East New York Affordable Housing Lottery Opens

An affordable housing lottery has launched for a brand-new eight-story building on Fulton Street in East New York—a corner lot that sat empty for decades but now holds 51 apartments. The property sits at Fulton Street and Van Siclen Avenue, an area rezoned in 2016 that has since seen a rush of new construction.

Rent-Stabilized Units for Low- and Middle-Income Families

The lottery for the 2795 Fulton Street Apartments includes 13 one-, two-, and three-bedroom units. All are rent stabilized and income restricted, targeted to households earning between 40, 60, and 80 percent of the Area Median Income. That translates to annual incomes ranging from $51,018 to $160,720 for households of one to seven people, according to city listings.

Prices range from $1,099 for some two-bedrooms to $2,823 for larger three-bedroom apartments. A one-bedroom unit is available for $1,556 a month, while two-bedrooms are priced at $1,099, $1,798, and $2,497. Three-bedrooms go for $2,015 and $2,823.

Building Features and Design

The project was designed by Nikolai Katz Architect and developed by 2795 Fulton St LLC. Residents will have access to a shared laundry room and an outdoor terrace. Apartments come with air conditioning and energy-efficient appliances, but tenants are responsible for electricity, which covers the stove, heat, and hot water. The building allows one pet up to 25 pounds.

Renderings show a modern facade in dark grey with lighter grey accents. The building steps down to three stories along Van Siclen Avenue to match the neighboring homes and sets back at the sixth floor. On the ground level, floor-to-ceiling glass windows open onto Fulton Street for commercial use.

From Vacant Lot to Affordable Housing

The site’s history goes back decades. A tax photo from the 1940s shows mixed-use brick buildings once stood here, but the corner remained vacant for years despite development applications dating back to 1992.

Investor Itzchak Zivari bought the lot in 2011 for $425,000 before selling it in 2022 for $2.62 million to the current owners, including Joel Schwartz and Yisroel Greenfeld, according to city records. The building received its certificate of occupancy in August.

The project was made possible through the 2016 East New York rezoning under the city’s Neighborhood Plan, which allows for larger and taller developments. As a result, the building had to include affordable housing under the Mandatory Inclusionary Housing program. It is also expected to benefit from the 421-a tax break.

How to Apply

The affordable housing lottery for the 2795 Fulton Street Apartments is open until October 6. Interested applicants can apply through New York City’s Housing Connect website.

Author Profile

Saleem Mubarak: Saleem Mubarak is a journalist and real estate writer who covers Houston’s evolving property market with a sharp eye for local trends and investor dynamics. He focuses on how shifting prices, interest rates, and migration patterns shape the city’s real estate future.

He has interviewed leading real estate professionals to bring readers first-hand insights into Houston’s changing market—from rising investor activity to the influence of social media on property buying.