Atlantic Yards report brings us the first comprehensive look of what rents in modular residential tower B2 will be. Based on 2012 data, keep in mind that they could very well be higher when leasing, and the accepting of applications for the 181 affordable units, actually kick off. Of the affordable housing, 20 percent is for low-income households and 30 percent for middle-income. Per AYR: "The subsidized 2 BR units will range from $648 to $2,740 in rent, with an average of $1.946. And that number's based on 2012 Area Median Income (AMI), which surely will be higher as of 2014." Affordable studios range from $494-$1,810; one-bedrooms from $533 to $2,276. By contrast, the average for market-rate studios is projected to be $2,611, 1BRs are $3,353, and 2BRs are $4,403.
Is the pricing reasonable?
· Average "affordable" 2 BR in first Atlantic Yards tower would rent for $1946 (1 BR: $1161), according to 2012 figures, which should rise; market 2 BR: $4403 [AYR]
· All B2 coverage [Curbed]
· All Atlantic Yards coverage [Curbed]