The affordable housing lottery has officially opened for 532 Neptune Avenue, a newly developed residential complex in Coney Island, Brooklyn. This project, designed by Zproekt Architecture and developed by Cammeby’s International Group and Rybak Development, features a striking combination of two 19-story towers and one 20-story building, all rising from a shared podium. The development comprises 499 residences, with 150 units designated for residents earning up to 130 percent of the area median income (AMI).
Housing Details and Income Requirements
The available apartments are aimed at individuals and families with eligible incomes ranging from $90,275 to $227,500. Specifically, the breakdown of units includes:
- 33 studios at a monthly rent of $2,449 for incomes between $90,275 and $168,480.
- 42 one-bedroom apartments priced at $2,535 for incomes ranging from $95,418 to $189,540.
- 75 two-bedroom units available for $3,495 monthly, catering to those with incomes from $133,166 to $227,500.
Prospective tenants must meet specific income and household size requirements to apply. Applications can be submitted online or postmarked by October 14, 2025.
Amenities and Incentives
Residents of 532 Neptune Avenue will enjoy a variety of amenities designed to enhance their living experience. The complex is pet-friendly and features:
- A dog washing station
- Garage and bike storage
- A shared laundry room
- A gym, spa, yoga, and dance studio
- A playground and community center
- A party room, recreation center, and business center
- A children’s playroom
- A rooftop terrace with outdoor deck barbecue grills and prep kitchen
- Concierge service and an on-site resident manager
To further incentivize new tenants, the complex is offering one month of free rent for a one-year lease or two months free for a two-year lease.
Conclusion
532 Neptune Avenue represents a significant addition to affordable housing options in Brooklyn, providing much-needed residences for families and individuals in the area. With its modern amenities and convenient location, this development aims to create a vibrant community in the heart of Coney Island.
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