Owners & management · Deals & development · 11/03/2026
Clinton Hill Lottery Opens for 4 Rent-Stabilized Units From $1,656
A housing lottery is open for four affordable units at 486 Clinton Avenue (also 899 Fulton Street), a new six-story, 17-unit building in Clinton Hill. Rents are $1,656 for one one-bedroom and $1,894 for three two-bedrooms, all rent stabilized, for households at 60 percent of AMI. The units come from the 485x tax break and the City of Yes UAP program.
Reported by BrownstonerRead the original ↗
What happened
Brownstoner reported on 11/03/2026 that an affordable housing lottery has opened for 486 Clinton Avenue Apartments, a new six-story, 17-unit building at the corner of Fulton Street and Clinton Avenue in Clinton Hill, Brooklyn. The building is also addressed as 899 Fulton Street. The lottery covers four units: one one-bedroom at $1,656 a month and three two-bedrooms at $1,894 a month. All are rent stabilized and subject to income limits.
According to the listing cited by Brownstoner, the units are for households earning 60 percent of Area Median Income, or $65,418 to $109,920 a year for households of one to five people. The affordable units exist because the developer used city tax exemptions through the 485x program and the City of Yes Universal Affordability Preference Program. Brownstoner compared the rents with a typical Clinton Hill market-rate two-bedroom, which it put at about $6,720 a month based on StreetEasy.
Tenants pay for electricity, which covers the stove, heat and hot water. The building is smoke-free and allows one pet per apartment up to 35 pounds. Units include dishwashers, washers and dryers, stainless steel appliances and hardwood floors, and some have private balconies. Market-rate units in the building were listed starting in June, and StreetEasy currently shows none available.
Clinton Garden Partners LLC bought the site in 2022 for $6.5 million, according to city records cited by Brownstoner. Moses Karpen of Waterfront Property Management signed for the LLC. A filing to convert the old two-story building into a six-story apartment building was made in 2022, and the permit was issued in 2024. Studio Gallos designed the building, which received its certificate of occupancy on 10/16/2026. It replaced an early 1900s Renaissance-Romanesque Revival row of stores whose upstairs hall once housed a gambling den, the Colored Republican Club, the Colored branch of the YMCA and the Colored Democratic Club. The lottery closes on 11/10/2026, and applications are made through NYC Housing Connect.
Key facts
- Address
- 486 Clinton Avenue, also 899 Fulton Street, Clinton Hill, Brooklyn
- Building
- Six stories, 17 units; 4 units in the lottery
- Rents
- 1 one-bedroom at $1,656/month; 3 two-bedrooms at $1,894/month
- Income limits
- 60% of AMI, $65,418 to $109,920 a year for households of one to five
- Tax programs
- 485x and City of Yes Universal Affordability Preference Program
- Developer
- Clinton Garden Partners LLC (Moses Karpen, Waterfront Property Management); designed by Studio Gallos
- Utilities
- Tenant pays electricity, which covers stove, heat and hot water
- Deadline
- Lottery closes 11/10/2026; apply on NYC Housing Connect
What it means
Tenants and voucher holders
These are rent-stabilized units well below the area's market rents, but applicants must meet the stated income range of $65,418 to $109,920. Applications must be submitted on Housing Connect by 11/10/2026. Because heat and hot water run on electricity paid by the tenant, households should budget for that cost on top of rent.
Caseworkers
The application window is short, so clients who fit the 60% AMI band and household sizes of one to five should apply before 11/10/2026. The listing material reviewed here does not say how vouchers or rental subsidies are treated against the minimum income.
Landlords
This project shows how 485x and the City of Yes Universal Affordability Preference Program are producing small batches of rent-stabilized affordable units inside new market-rate buildings. Owners weighing new construction should expect these units to carry income limits and rent stabilization.
The highlights
- Three two-bedrooms rent for $1,894 a month; one one-bedroom is $1,656.
- Income limits run $65,418 to $109,920 for households of one to five (60% AMI).
- Applications close 11/10/2026 on Housing Connect.
Why it matters
Rent-stabilized units at $1,656 to $1,894 in Clinton Hill, where market two-bedrooms run near $6,720, are worth flagging for eligible clients.
What to do: Apply on Housing Connect by 11/10/2026.
Not known yet
- Whether applicants with housing vouchers or rental subsidies can qualify below the stated minimum income
- The exact household-size and income ranges for each unit type
- Whether any lottery preferences or set-asides apply, such as for local residents or people with disabilities
- Whether a utility allowance applies, given that tenants pay for electric heat and hot water
Background
In NYC, many new buildings that receive city tax benefits or zoning bonuses must rent some apartments at below-market rents to households within set income ranges. These apartments are usually filled through lotteries on NYC Housing Connect. Applicants submit one application per lottery before the deadline. Applications are then randomly ordered, and those selected are screened for income, household size and other eligibility rules before being offered a unit. Units created this way are typically rent stabilized.
Buildings in this story
- 899 Fulton Street · building facts and open city records
Summary written by Bulwark from Brownstoner’s reporting. The original story is at brownstoner.com. This is general information, not legal advice.
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Photo: Andre Carrotflower, CC BY-SA 4.0