An opportunity of a lifetime: Middle-income lotto launches on Williamsburg waterfront renting from $1,550/month

By CityRealty Staff | From Future New York Wednesday, January 5, 2022

Images of 266 Kent - One South First via Two Trees Management

Two Trees Management has kicked off an affordable housing lottery at 266 Kent Avenue (aka One South First), a striking waterfront tower part of Williamsburg's Domino Sugar Factory redevelopment plan. The lottery is geared towards middle-income households of one to five persons earning between $55,646 and $167,570 annually. Applicants can apply through the website 266kentlottery.com where a full breakdown of the lottery criteria is presented. The deadline to apply is March 4, 2022, and selected applicants can begin move-ins starting in spring 2022.

The lottery will likely be one of the most sought-after affordable housing opportunities in recent memory, as its 89 below-market-rate units will rent from $1,550/month for studios, $1,651/month for one-bedrooms, and $1,961/month for two-bedrooms. For comparison, Williamsburg's modicum of available apartments has a median asking rent of $3,992, with one-bedrooms coming in at $3,994/month and two-bedrooms for $4,733/month.

As the area's tallest building, homes in the building have panoramic views of New York City

Windowed kitchen

Open kitchen

All homes come with a washer/dryer

Every residence at One South First boasts:

Floor-to-ceiling windows
Solar shades and blackout shades
Bosch washer/dryer
Central air conditioning
Dimmable LED lighting
Caesarstone countertops
Bosch appliances, including dishwasher
Custom bathroom vanities with storage
Walk-in closets in select units
White oak hardwood floors
Keyless electronic apartment access

Confidently soaring 42 stories high, One South First is Williamsburg's tallest building (for now) and bestows incredible views of the East River and New York cityscape to nearly all of its apartments. As with most of the city's mixed-income developments, the affordable units are dispersed throughout the 330-unit building, which currently has just two market-rate apartments available from $3,731/month.

Outdoor swimming pool and deck

The amenities and services found at One South First are spectacular and second to none. However, the lottery website suggests fees are charged to access certain features of the package. The building has an expansive fitness center, business center, children's playroom, and several communal terraces. There is also a residential lounge designed for work and play, an outdoor swimming pool, sundeck, and a grilling area.

The two-tower massing and mixed-use nature of the building is also a rarity in New York, as Two Trees asked the city to approve more slender and porous towers to allow more light and air to penetrate the low-rise neighborhood behind. The building's northern leg hosts 150,000 square feet of office space and the shared base accommodates 15,000 square feet of retail that includes outposts for Roberta’s and Other Half Brewing.

The tower officially opened in September 2019 and was the second ground-up construction in Two Trees' master plan. Its eye-catching design is by COOKFOX Architects whose geometrically-hewn facade was inspired by sugar crystals. The building also incorporates a number of commendable green features that significantly reduce the building’s energy consumption and stormwater runoff.

One South First is situated on an increasingly-vibrant stretch of the Brooklyn waterfront, fronting the gorgeous five-acre Domino Park which weaves in industrial relics from the site's pre-existing sugar factory. Aside from all that Williamsburg has to offer inland, the building is a stone's throw from a New York Ferry launch, Brooklyn Flea, and a newly-opened Trader Joe's market. Among the many developments planned for the waterfront is the renovation of East River State Park, the expansion of Bushwick Inlet Park, and the newly-approved River Ring development that is also spearheaded by Two Trees Management.