Crown Heights' Prosper Brooklyn: 65 Affordable Apartments at 1042 Atlantic Avenue, From $844 a Month

Published October 18, 202626 min readBy VoucherMatch Editorial Team

Quick answerProsper Brooklyn has 259 apartments in 19 stories at 1042 Atlantic Avenue in Crown Heights, Brooklyn. Its first certificate of occupancy is dated September 15, 2025. NYC Housing Connect advertised 65 apartments, from $844 for a studio to $3,250 for a two-bedroom, with applications due April 13, 2026. No lottery for it was open on October 17, 2026. Voucher holders do not need the minimum income. Five of the seven rents are under the 2026 CityFHEPS maximum. Tenants pay for electricity, including heat and hot water.

Last checked: October 17, 2026, against the Housing Connect listing for lottery 7403 and Housing Connect's open-lottery search, the Housing Connect FAQ and the CityFHEPS payment standards in DSS-8r (effective April 1, 2026). Read October 8, 2026: the leasing site prosperbrooklyn.com and its fee guide, Reside New York's page for the building, EMP Capital's page, Department of Buildings job B00715375 and certificates of occupancy 3429784-0000001 to 3429784-0000007, HPD's Affordable Housing Production by Building data, city property records (ACRIS) for Brooklyn block 1125, lot 29, City Planning's records of the 2022 rezoning and the 2024 and 2026 supermarket applications, the City Planning Commission's report of February 16, 2022, City Council Resolution 144 of 2022, HPD's pages on Inclusionary Housing and 421-a, City Planning's pages on City of Yes and the Atlantic Avenue Mixed-Use Plan, Walker & Dunlop's announcement of March 18, 2024, Fifth Avenue Committee's description of 1001 Pacific Street, reports by City Limits, Brooklyn Paper, New York YIMBY, Commercial Observer and the New York Real Estate Journal, HPD's guide Applying for Affordable Housing, HPD's re-rentals page and HDC's re-rental search. How VoucherMatch reports these guides and corrects errors: how we report.

Prosper Brooklyn in numbers

259apartments in the building, on city permits
65apartments advertised on Housing Connect
49of the 65 at 40% AMI
$844the lowest rent, for a studio at 40% AMI
$3,250the highest rent, for a two-bedroom at 130% AMI
September 15, 2025first certificate of occupancy issued

Words used in this report

Area median income (AMI)The middle income for the area, adjusted for household size. A lottery apartment "at 60% AMI" is for households earning up to about 60% of it. The agency's income chart turns each level into dollar limits.
Minimum incomeThe lowest yearly income the listing accepts for an apartment, so the rent is not too large a share of income. Housing Connect does not apply it to households with a voucher or rental subsidy.
Lottery (NYC Housing Connect)Every complete application gets a random log number. The marketing agent works through applications in log-number order within each preference group, so applying early does not help.
Marketing agentThe company the building hires to run its lottery and check applicants' papers.
Certificate of occupancyThe Department of Buildings' sign-off that a building, or part of it, can be lived in.
Housing Choice Voucher (Section 8)Rental help run by a housing authority. You find a home, and the agency checks the unit, rent and your household before it approves payment.
CityFHEPS (the City Fighting Homelessness and Eviction Prevention Supplement)a City-funded rent supplement that the Department of Social Services (DSS) pays straight to the landlord.
Payment standard (the CityFHEPS maximum in this report)An amount the agency uses to work out housing assistance for a unit size and area. It does not mean that any home at that rent will be approved.
Utility allowanceThe agency's estimate of the cost of utilities you must pay. It is not a promise to pay your actual bills.
FMR and SAFMRHUD rent estimates for an area (Fair Market Rent) or ZIP code (Small Area Fair Market Rent). They include rent and most tenant-paid utilities. Your agency may use a different payment standard.

Rendering at dusk of a tall apartment tower with a dark grid of large lit windows, rounded corners, a planted setback above a brick base with balconies and two stacks of curved balconies near the top, standing beside a lower slab-shaped wing of about nine stories, with street trees, a streetlight, a low white building and an older brick building in front — Rendering of 1034-1042 Atlantic Avenue, now Prosper Brooklyn, from the cover sheet of the plan set filed with the Department of City Planning for the 2026 application. It shows a taller tower and a lower wing; the sheet does not label them. Photo: Issac & Stern Architects, P.C., for EMP Capital, architect's rendering in a city planning filing, via NYC Department of City Planning, Zoning Application Portal, project 2025K0388 (1034-1042 Atlantic Ave FRESH Pt. 2), plan set cover sheet FR-001 (cropped, reduced).

What Was Built at 1042 Atlantic Avenue

Prosper Brooklyn is a 19-story, 200-foot tower on Atlantic Avenue joined to a nine-story wing on Pacific Street. The developer, EMP Capital, put 259 apartments above a supermarket space.

Size: Department of Buildings job B00715375 is for a 19-story new building, 200 feet tall. It lists 259 apartments and 245,501 square feet of floor area. The owner's December 2025 filing with City Planning puts the Pacific Street wing at "9-story (90 ft. tall)".
Before construction: the City Planning Commission's 2022 report describes "a vacant one-story warehouse" and "a vacant two-story warehouse".

Role	Name	Where it is recorded
Owner	EMP Atlantic Property Owner LP	City property records
Developer	EMP Capital	"Developed By" on the leasing site's floor plans
Architect	Issac & Stern Architects	The permit applicant, Ralph Kowalcyzk, a registered architect
Builder	Countywide Builders Inc.	Building permits
Market-rate leasing	M.N.S Real Estate NYC	"Exclusive Marketing & Leasing" on the floor plans
Lottery marketing	Reside New York	The listing's paper application address
Supermarket	CTown Supermarkets, 8,400 square feet	Commercial Observer, September 10, 2026

What it means: the owner's December 2025 filing names Fine Fare Supermarket for a food store of 8,379.20 square feet, so two supermarket names are in print.

Source: ACRIS; prosperbrooklyn.com; Department of Buildings job B00715375; the Housing Connect listing; Commercial Observer.

Watch outone building has several names and addresses. Housing Connect calls it "Prosper Brooklyn" at 1042 Atlantic Avenue, and the leasing site calls it "Prosper". City Planning uses 1034-1042 Atlantic Avenue. The city's tax lot data uses 1034 Atlantic Avenue, and property records also carry 1035 Pacific Street. All are Brooklyn block 1125, lot 29.

Two renderings side by side of a tall apartment building with a grid of pale masonry and large windows, rounded corners, planted setbacks and stacked curved balconies: at left the whole building seen from a wide street with trees, cars and glazed ground-floor storefronts; at right a closer view from above of the upper floors, with terraces, railings and low-rise blocks beyond — Two renderings of Prosper Brooklyn from the Housing Connect listing: the tower from the street, and its upper floors. Photo: NYC Housing Connect listing for lottery 7403, lottery listing renderings, via NYC Housing Connect, Prosper Brooklyn (lottery 7403) (two renderings placed side by side, each cropped and reduced).

1042 Atlantic Avenue, from rezoning to lottery

April 14, 2022the new building application is filed.
April 28, 2022the City Council adopts the rezoning, with changes.
December 22, 2023three mortgages totaling $106,500,000 are signed.
March 13, 2024the new building permit is issued.
September 25, 2024the City Planning Commission authorizes an 18th story.
September 15, 2025the first certificate of occupancy, for 259 apartments, is issued.
April 13, 2026lottery applications are due.
April 15, 2026the Commission authorizes a 19th story.

What it means: permit to first certificate of occupancy took 18 months. Six more certificates followed, the latest on September 2, 2026.

Source: Department of City Planning records; ACRIS; Department of Buildings job B00715375; the Housing Connect listing.

Source	Stories	Apartments
Building permit as amended and the December 2025 filing	19	259
Seven certificates of occupancy and HPD's data	not given	259
Department of Buildings filing approved November 27, 2024	18	247
Walker & Dunlop (2024) and EMP Capital's page	not given	247
The city's tax lot data	17	237
Commercial Observer, September 2026	19	237
New York YIMBY, February and June 2026	17	193

What it means: the permit, the certificates of occupancy and HPD's data agree on 259 apartments.

Source: the records and reports named in each row.

How 1042 Atlantic Avenue Went From 17 Stories to 19

Three approvals set the building's size. A 2022 rezoning allowed 17 stories, a 2024 supermarket approval added an 18th, and a 2026 approval added a 19th.

Approval	Date	What the record describes	Community Board 8
Rezoning from M1-1 to C6-3A and R7A/C2-4 (C 210386 ZMK)	April 28, 2022	17 stories, 210 apartments, 52 to 63 affordable	22 to 10, 3 abstaining, to disapprove with conditions
FRESH supermarket certification and height authorization (N 240379 ZAK)	September 25, 2024	18 stories, 247 apartments, 47 affordable	22 to 10 to approve with conditions
Atlantic Avenue Mixed-Use Plan	May 28, 2025	the lot is remapped C6-3A and M1-2A/R6A	not a vote on this building
Second height authorization (N 260005 ZAK)	April 15, 2026	19 stories, 259 apartments	22 to 2 in favor

What it means: the filing says FRESH "permits property owners the right to construct additional residential floor area if they provide a FRESH supermarket."

Source: City Planning Commission report C 210386 ZMK; City Council Resolution 144 of 2022; City Planning's records of the 2024 and 2026 applications.

Architect's section drawing through a block from Atlantic Avenue at left to Pacific Street at right: a tall grey tower with floor lines labelled cellar through nineteenth floor, a red outline marked Fresh Food Store on its first floor and the nineteenth floor cross-hatched, joined by a low base to a shorter block with floors labelled first through ninth, with height dimensions and a round City Planning Commission approval stamp at lower right — Section drawing FR-301 by Issac & Stern Architects, from the plan set the City Planning Commission approved on April 15, 2026: the 19-story tower on Atlantic Avenue at left, with the supermarket outlined in red and the 19th floor hatched, and the nine-story wing on Pacific Street at right. Photo: Issac & Stern Architects, P.C., for EMP Capital, architect's drawing in a city planning filing, via NYC Department of City Planning, Zoning Application Portal, project 2025K0388 (1034-1042 Atlantic Ave FRESH Pt. 2), drawing FR-301, Waiver Section (cropped, reduced).

The three program names in the listing

Inclusionary HousingHPD says the program "requires a share of new housing in medium- and high-density areas that are rezoned" to be "permanently affordable". Resolution 144 mapped this block with "MIH Program Option 1" and the "Deep Affordability Option".
421aa property tax break the listing calls "anticipated". HPD's Option A reads "25% of the units must be affordable: at least 10% at up to 40% of AMI, 10% at up to 60% of AMI, and 5% at up to 130% of AMI".
City of Yesa zoning change "adopted by the City Council on December 5, 2024", City Planning says. Its record of the 2026 application says the owner sought "a 19th story in light of the as-of-right height increase permitted by City of Yes."

Key pointthe lottery's 65 apartments are 25.1% of the 259, by VoucherMatch's arithmetic. That is 18.9% at 40% AMI, 1.2% at 60% and 5.0% at 130%. No document opened says which options the owner chose.

35% in 2022, 25.1% in the lottery

April 2022Brooklyn Paper reported "both companies had agreed to 35 percent affordable units" here and at 870-888 Atlantic Avenue, rezoned the same day.
February 10, 2025City Limits reported that "the signatories modified the agreements". Property records hold an agreement of that date. It is between the owner, Pratt Area Community Council, IMPACCT Brooklyn and Fifth Avenue Committee.
Fifth Avenue Committee's account"Developer EMP Capital has fulfilled an obligation to provide a 35% affordable unit share in two new construction buildings on Atlantic Avenue by donating the 1001 Pacific Street site."

Where 1042 Atlantic Avenue Is

The building is on the south side of Atlantic Avenue, between Grand and Classon avenues. It runs through to Pacific Street. It is in ZIP code 11238, Brooklyn Community District 8 and City Council District 35.

Station	Lines	Straight-line distance
Franklin Av	C	about 0.2 miles
Franklin Av	Franklin Avenue Shuttle	about 0.2 miles
Park Pl	Franklin Avenue Shuttle	about 0.4 miles
Clinton-Washington Avs	C	about 0.4 miles
Nostrand Av	A, C	about 0.5 miles
Classon Av	G	about 0.6 miles
Eastern Pkwy-Brooklyn Museum	2, 3	about 0.6 miles

What it means: the C train and the shuttle are about 0.2 miles away.

Source: the MTA's station data; straight-line distances calculated by VoucherMatch from the building's coordinates in Department of Buildings records, so the walk is longer.

Three neighborhood names are in print. City Planning, the Department of Buildings and the city's address search say Crown Heights. The leasing site says "in the heart of Prospect Heights". The leasing agent's announcement says "in Clinton Hill".
Apartments in the area: see voucher apartments in Crown Heights, Prospect Heights and Bedford-Stuyvesant, and apartments along the C train.

259 Apartments: 65 on Housing Connect, 194 Outside the Lottery

The lottery covered 65 of the 259 apartments. The other 194, by VoucherMatch's subtraction, were outside it.

The 65 lottery apartments at Prosper Brooklyn by size and income level

40% AMI60% AMI130% AMI

Studio

1 bedroom

2 bedrooms

View the data table

Apartment size	40% AMI	60% AMI	130% AMI	Total
Studio	10	3	1	14
1 bedroom	28	0	9	37
2 bedrooms	11	0	3	14

What it means: 49 of the 65 apartments, or 75%, were at 40% AMI, three were at 60% and 13, or 20%, were at 130%. None was a three-bedroom.

Source: Housing Connect listing for lottery 7403, counted by VoucherMatch from its 65 unit rows on October 17, 2026.

Key pointHPD's data and the lottery line up. HPD counts 49 very low income apartments (31 to 50% AMI), three low income (51 to 80%) and 13 middle income (121 to 165%). Its row had no completion date on October 8, 2026.

Floor plan of a studio apartment under the heading Prosper, 1042 Atlantic Avenue, Atlantic Tower, Residence 2-11D and 2-4G, studio plus alcove: a living area with two windows, a kitchen run with a range, sink, dishwasher and refrigerator, a sleeping alcove with a bed, a bathroom with a tub and a closet marked W/D, beside a small key plan of the block between Atlantic Avenue and Pacific Street and the logos of EMP Capital and M.N.S Real Estate NYC — Floor plan of a studio with an alcove in the Atlantic Avenue tower, from the building's leasing site, which attaches it to a market-rate apartment. The Housing Connect listing has no floor plans. Photo: EMP Capital and M.N.S Real Estate NYC, leasing site floor plan, via Prosper Brooklyn leasing site, availability page (floor plan for the studio listed as 7D) (PDF page rendered, placed on a 16:9 canvas, reduced).

No floor plans or sizes are in the listing. The plan above is the leasing site's, for a market-rate studio. The listing does not say which floors or which wing hold the 65 apartments.

Rents and Income Ranges in the Housing Connect Listing for 1042 Atlantic Avenue

The 65 lottery apartments had seven rents, from $844 to $3,250 a month. The lowest minimum income in the listing is $34,492 a year.

Apartments	Rent	People	Yearly income
10 studios, 40% AMI	$844	1 to 2	$34,492 to $54,280
28 one-bedrooms, 40% AMI	$869	1 to 3	$36,652 to $61,080
11 two-bedrooms, 40% AMI	$976	2 to 5	$43,475 to $73,280
3 studios, 60% AMI	$1,483	1 to 2	$56,400 to $81,420
1 studio, 130% AMI	$2,400	1 to 2	$87,840 to $176,410
9 one-bedrooms, 130% AMI	$2,790	1 to 3	$102,515 to $198,510
3 two-bedrooms, 130% AMI	$3,250	2 to 5	$121,440 to $238,160

What it means: a one-bedroom rented for $869 or $2,790, a difference of $1,921 a month, depending on the household's income level.

Source: Housing Connect listing for lottery 7403, read October 17, 2026, the same as on October 8. The top of each range is for the largest household allowed.

Household size	40% AMI maximum	60% AMI maximum	130% AMI maximum	Income with no apartment in the listing
1 person	$47,520	$71,280	$154,440	$47,521 to $56,399 and $71,281 to $87,839
2 people	$54,280	$81,420	$176,410	$54,281 to $56,399 and $81,421 to $87,839
3 people	$61,080	no apartment	$198,510	$61,081 to $102,514
4 people	$67,840	no apartment	$220,480	$67,841 to $121,439
5 people	$73,280	no apartment	$238,160	$73,281 to $121,439

What it means: the only 60% AMI apartments were studios, so a household of three to five between the 40% and 130% levels had no apartment to apply for.

Source: the same listing; the last column is VoucherMatch's reading of its minimums and maximums.

Under $34,492: below the lowest minimum, unless the household has a rental subsidy.
Asset limit: $67,840 at 40% AMI, $101,760 at 60% and $220,480 at 130%.

Watch outtwo sets of income figures are in print. New York YIMBY's February 2026 report gave lower maximums for every apartment type. The listing showed higher ones on October 17, 2026.

Yearly income range by rent: in New York YIMBY's report of February 14, 2026 and in the listing on October 17, 2026
Rent	New York YIMBY, February 2026	Housing Connect listing, October 2026
$844 studio	$34,492 to $51,840	$34,492 to $54,280
$869 one-bedroom	$36,652 to $58,320	$36,652 to $61,080
$976 two-bedroom	$43,475 to $70,000	$43,475 to $73,280
$1,483 studio	$56,400 to $77,760	$56,400 to $81,420
$2,400 studio	$72,000 to $124,150	$87,840 to $176,410
$2,790 one-bedroom	$76,149 to $139,620	$102,515 to $198,510
$3,250 two-bedroom	$121,440 to $227,500	$121,440 to $238,160

Showing the first 3 of 7 rows. View allCollapse table

What it means: no document opened explains the difference, so an applicant between the two figures should ask Reside New York.

Source: New York YIMBY, February 14, 2026; the Housing Connect listing. Reside New York's page for the building prints "$34,389-$227,500".

Key pointtenants pay for electricity, and the heat runs on it. The listing says "Tenant is responsible for electricity, including stove, heat, and hot water." Its field for deposits or application fees is set to no.

Photograph of a staged apartment kitchen with flat white upper cabinets, wood-tone lower cabinets, a pale stone backsplash lit from under the cabinets, a smooth black cooktop over a built-in stainless-steel wall oven, a stainless-steel refrigerator, a sink with a chrome faucet, and a small round marble table with two upholstered chairs in the foreground — Photograph of a kitchen from the Housing Connect listing for Prosper Brooklyn, with a smooth cooktop over a wall oven. The listing does not say which apartment is shown. Photo: NYC Housing Connect listing for lottery 7403, lottery listing photograph, via NYC Housing Connect, Prosper Brooklyn (lottery 7403) (cropped, reduced).

Which Rents a CityFHEPS or Section 8 Voucher Reaches

Five of the seven rents are under the 2026 CityFHEPS maximum for the same apartment size. Two, both at 130% AMI, are over it.

This was a city lottery on NYC Housing Connect. HPD was its agency, so HPD's rule applies. The Housing Connect FAQ says: "Minimum income requirements do not apply if you have a voucher or a rental subsidy. However, rent should be within maximum limits allowed by your voucher or rental assistance program."

Lowest and highest monthly rent at Prosper Brooklyn against the 2026 CityFHEPS maximum for that apartment size, in dollars

Lowest rent (40% AMI)Highest rent (130% AMI)CityFHEPS maximum

Studio

$844

$2,400

$2,604

1 bedroom

$869

$2,790

$2,734

2 bedrooms

$976

$3,250

$2,997

View the data table

Apartment size	Lowest rent (40% AMI)	Highest rent (130% AMI)	CityFHEPS maximum
Studio	$844	$2,400	$2,604
1 bedroom	$869	$2,790	$2,734
2 bedrooms	$976	$3,250	$2,997

What it means: the 130% AMI studio is $204 under the maximum. The 130% AMI one-bedroom and two-bedroom are $56 and $253 over it.

Source: rents from the Housing Connect listing for lottery 7403; maximums from DSS-8r, effective April 1, 2026, all utilities included.

Watch outthe maximums assume the rent covers all utilities. Here it does not, so a voucher program subtracts a utility allowance from its maximum.

Apartment size	CityFHEPS maximum	Electricity with cooking range	Electric heat and hot water	Maximum less both
Studio	$2,604	$111	$89	$2,404
1 bedroom	$2,734	$126	$106	$2,502
2 bedrooms	$2,997	$167	$138	$2,692

What it means: the $2,400 studio is $4 under the reduced figure. The four lower rents stay under by $921 or more.

Source: DSS-8r, 2026 utility allowance schedule, rows "Electric with Cooking Range" and "Total (Electric Heat & Hot Water)", which match what the listing says tenants pay; subtraction by VoucherMatch.

Your maximum follows your household. DSS-8r sets it by family size. The studio amount is for one person, the one-bedroom amount for one or two, and the two-bedroom amount for three or four.
By apartment count: 53 of the 65 lottery apartments were under the maximum for their size. The other 12 were over, by VoucherMatch's count.
Guides: CityFHEPS vs Section 8, Section 8 payment standards in NYC for 2026 and Section 8 utility allowances in NYC.

Photograph of a staged living and dining room with pale wood-look flooring and white walls, two large windows looking out on brick buildings and trees, a round wooden table with four cane chairs, a curved white sofa, a doorway to a bedroom, air vents in the ceiling, and at right a kitchen run with a stainless-steel refrigerator, white upper cabinets and a sink — Photograph of a living room and kitchen from the Housing Connect listing for Prosper Brooklyn. The listing does not say which apartment is shown. Photo: NYC Housing Connect listing for lottery 7403, lottery listing photograph, via NYC Housing Connect, Prosper Brooklyn (lottery 7403) (cropped, reduced).

How the Rents Compare With Typical Rents in ZIP Code 11238

Every advertised rent is below HUD's estimate of a typical rent in ZIP code 11238. The gap is $1,210 to $3,484 a month.

Lowest and highest monthly rent at Prosper Brooklyn against HUD's fiscal year 2027 fair market rent for ZIP code 11238, in dollars

Lowest rent (40% AMI)Highest rent (130% AMI)HUD fair market rent, ZIP 11238

Studio

$844

$2,400

$3,890

1 bedroom

$869

$2,790

$4,100

2 bedrooms

$976

$3,250

$4,460

View the data table

Apartment size	Lowest rent (40% AMI)	Highest rent (130% AMI)	HUD fair market rent, ZIP 11238
Studio	$844	$2,400	$3,890
1 bedroom	$869	$2,790	$4,100
2 bedrooms	$976	$3,250	$4,460

What it means: the 130% AMI two-bedroom, at $3,250, is $1,210 under HUD's $4,460. The 40% AMI two-bedroom, at $976, is $3,484 under it.

Source: rents from the Housing Connect listing for lottery 7403; fair market rents from HUD's Small Area Fair Market Rents for fiscal year 2027, in effect since October 1, 2026. HUD's figure is its estimate of the 40th-percentile rent in the ZIP code with utilities included.

Apartment size	130% AMI rent in the lottery	Lowest asking rent on the leasing site	Difference
Studio	$2,400	$3,550	$1,150
1 bedroom	$2,790	$3,942	$1,152
2 bedrooms	$3,250	$5,958	$2,708

What it means: the lottery's highest rents were $1,150 to $2,708 a month under the building's own asking rents.

Source: the availability page of prosperbrooklyn.com, read October 8, 2026, which listed seven market-rate apartments and says "Pricing is reflective of introductory promotional offers and subject to change."

Utilities: rents here leave out electricity, heat and hot water, so the gaps are smaller than the chart shows.
Apartments in this ZIP code: see voucher apartments in ZIP 11238.

Photograph of a bathroom with large grey stone-look tile on the walls and floor, a wood vanity with a white top and two faucets under a rounded lighted mirror, a white toilet and a glass-enclosed walk-in shower with a handheld sprayer — Photograph of a bathroom from the Housing Connect listing for Prosper Brooklyn. The listing does not say which apartment is shown, and other apartments can differ. Photo: NYC Housing Connect listing for lottery 7403, lottery listing photograph, via NYC Housing Connect, Prosper Brooklyn (lottery 7403) (cropped, reduced).

How Prosper Brooklyn Was Financed

City property records show private loans and no mortgage to a city housing agency. Three mortgages totaling $106,500,000 are dated December 22, 2023, and one of $31,000,000 is dated November 25, 2025.

Recorded document	Dated	Amount
Deed, Gold Star "A" Realty Inc. to EMP Atlantic LP	March 9, 2022	$14,000,000
Mortgage to SA Investors Inc.	March 9, 2022	$2,500,000
Mortgage to QR Real Estate Capital REIT LLC	December 22, 2023	$78,745,189.33
Mortgage to QR Real Estate Capital REIT LLC	December 22, 2023	$18,693,539.46
Mortgage to QR Real Estate Capital REIT LLC	December 22, 2023	$9,061,271.21
Mortgage to QR US Finance REIT LLC	November 25, 2025	$31,000,000
Agreement with QR US Finance REIT LLC	November 25, 2025	$140,000,000

What it means: the three December 2023 mortgages add up to $106,500,000, by VoucherMatch's addition. With the $2,500,000 mortgage of 2022, assigned to the same lender that day, the total is $109,000,000.

Source: ACRIS records for Brooklyn block 1125, lot 29.

"$109,000,000": Walker & Dunlop said on March 18, 2024 that it "structured $109,000,000 in construction financing" and named "QuadReal Property Group as the lender".
The city's part: HPD dates the project's start February 28, 2024. Property records hold an agreement of that date between the lender and the City of New York. No mortgage to HPD or the Housing Development Corporation is recorded.

Preferences, Building Features and Fees

The lottery gave preference for 20% of the apartments to residents of Brooklyn Community Board 8. It gave preference for 10% to city employees and veterans.

Preferences in the listing

20%residents of Brooklyn Community Board 8.
10%the group the listing calls "Municipal Employee/ Military Veteran".
Not in the listing's dataset-asides for applicants with mobility, vision or hearing disabilities.

What the building has: listed, extra cost, not stated

Listed on Housing Connectwashers, dryers and dishwashers in the apartments, air-conditioning and a doorman. The list also has a gym, a rooftop terrace, garages and electric car charging, and it marks the building "Smoke-free".
In the listing's text"a game room, movie theater, pet washing station, coworking lounge, outdoor courtyards, a tranquil zen garden, a dedicated pilates room, a sauna with a cold plunge pool, and a pickleball court. Additional fees may apply."
Extra cost on the leasing site's fee guidea "Community Amenity Fee" of $70 a person a month. Bike storage is $25 a rack a month. The guide adds "Some fees may not apply to apartment homes subject to an affordable program."
Not statedapartment sizes, what parking costs, and whether the amenity fee applies to lottery tenants.

Photograph of a narrow planted courtyard with a stone path, a wooden bench and two white globe lights between a dark glass-walled ground floor at left and an ivy-covered wall at right, leading to a tall glazed wall under upper floors of pale brick with balcony railings — Photograph of the ground-floor garden at Prosper Brooklyn, from the building's leasing site. Photo: Prosper Brooklyn leasing site (the page names no photographer), leasing site photograph, via Prosper Brooklyn leasing site, amenities page (cropped, enlarged 1.07 times).

Watch outtwo pet charges are in print. The listing says "2 pets allowed with a 50 pond total weight limit. $300 refundable pet deposit." The fee guide lists a "Pet Fee" of $250 for each pet, charged once.

Watch outthe fee guide marks the amenity fee "optional". The leasing site's availability page says "Residents are required to pay" it. Ask Reside New York which applies to a lottery apartment.

Rendering at dusk of a roof terrace with a paved deck, a counter with a sink and three built-in grills along a wall at left, planters with shrubs and small globe lights, wooden dining tables and chairs along a railing at right, and a skyline of towers on the horizon — Rendering of the rooftop terrace from the Housing Connect listing for Prosper Brooklyn. Photo: NYC Housing Connect listing for lottery 7403, lottery listing rendering, via NYC Housing Connect, Prosper Brooklyn (lottery 7403) (cropped, reduced).

What Happens After the Lottery and Where Openings Are Posted

Applications for the 65 apartments were due April 13, 2026. HPD's guide says applicants may hear back "within two to twelve months after the deadline".

How the 65 apartments are filled

1Log numbers"Within a few weeks after the lottery application deadline, Housing Connect randomly assigns log numbers".
2Review"The developer reviews them in log number order (starting with those who meet preference categories) and contacts applicants."
3Documents"If your log number comes up, the developer will contact you to submit documents."
4Timingtwo to twelve months after April 13, 2026 runs from June 2026 to April 2027, by VoucherMatch's count.

What it means: an applicant with no word by October 2026 is still inside HPD's window. The same guide says "you may not be contacted, even if you could have qualified."

Source: step one from the Housing Connect FAQ; steps two and three from HPD's guide of June 2020.

If you applied, have these ready

Identity. a driver's license, non-driver state ID or IDNYC card
Income and assets. pay stubs, tax returns, proof of address and asset documentation
Rent history or credit. proof of 12 months of full rent payments, or consent to a credit review
Voucher. your shopping letter or voucher, showing the rent it covers

What it means: the document request lists the exact papers, and the marketing agent asks voucher holders for "proof of the subsidy and the amount of rent it covers".

Source: the Housing Connect FAQ.

Check before you payapplying through NYC Housing Connect is free. Its FAQ says "There is no fee to apply for housing using Housing Connect"; a marketing agent may charge a credit or background check fee of no more than $20 per household. No payment app, wire or gift card buys a place in a lottery, and no one should charge you to see or hold an apartment. Apply only at housingconnect.nyc.gov or by mail to the address in the official listing.

Where the next openings are posted

Housing Connectcity lotteries are posted at housingconnect.nyc.gov. On October 17, 2026 the site had seven open rental lotteries in Brooklyn, none at 1042 Atlantic Avenue.
Reside New Yorkthe listing sent paper applications to "Prosper Brooklyn Apartments C/O Reside Affordable, 349 Keap Street". On October 8, 2026, Reside's page for the building was marked "Upcoming Project". Its phone number is 718-387-4448.
Re-rentalsHPD's re-rentals page lists Reside New York and MNS among managers to contact about vacancies. On October 8, HDC's re-rental search had 24 advertisements, none for this building.
The leasing officeprosperbrooklyn.com listed market-rate apartments only on October 8. Its phone number is 646-532-3217.

Not yet known

Not publishedhow many of the 65 apartments have been leased, and whether the building keeps a waiting list. Also unpublished: whether the 421-a exemption has been granted and how long the rents stay restricted.
Not openon October 17, 2026, Housing Connect had no open lottery at this address. No application or waiting list was found on October 8 either. VoucherMatch checked Reside New York's pages, MNS's affordable units page and the leasing site.

If You Need an Apartment Now

Applications for the 65 lottery apartments were due April 13, 2026. A household that needs to move this year has to look at other buildings.

2 bedrooms apartment in Williamsburg, Brooklyn — Brooklyn apartments on VoucherMatch that take vouchers, nearest to 1042 Atlantic Avenue first

4 bedrooms apartment in Williamsburg, Brooklyn — Brooklyn apartments on VoucherMatch that take vouchers, nearest to 1042 Atlantic Avenue first

Voucher in hand: browse Section 8 apartments in Brooklyn and CityFHEPS apartments in Brooklyn. Or narrow to CityFHEPS apartments in Crown Heights.
No voucher yet: read how to get a housing voucher in NYC.
No voucher and a low income: low-income apartments lists income-based buildings where the application goes to the building.

Frequently Asked Questions

What is the rent at Prosper Brooklyn in Crown Heights?

Lottery rents at Prosper Brooklyn run from $844 to $3,250 a month. Studios were $844, $1,483 or $2,400. One-bedrooms were $869 or $2,790, and two-bedrooms $976 or $3,250. The rent depends on the income level: 40%, 60% or 130% AMI. Tenants also pay for electricity, including heat and hot water.

How much do you have to earn for 1042 Atlantic Avenue?

The listing's income ranges run from $34,492 a year for an $844 studio to $238,160 for five people in a $3,250 two-bedroom. Each apartment type has its own minimum and maximum. Households with a voucher or rental subsidy do not have to meet the minimum income, but the maximum still applies.

Can I use CityFHEPS or Section 8 at Prosper Brooklyn?

Yes, for most of the apartments. Five of the seven advertised rents are under the 2026 CityFHEPS maximum for their size. The 130% AMI one-bedrooms and two-bedrooms are over it. The Housing Connect FAQ says "Minimum income requirements do not apply if you have a voucher or a rental subsidy."

Was 1042 Atlantic Avenue on NYC Housing Connect?

Yes. It was lottery 7403, named "Prosper Brooklyn", for 65 apartments at 40%, 60% and 130% AMI. Applications were due April 13, 2026, and paper applications went to Reside New York. On October 17, 2026, Housing Connect had seven open rental lotteries in Brooklyn, and none was at this address.

Is 1034 Atlantic Avenue the same building as Prosper Brooklyn?

Yes. City Planning uses 1034-1042 Atlantic Avenue, and the city's tax lot data uses 1034 Atlantic Avenue. Property records also carry 1035 Pacific Street, on the building's Pacific Street side. The leasing site calls it "Prosper". All of these are Brooklyn block 1125, lot 29, a 19-story building with 259 apartments.

Are the rents at 1042 Atlantic Avenue below market?

Yes. Every lottery rent is at least $1,210 below HUD's fiscal year 2027 fair market rent for ZIP code 11238. The highest lottery rent, $3,250 for a two-bedroom, was $2,708 under the leasing site's lowest two-bedroom asking rent. That was on October 8, 2026. HUD's figures include utilities, and tenants here pay for electricity.

Sources for this article (30)

Housing Connect listing for lottery 7403 (housingconnect.nyc.gov)
open-lottery search (housingconnect.nyc.gov)
Housing Connect FAQ (housingconnect.nyc.gov)
DSS-8r (nyc.gov)
prosperbrooklyn.com (prosperbrooklyn.com)
fee guide (prosperbrooklyn.com)
page for the building (residenewyork.com)
page (empcapitalgroup.com)
Affordable Housing Production by Building (data.cityofnewyork.us)
2022 rezoning (zap.planning.nyc.gov)
2024 (zap.planning.nyc.gov)
2026 (zap.planning.nyc.gov)
report of February 16, 2022 (nyc.gov)
Inclusionary Housing (nyc.gov)
421-a (nyc.gov)
City of Yes (nyc.gov)
Atlantic Avenue Mixed-Use Plan (nyc.gov)
announcement of March 18, 2024 (web.archive.org)
description of 1001 Pacific Street (fifthave.org)
City Limits (citylimits.org)
Brooklyn Paper (brooklynpaper.com)
New York YIMBY (newyorkyimby.com)
Commercial Observer (commercialobserver.com)
New York Real Estate Journal (nyrej.com)
Applying for Affordable Housing (nyc.gov)
re-rentals page (nyc.gov)
re-rental search (nychdc.com)
Small Area Fair Market Rents (huduser.gov)
housingconnect.nyc.gov (housingconnect.nyc.gov)
prosperbrooklyn.com (prosperbrooklyn.com)

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Every rule, date and dollar amount in this article is checked against the agency document it comes from, and the sources are listed above. How VoucherMatch articles are researched and corrected