Housing Lottery Launches for Paseo on 5th at 120 5th Avenue in Park Slope, Brooklyn

The affordable housing lottery has launched for Paseo on 5th, a six-story mixed-use building at 120 5th Avenue in Park Slope, Brooklyn. Designed by SLCE Architects and developed by William Macklowe Company and Senlac Ridge Partners, the structure yields 180 residences. Available on NYC Housing Connect are 45 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $25,166 to $175,000.

Amenities include a gym, community center, party room, recreation room, children’s playroom, coworking space, and outdoor areas include a rooftop terrace. Units are equipped with washers and dryers, dishwashers, keyless unit entry, solar blackout shades, and name-brand kitchen appliances, countertops, and finishes. Tenants are responsible for electricity.

Paseo on 5th at 120 5th Avenue in Park Slope, Brooklyn via NYC Housing Connect

Paseo on 5th at 120 5th Avenue in Park Slope, Brooklyn via NYC Housing Connect

Paseo on 5th at 120 5th Avenue in Park Slope, Brooklyn via NYC Housing Connect

At 40 percent of the AMI, there are five studios with a monthly rent of $654 for incomes ranging from $25,166 to $51,840; nine one-bedrooms with a monthly rent of $827 for incomes ranging from $31,440 to $58,320; and four two-bedrooms with a monthly rent of $980 for incomes ranging from $37,612 to $70,000.

At 60 percent of the AMI, there are five studios with a monthly rent of $1,055 for incomes ranging from $38,915 to $77,760; nine one-bedrooms with a monthly rent of $1,328 for incomes ranging from $48,618 to $87,480; and four two-bedrooms with a monthly rent of $1,581 for incomes ranging from $58,218 to $105,000.

At 80 percent of the AMI, there are two studios with a monthly rent of $1,455 for incomes ranging from $52,629 to $103,680; one one-bedroom with a monthly rent of $1,828 for incomes ranging from $65,760 to $116,640; and two two-bedrooms with a monthly rent of $2,181 for incomes ranging from $78,789 to $140,000.

At 100 percent of the AMI, there is one studio with a monthly rent of $1,916 for incomes ranging from $68,435 to $129,600; one one-bedroom with a monthly rent of $2,404 for incomes ranging from $85,509 to $145,800; and two two-bedrooms with a monthly rent of $2,872 for incomes ranging from $102,480 to $175,000.

Prospective renters must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than August 19, 2025.

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