682 Chauncey Street via Alley Property Management 

Sure, you can do a lot with $150 a month, but does that level of savings really constitute as “affordable?” According to the city, yes. The latest housing lottery to come online, reserved for households earning $130 percent of the area median income, is for three $2,450/month two-bedrooms at Bushwick’s 682 Chauncey Street. By comparison, market-rate two-bedroom units in the new, 10-unit building go for $2,599 or $2,650.

What’s the deal?