Cypress Hills Affordable Housing Lottery Debuts With $1,052 Two-Bedrooms
Replacing a used-car lot, the mostly market-rate building has a pickleball court and a screening room.
Rendering via The Agora NYC
An affordable housing lottery has opened for a new nine-story, 110-unit development overlooking the J elevated train line on Fulton Street in the Cypress Hills section of East New York. The mostly market-rate building has a list of amenities to rival most any new Brooklyn build — including pickleball and a screening room — and benefits from the 2016 East New York rezoning.
It’s a type of new building that has become routine in areas such as along 4th Avenue, in Downtown Brooklyn, and Williamsburg but is less so here, where many new apartment buildings are more basic or 100 percent affordable. Replacing a used-car lot, the complex at 2667 Fulton Street takes up a good chunk of the block from New Jersey Avenue to Vermont Street, wrapping around the back of five small brick storefront buildings at the corner of Vermont.
Of the 28 one- and two-bedroom apartments in the lottery for 2667 Fulton Street, all income restricted and rent stabilized, 22 could be deemed truly affordable. Those are for families earning 40 to 60 percent of the Area Median Income, with income limits set between $36,069 and $100,620 for households of one to five people, according to the listing.
Six units are one-bedrooms ranging from $907 to $1,437 a month and 16 are two-bedroom apartments from $1,052 to $1,687. As well, there are six one-bedroom units set aside for families earning 130 percent of AMI renting for $3,291 a month.
It’s worth noting that the latter are pricier and smaller than some of the building’s market-rate units. Unregulated two-bedrooms start at $2,800, listings on StreetEasy show.
The development is called the 2667 Fulton Street Apartments on the city’s housing lottery site, but has been dubbed The Agora according to its website. Its apartments range from one-bedrooms to three-bedrooms, the website shows.
According to the lottery listing and building website, units include air conditioning, high-end and energy efficient appliances, hardwood floors, floor-to-ceiling windows, and granite countertops. The building has a gym, yoga studio, pickleball court, screening room, business room, rooftop terrace, bike storage, and car parking. Some amenities come at an additional cost to residents, and residents have to pay for electricity.
According to permits and city records, Nikolai Katz is the architect behind the new building, which is owned by 2667 Fulton LLC. Aron Schwartz is the signatory for the LLC.
Renderings show a blocky, geometric gray and white masonry building with balconies and setbacks. The ground-floor retail space has high ceilings and big windows. The apartment interiors are finished in shades of white and light wood. Splashes of bright yellow and grass green brighten the common spaces.
Katz’ nearby projects at 2777 Atlantic Avenue and 2767 Atlantic Avenue are similarly colored and blocky.
Market rate listings for The Agora on Streeteasy have the aforementioned two-bedroom apartments starting at $2,800 and three-bedroom apartments starting at $3,900. No market-rate one-bedrooms are currently listed.
Schwartz, through his 2667 Fulton LLC, purchased 2667 Fulton Street for $6.2 million in 2022, city records show. As well as covering a substantial portion of the Fulton Street frontage, the site runs partly up the New Jersey Avenue block towards Jamaica Avenue.
Massing diagrams show the development will be nine stories in the section that runs along Fulton Street and cuts behind the five existing buildings on the corner of Vermont Street, and will include an interior courtyard. Along New Jersey Avenue, the building will go from nine stories on the corner of Fulton Street down to a two-story section.
The development site is within the rezoned area of East New York, meaning the new building has to include a percentage of affordable housing through the Mandatory Inclusionary Housing program. It is also expected to get the 421-tax break, the listing states.
The 2667 Fulton Street Apartments lottery closes October 21. To apply, visit the listing on New York City’s Housing Connect website.
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