An affordable housing lottery has launched for 36 apartments in a long-in-the-works tower on the corner of 4th Avenue and Dean Street in Park Slope. Dubbed Signum, the glassy, 143-unit mixed-use building will be one of 4th Avenue’s taller developments at 17 stories.
Of the 36 studio, one-, and two-bedroom apartments in the lottery, all income restricted and rent stabilized, 30 could be deemed truly affordable. Those are for families earning 40 to 60% of the Area Median Income, with income limits set between $31,543 and $76,260 for households of one to five people, according to the listing.
Seven units are studios going for $834 and $1,067 a month, and 22 are one-bedroom apartments for $888, $1,138 and $1,388. A two-bedroom unit will rent for $1,051. The remaining apartments in the lottery are for those earning 100 or 130 percent of AMI, including four two-bedrooms priced at $2,852 a month.
Designed by S. Wieder Architect PC, Signum sits on a site that formerly had a two-story commercial building used as one of the borough’s few Medicaid offices. The address of the office was 35 4th Avenue. The new address for the housing will be 375 Dean Street.
While the rendering shows a boxy building in dappled shades, the actual building appears dark gray and somber, going by photos published by New York YIMBY. Boxy protusions and recesses provide visual interest and balconies.
Floor plans for available units on Signum’s website show studios range from 320 to 391 square feet, while available one-bedrooms are between 467 and 828 square feet, and the only listed two-bedroom clocks in at 1,015 square feet.
The apartments include in-unit washer/dryers, air conditioning, dishwashers, and hardwood floors, according to NYC Housing Connect. The building itself has a gym, recreation room, media room, children’s playroom, rooftop terrace, assigned parking spaces, bike storage, and dog washing station.
The new-building permit approved by Department of Buildings says the 17-story building has 96,106 square feet dedicated to housing, and 3,731 to commercial space.
35 Holdings LLC bought the former commercial building in 2014 for $25 million, according to city records. Brooklyn investor Joseph Brunner is the signatory for 35 Holdings LLC on a 2022 $10.47 million mortgage taken out on the property. Joel Weiss of Empire Management is listed as the building’s owner in DOB permit applications.
The building benefits from the 4th Avenue rezoning and requires affordable units under the city’s Mandatory Inclusionary Housing Program. Because construction started on the project long ago, the building will likely qualify for the now-expired 421-a tax exemption program.
The Signum lottery closes January 29. To apply, visit the listing on New York City’s Housing Connect website.
This story first appeared on Brooklyn Paper’s sister site Brownstoner.
