Skip to main content

Featured Post

Atlantic Yards/Pacific Park infographics: what's built/what's coming/what's missing, who's responsible, + project FAQ/timeline (pinned post)

Now rent for one market-rate studio at 461 Dean less than most "affordable" studios at 535 Carlton

Ok, remember how I wrote that a market-rate studio at 461 Dean was renting for $2,298, just 7% more than a $2,137 affordable studio at 535 Carlton, another building in the Pacific Park Brooklyn project?

Not any more. That unit is now $2,134, which is less than the sticker price on 36 of 66 studios at the "100% affordable" (aka subsidized and income-linked) 535 Carlton, which should accept tenants early next year.

Yes, I know that affordable units are stabilized for at least 30 years, and thus offer protections over time.

But my point stands: a good (and disproportionate, compared to promises) chunk of so-called "affordable housing" is way too costly for those who rallied for it.

It also raises questions about how easy it will be to get tenants for those 36 (near-/over-market) studios at 535 Carlton (and commensurate studios at 38 Sixth, another "100% affordable" building).
From StreetEasy


  1. Anonymous12:07 PM

    My daughter applied for affordable housing and was rejected because Ratner's company claimed it "never received all the required documents" which I know is untrue. They requested and received; her birth certificate, copy of her social security card, passport, letter from her job, her bank statements and her 401 K. All the stuff they need for identity theft. Affordable housing is a racket at many levels.

    1. Can you clarify... As far as I know, the people responsible for processing affordable housing applications are 1) Mutual Housing Association of New York (MHANY), which is working with the developer, and 2) New York City Housing Development Corporation (NYC HDC).

      Appeals *are* possible after being turned down.

  2. Anonymous10:29 PM

    I was one one of those band 5 people who almost signed for a $2000 K unit until I caused a stink and they gave me a far more desirable studio (that goes for 50% more than I'll be paying for it when market rate). I wouldn't have taken that studio if I had gotten it in retrospect. I suspect they're going to find it very hard to fill those units.


Post a Comment