It’s been two years since Cayuga Capital‘s “horizontal addition” to the former St. Mark’s Lutheran School and Evangelical Church in Bushwick topped out, and now the 20 affordable apartments at the site are up for grabs through the city’s housing lottery. The new, seven-story structure, along with the preserved 1890 Victorian Gothic church, and four-story former school building in between, will offer 99 rentals in total and have been dubbed The Saint Marks. The below-market rate units range from an $822/month studio to $1,071/month two-bedrooms, available to individuals earning 60 percent of the area median income.
Cayuga Capital Management
For the renter looking for a balance between Williamsburg‘s old warehouse buildings and its newer luxury development, the Lewis Steel Building beckons. This 83-unit rental was co-developed by Cayuga Capital and Jake Toll, the son of the developer behind Toll Brothers. They transformed a 1930s steel factory into modern apartments while keeping the 13-foot ceilings, exposed beams and factory-sized windows intact. Leasing launched last year and there are now six apartments left, ranging from a $3,117/month one-bedroom to a $5,683/month three-bedroom. And for any renters who pick up the remaining apartments, they’re getting the first month of rent free.