Housing Opportunity

You can own your own home at The Gates Cooperative, a newly-constructed beautiful brick cooperative building with spacious 1-bedroom and 2-bedroom units that feature over-sized windows, abundant closet space, hardwood floors, and energy efficient appliances. Building includes laundry and storage rooms, recreational facilities and on-site parking. Close to subways, buses, shopping, and schools.

Maximum household income is $84,187. There is no minimum household income, but we estimate the lower range of acceptable incomes to be around $56,000/year to qualify for a 2-bedroom unit mortgage and a minimum of around $50,000 for a 1-bedroom unit mortgage. Household income is calculated based on current pay stubs (includes any bonuses, overtime, child support, interest payments, etc.), and includes all members, regardless of who in the household may be on the Cooperative mortgage.

Additionally, maximum assets for each household cannot exceed $52,749 for the 1-bedroom and $58,538 for the 2-bedroom unit. (This asset cap does not include money household may have in 401K or other retirements accounts.)

Those interested in submitting an application should download one from the website www.thegatescoop.org, or call (718) 522-2613 x15. Applications will be considered on a rolling basis so please hurry!! No broker's fee.
Income requirement

Housing Opportunity

From Pratt

If you haven't yet applied for the Atlantic Terrace, keep in mind that applications must be postmarked no later than January, 6, 2010! Don't miss out on this opportunity, apply today!

Fifth Avenue Committee (FAC) is developing an 80-unit, mixed income, affordable cooperative in Fort Greene at South Oxford Street at the corner of Atlantic Avenue in partnership with NYC HDC and NYC HPD.

In marketing the co-op, preference will be given first to New York City residents and then to New York State residents. In addition, preference will be given to residents of Community Board 2 (for 50% of the units), eligible municipal employees of the City of New York (for 5% of the units), households that include persons with mobility impairment (for 5% of the units), and households that include persons with a visual/and or hearing impairment (for 2% of the units). Atlantic Terrace will target households with incomes between $35,194/year to $115,830/year (please see income guidelines below).

This contemporary 10-story building features sustainable materials, highly energy efficient heating and air conditioning, and abundant natural light as part of an overall environmentally-conscious design. Many materials used in construction were made right here in Brooklyn, hence, lowering the carbon footprint of the development. The co-op is a great opportunity for neighborhood residents, especially at a time that real estate prices are beyond most Brooklynites' reach. See chart below for estimated sales prices, number of bedrooms, household size, and income ranges.

Check out the Atlantic Terrace web site to get more info including amenities and floor plans
and to obtain an application of interest:

web
www.atlanticterraceliving.com
or
DOWNLOAD APPLICATION

in person:
at Fifth Avenue Committee's office
621 Degraw Street in Park Slope Brooklyn, 11217

by mail:
send a business sized self addressed stamped envelope to Fifth Avenue Committee's office.
www.fifthave.org

or in person @ PACC's offices:
1224 Bedford Avenue | 201 Dekalb Avenue | 900 Fulton Street
www.prattarea.org