Apply for 37 mixed-income apartments at a new Williamsburg rental, from $1,576/month

October 10, 2022

Rendering courtesy of the NYC Department of Housing Preservation and Development

On the site of a former bank and large parking lot, a new 123-unit rental is rising in Williamsburg. Located at 416 Metropolitan Avenue, the eight-story building opened an affordable housing lottery this week for 37 mixed-income apartments. Qualifying New Yorkers earning 80 and 130 percent of the area median income can apply for the apartments, ranging from $1,576/month for studios to $3,733/month for two-bedroom units.

As The Real Deal reported, the corner Brooklyn lot was purchased by an LLC in 2020 for $19,000,000; developers Yoel Hershkowitch and Joseph Banda of Ranco Capital are involved with the project.

Designed by Kutnicki Berstein Architects, 416 Metropolitan Avenue (also known as 8 Marcy Avenue) will be mixed-use, with more than 83,000 square feet set aside for residential use and nearly 6,000 square feet for ground-floor retail, with a wraparound glass frontage.

Apartments boast modern features, including high-end appliances, like a dishwasher, and air-conditioning. For an extra fee, amenities offered include an on-site parking garage, bike storage, shared laundry room, rec room, rooftop, and business center.

Facing the Brooklyn-Queens Expressway, the building sits on the corner of Metropolitan and Marcy Avenues, steps from the bustling neighborhood’s best dining and entertainment hotspots. The G train at Metropolitan Avenue is the closest subway stop, followed by the L at Lorimer Street.

Qualifying New Yorkers can apply for the affordable units until December 12, 2022. Complete details on how to apply are available here. Preference for 50 percent of the units will be given to residents of Brooklyn Community District 1. Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.

If you don’t qualify for the housing lotteries mentioned, visit’s no-fee rentals page for other apartment deals in the city.


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