Tired of NYC’s astronomical rents? Us too! That’s why NYC Housing Preservation and Development is committed to providing accessible and affordable housing options to New Yorkers through its lotteries. Qualifying New Yorkers can now apply to the open lottery for Paseo on 5th, a.k.a. 120 5th Avenue, through August 25th, 2025.
Units in the new Park Slope development start as low as $654! According to hotpads, average rent for a studio in Park Slope is somewhere above $3,000/month—more than quadruple the price of the lottery studio units!
Find everything you need to know if you qualify and how to apply for the Paseo on 5th affordable housing lottery below.
Eligible income
New Yorkers must make anywhere from $25,166 to $175,000 to be eligible for the Park Slope housing lottery.
Available units
Paseo on 5th has units ranging from studios up to two bedrooms for households of one to five people.
Amenities
- Pedestrian-friendly – Walk Score
- Bus stop/Public transportation access
- Washers and dryers in units
- Dishwasher in unit
- High-end kitchen appliances
- High-end countertops and finishes
- Gymnasium
- Community center
- Party room
- Outdoor areas
- Recreation room
- Children’s playroom
- Outdoor terrace
- Rooftop terrace
- Co-working space
How to apply
Interested New Yorkers can apply online or by mail. To apply online you first must confirm you meet the eligibility requirements. Then you’ll need to make an account or login to NYC Housing Connect. For applications by mail, you’ll need to request an application by sending a self addressed envelope to Paseo on 5th C/O Fifth Avenue Committee, 621 Degraw Street, Brooklyn, NY 11217
Application deadline
The lottery ends on August 25th, 2025.
Application dont’s
Non-compliance could disqualify your application.
- Don’t submit duplicate applications
- Don’t send more than one application per lottery
- Don’t apply online and by paper (choose between the two)
You can find more open affordable housing lotteries with our list here.
