If buying a home in the city feels out of reach, two Mitchell-Lama co-op lotteries could offer a below-market path to homeownership. Lotteries to get on waiting lists for a one- or two-bedroom apartment in Brooklyn and a studio, one-, two-, or three-bedroom in the Bronx are closing soon.
These are opportunities to buy shares in a cooperative, which allows people to live in an apartment until they sell their shares back to the co-op for their purchase price. As a reminder, Mitchell-Lama developments are designed to make housing affordable to moderate- and middle-income New Yorkers as well as low-income families. That’s why these lotteries allow for a wider income range than most affordable rental projects.
Here’s what to know before the deadlines.
BROOKLYN
SHEEPSHEAD BAY / HOMECREST
Mitchell-Lama Highlawn Terrace
Applications close: April 6
Address: 225 Ave. T
Eligible income:
- $18,080 – $182,250 for one bedroom
- $28,320 – $202,500 for two bedroom
Estimated purchase price:
- One bedroom: $30,197 – $39,395
Monthly maintenance: $452 – $619
- Two bedroom: $42,437 – $54,702
Monthly maintenance: $708 – $790
Lotteries to join the waiting list for this Mitchell-Lama co-op are open for a one-bedroom or two-bedroom apartment at Highlawn Terrace in southern Brooklyn. The building is accessible by the N, D and F trains.
How to apply:
- Apply online through NYC Housing Connect by April 6.
- Apply by mail:
Send a post card or envelope by regular mail — postmarked by April 6 — to:
Highlawn Terrace, Inc.
One-Bedroom Lottery
P.O. Box 99
New York, NY 10272
OR
Highlawn Terrace, Inc.
Two-Bedroom Lottery
P.O. Box 124
New York, NY 10272
THE BRONX
BELMONT
Mitchell-Lama Dennis Lane Apartments
Applications close: April 8
Address: 2141 Crotona Ave.
Eligible income:
- $38,400 – $182,250 for studio
- $48,400 – $182,250 for one bedroom
- $58,000 – $202,500 for two bedroom
- $70,000 – $235,000 for three bedroom
Estimated purchase price:
- Studio: $15,745
Monthly maintenance: $960
- One bedroom: $20,201
Monthly maintenance: $1,210
- Two bedroom: $24,656
Monthly maintenance: $1,450
- Three bedroom: $31,329
Monthly maintenance: $1,750
Lotteries to join the waiting list for this Mitchell-Lama co-op at Dennis Lane Apartments are open for a studio, one-bedroom, two-bedroom or three-bedroom apartment in Belmont in the Bronx.
The building is a few steps from the Belmont playground, a few blocks from Belmont’s famous restaurants, food shops and market, a short walk from the Bronx Zoo and one mile from the New York Botanical Garden. It’s accessible by the 2, 5, B and D trains.
While 300 people will be drawn from all other waiting list lotteries, only 100 people will be selected for the three-bedroom waiting list.
How to apply:
- Apply online through NYC Housing Connect by April 8.
- Apply by mail:
Send a post card or envelope by regular mail — postmarked by April 8 — to:
DENNIS LANE APTS
Studio Lottery
P.O. Box 129
New York, NY 10272
OR
DENNIS LANE APTS
One Bedroom Lottery
P.O. Box 132
New York, NY 10272
OR
DENNIS LANE APTS
Two Bedroom Lottery
P.O. Box 133
New York, NY 10272
OR
DENNIS LANE APTS
Three Bedroom Lottery
P.O. Box 138
New York, NY 10272
—
To apply to any of the Bronx or Brooklyn Mitchell-Lama co-op lotteries, you must:
- Be a New York State resident
- Be at least 18 years old
- Be financially responsible (as shown by documentation such as your tax returns, bank statements and credit scores)
- Not be a current shareholder in a Mitchell-Lama development
- Submit only one application (either online or by mail)
Duplicate applications will automatically disqualify you. Applicants without the correct household composition will also be disqualified. Preference is given to eligible veterans selected in the lottery.
When you apply by mail, include your:
- full name
- current address
- date of birth
- bedroom size lottery you are applying for
Registered and certified mail will not be accepted.
If you’re selected in the lottery and would like to proceed, you must pay a $75 nonrefundable application fee.
