A new residential development on the Gowanus Canal has launched a housing lottery for 45 mixed-income apartments. Society Brooklyn consists of two 21-story towers with more than 500 apartments and a waterfront esplanade. New Yorkers earning 40, 60, 100, and 130 percent of the area median income can apply for the available units at 504 Sackett Street, priced from $874/month one-bedrooms.
Developed by Property Markets Group and designed by SLCE Architects, Society Brooklyn comprises two 21-story towers spanning 605,000 square feet, with a total of 517 residential units.
Society Brooklyn at Degraw, at 500 Degraw Street, has 173 units, and Society Brooklyn at Sackett has 344 units.
The apartments feature oversized windows, energy-efficient appliances, high-end finishes, smart thermostats, and in-unit washers and dryers.
Amenities include a fitness center, a coworking lounge, a recreation lounge, a rooftop terrace, and an outdoor heated pool. Residents can also enjoy a waterfront park and esplanade, along with features like package lockers, bike storage, and on-site parking.
The building is pet-friendly, allowing up to two pets per apartment, with a maximum weight limit of 75 pounds.
Property Markets Group purchased both properties in 2021 for $9 million and completed construction with the help of $18.5 million in financing from Maxim Capital Group. Construction on the project wrapped up in February, as reported by Yimby.
Nearby public transit options include numerous subway and bus lines, as well as the Long Island Rail Road, accessible via Atlantic Terminal.
Society Brooklyn falls under the Gowanus rezoning, approved by the city in 2021. The rezoning has paved the way for residential development in the once-industrial neighborhood. This includes roughly 8,000 new apartments and sewer upgrades.
Other new developments in Gowanus include the three-part Gowanus Wharf development, which includes Douglass Port, a 15-story building at 251 Douglass Street, and the two-tower Nevins Landing project at 310 and 340 Nevins Street, as 6sqft previously reported.
Qualifying New Yorkers can apply for the apartments until June 9, 2025. Complete details on how to apply are available here. Preference for 20 percent of the units will be given to residents of Brooklyn Community District 6.
Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.
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