Eliot Spitzer of Spitzer Enterprise has launched its biggest residential project since the return of the former governor to his family’s company. The massive 420 Kent Avenue complex will hold a total of 857-units and costs approximately $700 million, the RealDeal reports. 420 Kent Avenue is a waterfront building in South Williamsburg designed by ODA’s Earn Chen. 420 Kent Avenue is constructed through the Inclusionary Housing Program. The building is set to receive a Tax Exemption through the 421a Tax Incentive Program of the New York City Department of Housing Preservation and Development. Therefore, 420 Kent Avenue has to set aside 30% of its residential units to affordable housing.
420 Kent has assigned 121 units to the affordable housing lottery! Applicants making as low as 60% of the area’s median income are welcome to apply. In addition to 420 Kent Avenue being a waterfront property, it offers its residents a wide range of amenities. The wide variety of amenities include a lounge area for residents, top of the line gym, on-site laundry and concierge. 420 Kent is conveniently located just a short walk away from major transportation lines like the J, M, & Z subway lines.
Applicants who wish to apply for the affordable housing lottery at 42o Kent Avenue should submit their applications before May 29th, 2019.
Individuals or household who meet the income and household requirements listed in the above chart are welcome to apply. Qualified applicants will be required to meet additional criteria. Applicants who live in NYC will receive a general preference for the apartments.