Deal Is Expected To Sharply Boost Affordable Housing Supply in Borough’s Neighborhood

BEB Capital and Totem’s successful $66 million sale of 1057 Atlantic Avenue in Brooklyn’s Bedford-Stuyvesant neighborhood to Douglaston Development paves the way for a transformative 456-unit mixed-income project, including 137 permanently affordable units. The $320 million development, one of the last to qualify for the 421-a tax exemption program, will increase affordable housing in Bed-Stuy by more than 50% since 2014 when completed in late 2025.

Read more: https://www.costar.com/article/1927589973/deal-is-expected-to-sharply-boost-affordable-housing-supply-in-boroughs-neighborhood