Affordable Housing

Apply to buy a three-family brownstone in Bedford-Stuyvesant for under $1 million

The mixed-use building at 919 Gates Ave. currently has a food pantry operating out of the ground floor.

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Applications are open for a chance to buy a three-family building with a ground-floor storefront in Bedford-Stuyvesant for about $950,000, through a city-sponsored program.

The building is a brownstone at 919 Gates Ave., near Malcolm X Boulevard, fixed up with city funds. It has an apartment on each of the three upper floors, and commercial space facing the street. The storefront is currently home to the Brooklyn Rescue Mission Urban Harvest Center food pantry.

To qualify to purchase, applicants must have a three- to six-person household, and make $95,000-$199,650 a year. Applicants must have assets of no more than $277,525, including a 10 percent down payment of about $95,000. People who own or have previously purchased residential real estate are ineligible, and buyers must use the place as their primary residence if selected.

The building is two blocks from the Gates Avenue J, Z station.

To find out more information in person, go to an information session tonight, Tuesday, May 22nd, 2018, at the Quincy Senior Residences, 625 Quincy St. in Brooklyn, at 6 p.m.

To download an application, click here. To request an application by mail, send a self-addressed envelope to: 919 Gates, c/o The Wavecrest Management Team 87-14 116th Street, Richmond Hill, NY 11418. Applications must be postmarked by June 4th, 2018. Don't apply more than once, or you could be disqualified.

Note: Brick Underground is in no way affiliated with New York City’s Department of Housing Preservation and Development. For more on city-sponsored homeownership opportunities, click here. For more details on this particular lottery, click here. For information about "affordable" rental opportunities, visit NYC Housing Connect.

 

 

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