellslip, Settlement Housing Fund, Inc
247 West 37th Street 19th Floor
New York, NY 10018

Who should apply?

Everyone who is within the income brackets.

  • If your household income and size are within the range on the chart we invite you to submit an application.
  • If your income is above the maximum, visit The Bellslip’s market rate availability.
  • If your income is below the minimum, take a look at NYC Housing Connect to see what housing opportunities you are eligible for.
WHY ARE RENT STABILIZED APARTMENTS SO COVETED?

Rent stabilized tenants are protected from large rent increases and have more housing security including the right to renew their lease. The NYC Rent Guidelines Board sets rent increases for rent stabilized lease renewals each year. The increases are modest and sometimes there is even a rent freeze, which means a 0% increase. For example, for lease renewals that began between October 1, 2019 and September 30, 2020, the rent increase for rent stabilized apartments was 1.5% for 1-year leases and 2.5% for 2-year leases. For lease renewals that begin between October 1, 2020 and September 30, 2021, the Rent Guidelines Board voted for a 0% increase for 1-year leases. The Rent Guidelines Board will vote again in June, 2021 for the next set of increases.

My partner and I make six figures. Can we really qualify for one of these apartments?

Yes. This is a new program offered through NYC Housing Preservation and Development. Middle income families have also been priced out of the market, so this new program was developed to increase housing stability for middle income households. As long as your combined income is within the income range and matching household size stated in the Affordability chart then you have the possibility to qualify. The common rule of thumb is for housing to be affordable, households should spend no more than one-third of their income on rent and utilities. Check out this helpful guide on how to calculate your household income.

What is a household?

A household is everyone who will be living with you in the apartment. If you’re not related (immediate or extended family members), to qualify as a household, the applicants have to show that they are financially interdependent, as indicated by current leases or utility records demonstrating a shared address, or documentation, such as bank accounts that show shared assets.

What are the benefits of the Greenpoint Middle Income Housing Program?

Saving on rent! The apartments have preset, reduced rents that can save you between $16k-$78k on rent depending on unit size every year. In addition to the savings, your apartment will also be rent stabilized, which means that your rent can only increase by a modest amount each year determined by the Rent Guidelines Board.

CAN I TOUR AN APARTMENT?

Contact us to learn more.

Will I have access to all building amenities?

Absolutely, for an additional monthly fee. The Bellslip has excellent amenities including a fitness center with a yoga and cycling studio, furnished indoor residents lounge, test kitchen, quiet co-working space, reservable terrace with grilling areas, pool, storage, Latch keyless entry system, and 24-hour concierge.

How long does the process take?

Once we contact you to process your application, the process is around 6 – 8 weeks. We expect to fill the building within 10 months.

How soon can I move in?

Once you have been contacted, provide the requested documents, appear to be eligible and HPD approves your file, you can sign a lease and move in. The apartments are ready!

How do I calculate my income?

Check out this handy guide that breaks down exactly how to calculate your income.

What happens if I make more money after I move in? Will my rent go up or will I have to leave my apartment?

You can stay in your apartment as long as you wish, provided you abide by the terms of your lease. There are no annual income recertifications, so you only need to qualify for the apartment once. Also, your rent will not be increased based on your income, only based on what the Rent Guidelines Board determines each year.

What documents will I need if I’m selected?

Click here for a complete list of documents.

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