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Affordable housing lottery opens for 904 East 98th Street in Canarsie

Affordable housing lottery opens for 904 East 98th Street in Canarsie

Built World New York, NY local

Seven studios in a converted community facility are available through NYC Housing Connect, with rents from $940 to $2,441.

Today: Lottery opens

Overview

Updated 47 minutes ago

The lottery for 904 East 98th Street opened on November 12, with seven studios available through NYC Housing Connect. The building is a three-story community facility being converted into 27 apartments in Canarsie, Brooklyn.

Rents run from $940 a month at 40 percent of area median income (AMI) to $2,441 at 100 percent. Applications are due December 3. The listing uses a state tax exemption for converting non-residential buildings into apartments.

Why it matters

Seven studios in a converted Canarsie building show how New York turns old community facilities into income-restricted apartments, one lottery at a time.

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Key Indicators

7
Studios in lottery
Seven studios are listed on NYC Housing Connect.
27
Total apartments
The conversion will create 27 apartments from a three-story community facility.
$940
Monthly rent at 40% AMI
Two studios are set at 40 percent of area median income.
$2,441
Monthly rent at 100% AMI
Four studios are set at 100 percent of area median income.
40–100%
Income range
Eligible incomes run from $37,989 to $135,700.
Dec 3, 2026
Application deadline
Applications must be postmarked or submitted online by that date.

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People Involved

MB
Moshe Braver
Developer, Rockaway Equities NY LLC
Building owner and developer

Organizations Involved

RE
Rockaway Equities NY LLC
Developer and owner
Owns 904 East 98th Street

The limited liability company bought the Canarsie lot in November 2025 and filed the conversion.
NYC Housing Connect
NYC Housing Connect
City affordable housing lottery portal
Lists seven studios at 904 East 98th Street

The city's portal for income-restricted apartment lotteries.

Timeline

1958 November 2026

9 events Latest: Today
Tap a bar to jump to that date

  1. Lottery opens

    Today Lottery

    Lottery opens for seven studios; applications due December 3.

  2. Housing Connect lists studios

    Listing

    Housing Connect lists seven studios with no deadline.

  3. Completion letters issued

    Construction

    Completion letters issued for sprinkler, plumbing, and mechanical work.

  4. First conversion permit issued

    Permit

    First conversion permit issued.

  5. Interior demolition permit issued

    Permit

    Interior demolition permit issued.

  6. Conversion filed

    Filing

    Conversion filed to create 27 apartments from a community facility.

  7. Rockaway Equities buys the lot

    Sale

    Rockaway Equities NY LLC buys the lot for $4.25 million.

  8. Certificate of occupancy issued under old address

    Records

    Final certificate of occupancy issued under 1285 Rockaway Avenue.

  9. Building dates to 1958

    Background

    Property records date the building to 1958.

Scenarios

1

All seven studios are leased by mid-2027

Likely Resolves by Q2 2027

Discussed by: NYC Housing Connect listing and New York YIMBY coverage

The lottery closes on December 3, 2026. If the building receives its certificate of occupancy and demand meets expectations, the seven studios would be rented through the city's lottery process. The listing is small, so a single batch of applications could fill it.

2

Conversion misses certificate of occupancy and move-ins slip

Possible Resolves by Q1 2027

Discussed by: VoucherMatch review of Department of Buildings records

As of October 18, 2026, DOB NOW had no certificate of occupancy for the conversion. A missing sign-off would delay move-ins even after the lottery closes. The project has permits and completion letters, but final approval is a separate step.

3

Lottery deadline is extended or reopened

Unlikely Resolves by Jan 31, 2027

Discussed by: VoucherMatch listing review

VoucherMatch noted the Housing Connect listing had no deadline on October 18, 2026. The current deadline is December 3. If the city or marketing agent extends the window, the listing would show a later date.

Historical Context

3 moments from history that rhyme with this story — and how they unfolded.

May 2023

1285 Rockaway Avenue certificate of occupancy (2023)

A final certificate of occupancy was issued for the lot under the address 1285 Rockaway Avenue. The property was then a community facility. The same lot later became 904 East 98th Street in city records.

Then

The building remained a community facility.

Now

In 2025 the new owner filed to convert it to 27 apartments.

Why this matters now

The address change and conversion explain why city records disagree about the building's history.

November 2025

Rockaway Equities buys 904 East 98th Street (2025)

Rockaway Equities NY LLC bought the lot for $4.25 million. Six days later it filed a conversion plan to create 27 apartments.

Then

The project moved through permits in 2026.

Now

The conversion became the subject of a seven-studio lottery.

Why this matters now

The purchase set up the affordable housing lottery now open to applicants.

2026

New York's 467-m conversion exemption

The 467-m program gives property tax exemptions for converting non-residential buildings into rental apartments. HPD runs it in New York City as the Affordable Housing from Commercial Conversions Tax Incentive Benefits program. The 904 East 98th Street listing describes its seven studios as 467M AHCC units.

Then

The program lowers development costs for conversions.

Now

It is one route for adding rent-restricted units without new construction.

Why this matters now

The Canarsie conversion uses the program to turn a former community facility into 27 apartments.

Sources

(2)
New York YIMBY VoucherMatch