Nestled in Brooklyn, Bushwick is one of our favorite city’s most vibrant neighborhoods. From its iconic street art and fashion scene to its abundance of local businesses, galleries, restaurants, and so much more, the neighborhood is constantly evolving.
And New York City itself is, of course, no stranger to evolution either. But while the city continues to grow and change, putting down roots here can feel increasingly out of reach, especially when it comes to homeownership. For many New Yorkers, buying a home in one of the five boroughs can seem out of reach, particularly compared to our suburban neighbors.
But a unique opportunity has just hit the market, and it’s worth paying attention to if you’re interested in settling down in the heart of Brooklyn.
For the first time since 2020, an affordable homeownership lottery has opened in the neighborhood, giving eligible New Yorkers a rare chance to buy rather than rent—and at a price that’s considerably more approachable than what you might expect for Brooklyn.
Here’s everything to know about the rare opportunity, including who qualifies, how much the apartments cost, and how to apply before the lottery closes.
What to Know
A new affordable housing lottery is offering 16 newly constructed cooperative homes across two properties in South Bushwick: 1262 Bushwick Avenue and 635 Chauncey Street. These co-ops are intended to be placed on the Interboro Community Land Trust (CLT) to preserve long-term affordability.
The lottery closes on September 3, 2026.
- Key Deadlines: Lottery closes September 3, 2026.
- Homeownership Type: Cooperative (Co-op).
- Purchase Price Range: $219,500 – $459,200
- Monthly Maintenance: $844 – $1,695 (covers heat, hot water, sewer, building insurance, cleaning, and extermination)
- Buyer Upfront Funds: Must have at least 5% of the purchase price in personal funds available for a down payment, plus additional funds for closing costs.
- Key Conditions: Must be a first-time homebuyer and occupy the co-op as a primary residence.
Inside South Bushwick Neighborhood Homes – Cooperatives
The units feature modern finishes designed for comfortable urban living.
- In-Unit Amenities: Dishwasher, washer and dryer hookups/appliances, high-end energy-efficient appliances, and air conditioning.
- Building Features: Pet-friendly policy, storage spaces, accessible entrances, smoke-free environment, and high Walk Scores near public transit (L, J, Z, A, C subway lines and B34 bus route).
- Resident Responsibilities: Buyers cover individual electricity, internet, and cable bills.
Units and Availability
Who Qualifies?
Eligibility is primarily determined by household size and combined annual income.
- Income Eligibility: Household income must fall between $88,666 and $231,440 depending on household size (1 to 7 people) and unit selection.
- Buyer Status: Only first-time homebuyers are eligible.
- Asset Limits: Asset limits apply ranging from $307,775 to $319,760 depending on the specific unit.
- Selection Preferences: General preference goes to New York City residents. Specific set-asides exist for applicants with mobility (5%) or vision/hearing (2%) impairments, alongside preferences for Brooklyn Community Board 4 residents (50%) and Municipal Employees/Military Veterans.
How to Apply
Applications must be submitted before September 3, 2026. Submitting duplicates will result in disqualification.
- Apply Online: Create an account and submit directly via NYC Housing Connect.
- Apply by Mail: Send a self-addressed, stamped envelope to:
- South Bushwick Coops
- 150 Broadway, Suite 2101
- New York, NY 10038
For more information, see the official listing.