{"id":702071,"date":"2026-04-03T13:42:48","date_gmt":"2026-04-03T13:42:48","guid":{"rendered":"https:\/\/www.europesays.com\/us\/702071\/"},"modified":"2026-04-03T13:42:48","modified_gmt":"2026-04-03T13:42:48","slug":"two-affordable-nyc-co-ops-you-can-buy-for-16k-and-30k","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/702071\/","title":{"rendered":"Two affordable NYC co-ops you can buy for $16K and $30K"},"content":{"rendered":"<p>If buying a home in the city feels out of reach, two Mitchell-Lama co-op lotteries could offer a below-market path to homeownership. Lotteries to get on waiting lists for a one- or two-bedroom apartment in Brooklyn and a studio, one-, two-, or three-bedroom in the Bronx are closing soon.\u00a0<\/p>\n<p>These are opportunities to <a href=\"https:\/\/www.nyc.gov\/assets\/hpd\/downloads\/pdfs\/services\/mitchell-lama-co-op-shareholders-training.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">buy shares in a cooperative<\/a>, which allows people to live in an apartment until they sell their shares back to the co-op for their purchase price. As a <a href=\"https:\/\/epicenter-nyc.com\/how-to-buy-an-apartment-in-nyc-for-less-than-13000-yes-this-is-legit\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">reminder<\/a>, Mitchell-Lama developments are designed to make housing affordable to moderate- and middle-income New Yorkers as well as low-income families. That\u2019s why these lotteries allow for a wider income range than most affordable rental projects.\u00a0<\/p>\n<p>Here\u2019s what to know before the deadlines.\u00a0<\/p>\n<p>BROOKLYN<\/p>\n<p>SHEEPSHEAD BAY \/ HOMECREST<\/p>\n<p><a href=\"https:\/\/www.nyc.gov\/assets\/hpd\/downloads\/pdfs\/services\/highlawnterrace2026ad.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Mitchell-Lama Highlawn Terrace<\/strong><\/a><\/p>\n<p><strong>Applications close:<\/strong> April 6<\/p>\n<p><strong>Address:<\/strong> 225 Ave. T\u00a0<\/p>\n<p><strong>Eligible income:\u00a0<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>$18,080 \u2013 $182,250 for one bedroom<\/li>\n<li>$28,320 \u2013 $202,500 for two bedroom<\/li>\n<\/ul>\n<p><strong>Estimated purchase price:<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li><strong>One bedroom:\u00a0 <\/strong>$30,197 \u2013 $39,395<\/li>\n<\/ul>\n<p>Monthly maintenance: $452 \u2013 $619<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Two bedroom:<\/strong> $42,437 \u2013 $54,702\u00a0<\/li>\n<\/ul>\n<p>Monthly maintenance: $708 \u2013 $790\u00a0<\/p>\n<p><img loading=\"lazy\" data-recalc-dims=\"1\" decoding=\"async\" width=\"2000\" height=\"2436\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/04\/Screenshot-2026-04-01-at-11.14.16-AM-1.png\" alt=\"\" class=\"wp-image-28662\"  \/>Credit: Housing Connect<\/p>\n<p>Lotteries to join the waiting list for this Mitchell-Lama co-op are open for a <a href=\"https:\/\/housingconnect.nyc.gov\/PublicWeb\/details\/7504\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">one-bedroom<\/a> or <a href=\"https:\/\/housingconnect.nyc.gov\/PublicWeb\/details\/7505\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">two-bedroom apartment<\/a> at Highlawn Terrace in southern Brooklyn. The building is accessible by the N, D and F trains.\u00a0<\/p>\n<p><strong>How to apply:<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>Apply online through NYC Housing Connect by April 6.<\/li>\n<li>Apply by mail:<\/li>\n<\/ul>\n<p>Send a post card or envelope by regular mail \u2014 postmarked by April 6 \u2014 to:<\/p>\n<p><strong>Highlawn Terrace, Inc.\u00a0<\/strong><\/p>\n<p><strong>One-Bedroom Lottery\u00a0<\/strong><\/p>\n<p>P.O. Box <strong>99\u00a0<\/strong><\/p>\n<p>New York, NY 10272<\/p>\n<p>OR\u00a0<\/p>\n<p><strong>Highlawn Terrace, Inc.\u00a0<\/strong><\/p>\n<p><strong>Two-Bedroom Lottery\u00a0<\/strong><\/p>\n<p>P.O. Box <strong>124\u00a0<\/strong><\/p>\n<p>New York, NY 10272<\/p>\n<p>THE BRONX<\/p>\n<p>BELMONT\u00a0<\/p>\n<p><img loading=\"lazy\" data-recalc-dims=\"1\" decoding=\"async\" width=\"1024\" height=\"771\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/04\/Dennis-Lane-1.png\" alt=\"\" class=\"wp-image-28656\"  \/>Credit: Housing Connect<\/p>\n<p><a href=\"https:\/\/www.nyc.gov\/assets\/hpd\/downloads\/pdfs\/services\/dennislane2026ad.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Mitchell-Lama Dennis Lane Apartments<\/strong><\/a><\/p>\n<p><strong>Applications close:<\/strong> April 8<\/p>\n<p><strong>Address:<\/strong> 2141 Crotona Ave.<\/p>\n<p><strong>Eligible income:\u00a0<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>$38,400 \u2013 $182,250 for studio<\/li>\n<li>$48,400 \u2013 $182,250 for one bedroom<\/li>\n<li>$58,000 \u2013 $202,500 for two bedroom<\/li>\n<li>$70,000 \u2013 $235,000 for three bedroom<\/li>\n<\/ul>\n<p><strong>Estimated purchase price:<\/strong><\/p>\n<p>Monthly maintenance: $960<\/p>\n<p>Monthly maintenance: $1,210<\/p>\n<p>Monthly maintenance: $1,450<\/p>\n<p>Monthly maintenance: $1,750<\/p>\n<p>Lotteries to join the waiting list for this Mitchell-Lama co-op at Dennis Lane Apartments are open for a <a href=\"https:\/\/housingconnect.nyc.gov\/PublicWeb\/details\/7500\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">studio<\/a>, <a href=\"https:\/\/housingconnect.nyc.gov\/PublicWeb\/details\/7501\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">one-bedroom<\/a>, <a href=\"https:\/\/housingconnect.nyc.gov\/PublicWeb\/details\/7502\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">two-bedroom<\/a> or <a href=\"https:\/\/housingconnect.nyc.gov\/PublicWeb\/details\/7503\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">three-bedroom apartment<\/a> in Belmont in the Bronx.\u00a0<\/p>\n<p>The building is a few steps from the Belmont playground, a few blocks from Belmont\u2019s famous restaurants, food shops and market, a short walk from the Bronx Zoo and one mile from the New York Botanical Garden. It\u2019s accessible by the 2, 5, B and D trains.<\/p>\n<p>While 300 people will be drawn from all other waiting list lotteries, only 100 people will be selected for the three-bedroom waiting list.\u00a0<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"985\" height=\"1024\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/04\/1775223768_41_image.png\" alt=\"\" class=\"wp-image-28649\"  \/><\/p>\n<p><strong>How to apply:<\/strong><\/p>\n<p>Send a post card or envelope by regular mail \u2014 postmarked by April 8 \u2014 to:<\/p>\n<p>DENNIS LANE APTS\u00a0<\/p>\n<p><strong>Studio Lottery\u00a0<\/strong><\/p>\n<p>P.O. Box <strong>129\u00a0<\/strong><\/p>\n<p>New York, NY 10272\u00a0<\/p>\n<p>OR<\/p>\n<p>DENNIS LANE APTS\u00a0<\/p>\n<p><strong>One Bedroom Lottery\u00a0<\/strong><\/p>\n<p>P.O. Box <strong>132\u00a0<\/strong><\/p>\n<p>New York, NY 10272\u00a0<\/p>\n<p>OR<\/p>\n<p>DENNIS LANE APTS\u00a0<\/p>\n<p><strong>Two Bedroom Lottery\u00a0<\/strong><\/p>\n<p>P.O. Box <strong>133<\/strong>\u00a0<\/p>\n<p>New York, NY 10272\u00a0<\/p>\n<p>OR<\/p>\n<p>DENNIS LANE APTS\u00a0<\/p>\n<p><strong>Three Bedroom Lottery\u00a0<\/strong><\/p>\n<p>P.O. Box <strong>138\u00a0<\/strong><\/p>\n<p>New York, NY 10272\u00a0<\/p>\n<p><strong>\u2014<\/strong><\/p>\n<p>To apply to any of the Bronx or Brooklyn Mitchell-Lama co-op lotteries, you must:<\/p>\n<ul class=\"wp-block-list\">\n<li>Be a New York State resident<\/li>\n<li>Be at least 18 years old<\/li>\n<li>Be financially responsible (as shown by documentation such as your tax returns, bank statements and credit scores)<\/li>\n<li>Not be a current shareholder in a Mitchell-Lama development<\/li>\n<li>Submit only one application (either online or by mail)\u00a0<\/li>\n<\/ul>\n<p>Duplicate applications will automatically disqualify you. Applicants without the correct household composition will also be disqualified. Preference is given to eligible veterans selected in the lottery.<\/p>\n<p>When you apply by mail, include your:<\/p>\n<ul class=\"wp-block-list\">\n<li>full name<\/li>\n<li>current address<\/li>\n<li>date of birth<\/li>\n<li>bedroom size lottery you are applying for<\/li>\n<\/ul>\n<p>Registered and certified mail will not be accepted.<\/p>\n<p>If you\u2019re selected in the lottery and would like to proceed, you must pay a $75 nonrefundable application fee.\u00a0<\/p>\n<p><a href=\"https:\/\/epicenter-nyc.com\/category\/housing\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Read more of our affordable housing coverage<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"If buying a home in the city feels out of reach, two Mitchell-Lama co-op lotteries could offer a&hellip;\n","protected":false},"author":3,"featured_media":702072,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5122],"tags":[852,5229,56659,1121,293210,16654,184348,405,403,5226,5225,5228,5227,54016,5305,67,586,132,5230,68,2969],"class_list":["post-702071","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-affordable-housing","tag-america","tag-belmont","tag-brooklyn","tag-housing-connect","tag-housing-lottery","tag-mitchell-lama","tag-new-york","tag-new-york-city","tag-newyork","tag-newyorkcity","tag-ny","tag-nyc","tag-sheepshead-bay","tag-the-bronx","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116341070184138653","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/702071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=702071"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/702071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/702072"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=702071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=702071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=702071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}