Own a co-op with beach views starting at just $31K in this affordable housing lottery

If you are looking to buy an affordable home with beach views, you have days to apply to this lottery for Luna Park Housing Corp in Brooklyn. These co-ops are part of the Mitchell-Lama program and give low and middle-income New Yorkers a chance to buy an apartment starting at $31,441. 

Selected New Yorkers will be able to purchase studio, two-bedroom and three-bedroom apartments at prices below market rates. Studios would cost $31,441, two-bedrooms would cost $56,593 and three-bedrooms would cost $69,170. 

The buildings that comprise Luna Park are located just one block from the Coney Island boardwalk, between Neptune and Surf Avenues and 12th Street and Shell Road.. 

These apartments have monthly maintenance fees between $632 and $1,423. These fees pay for things like building upkeep, staff and insurance. All apartments, including those that are market-rate, have monthly maintenance fees.

Understanding Mitchell-Lama co-ops

Luna Park Housing Corp. is part of the Mitchell-Lama program, which subsidizes rentals and co-ops for low to middle-income families. This allows prices to remain affordable. 

Waitlists for these buildings open only once every few years. Waitlist lotteries are posted on the Mitchell-Lama Connect website. 

To learn more about the program, check out this feature, which explains everything you need to know about Mitchell-Lama apartments. 

How to apply

The waiting list for Luna Park reopened in December, but it will close on Monday, Jan. 6 at 11:59 p.m. 

You can apply to the lottery on the city’s Mitchell-Lama Connect website or by mail. The address to apply is in the photo below. If you apply online, you must set up a Mitchell-Lama account. 

As we’ve explained in previous reporting, the Mitchell-Lama website can sometimes be buggy. If you try to apply but receive an error message, try again later. 

What happens after the lottery closes

Winners will be notified online through their Mitchell-Lama account or by mail. If you are selected for the lottery, the co-op will contact you for more information or send you an application. 

Purchases are income restrictive, meaning if you get the chance to buy, your income must fall within a specific range at the time of purchase. However, there are no restrictions on income once a person moves in. 

The current income limits are between $25,280 and $225,125, depending on the size of the unit.

To see more of our housing stories, including other affordable housing lotteries, visit this page.