Permits & development · Owners & management · 10/14/2026
Bed Stuy Lottery Opens at 1832 Fulton Street, Rents From $1,819
The Milano, an 11-story, 213-unit building at 1832 Fulton Street in Bed Stuy, has opened a Housing Connect lottery for 65 rent-stabilized units. Most are for households earning 70 to 80 percent of AMI, with rents from $1,819 to $2,662. Thirteen more units at 130 percent of AMI rent for $2,599 to $2,699. Tenants pay electricity, including heat.
Reported by BrownstonerRead the original ↗
What happened
A housing lottery is open for 65 rent-stabilized apartments at The Milano, 1832 Fulton Street in Bedford-Stuyvesant (formerly 1826 Fulton Street). It is a new 11-story, 213-unit building on a former nursing home parking lot near Atlantic Avenue. Brownstoner reported that the building got its certificate of occupancy on October 6. Market-rate leasing began in August. The lottery closes October 23, and applications go through NYC Housing Connect. Brick Underground says paper applications must be postmarked by that date.
Brownstoner says 52 units are for households of one to five people earning 70 and 80 percent of Area Median Income, or $68,126 to $146,560 a year. These include 10 studios at $1,819 and $2,103, 41 one-bedrooms at $1,936 and $2,240, and one two-bedroom at $2,662. The other 13 units are for households of one to three earning 130 percent of AMI, or $94,869 to $198,510. These are three studios at $2,599 and 10 one-bedrooms at $2,699. Brownstoner notes the $2,599 studio costs more than the cheapest market-rate studio on StreetEasy, which is listed at $2,550.
Brick Underground reported some details differently. It said the lottery includes three-bedroom units. It also listed 23 one-bedrooms at $2,240 for incomes of $83,383 to $122,160. It reported that 20 percent of units are set aside for local residents, 10 percent for NYC employees or veterans, and 5 percent for people with mobility, vision or hearing needs. Applicants should check the Housing Connect listing for the exact unit mix.
The developer is LM Developments. Yisroel Landau, also known as Jacob Landau, is listed as signatory. Landau and Pinches Abowitz got a $52 million construction loan in 2025. The affordable units come from the city's Voluntary Inclusionary Housing policy, and the building also uses the now-expired 421a program. A second building is planned on the parking lot on the other side of the nursing home. Together the two buildings would bring 297 apartments to Fulton Street between Rochester and Buffalo avenues.
Key facts
- Address
- 1832 Fulton Street (formerly 1826 Fulton Street), Bedford-Stuyvesant, Brooklyn
- Units
- 65 rent-stabilized lottery units in a 213-unit, 11-story building
- Rents
- $1,819 to $2,699 a month (studios, one- and two-bedrooms per Brownstoner)
- Income limits
- $68,126 to $198,510 a year, depending on household size and AMI tier (70%, 80%, 130%)
- Deadline
- October 23; apply on NYC Housing Connect
- Developer
- LM Developments; Yisroel (Jacob) Landau listed as signatory
- Programs
- Voluntary Inclusionary Housing and the expired 421a program
- Certificate of occupancy
- October 6
What it means
Tenants and voucher holders
The lowest income floor is $68,126, so these units target moderate and middle incomes, not low-income households. Tenants pay electricity, including heat and cooking. That cost should be added to the rent when budgeting.
Caseworkers
Clients who qualify must apply by October 23 and should apply only once, since duplicate applications can be disqualified. Clients who live nearby, are NYC employees or veterans, or have mobility, vision or hearing needs may fall into a preference group, according to Brick Underground.
Landlords
The 130 percent AMI studios at $2,599 are priced above the building's cheapest listed market-rate studio at $2,550. This suggests upper-tier lottery rents in the area can sit close to or above market.
The highlights
- 65 rent-stabilized units for household incomes of $68,126 to $198,510 a year.
- Applications close October 23 on Housing Connect.
- 130% AMI studios at $2,599 cost more than the cheapest market-rate studio at $2,550.
Why it matters Caseworkers
These units target moderate incomes, not low-income households, so caseworkers should check income limits before referring clients.
What to do: Check the income limits and apply on Housing Connect by October 23.
Not known yet
- Whether the building accepts housing vouchers, and how a voucher affects the minimum income requirement
- The exact boundary used for the local-resident preference
- Whether three-bedroom units are actually in the lottery, since the two outlets differ
- When the second building on Fulton Street will open and how many affordable units it will have
Background
NYC affordable housing lotteries are run through NYC Housing Connect. Applicants submit one application per household before the deadline. Applications are then put in random order and reviewed for eligibility in that order. Households selected for review must document their income, household size and any preference they claim. Units are usually tied to a percentage of Area Median Income. Each unit has both a minimum and a maximum income that varies by household size. Units placed through these lotteries are typically rent stabilized, which caps renewal increases and gives tenants a right to renew.
Also drawn from: Housing lottery launches for 65 rent-stabilized units in Bed-Stuy (Brick Underground)
Summary written by Bulwark from Brownstoner’s reporting. The original story is at brownstoner.com. This is general information, not legal advice.
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