Let's just start with the lead:
In New York City, finding an affordable Brooklyn apartment is notoriously difficult.That has a lot less to do with modular than with subsidies.
On average, a 750-square-foot, one-bedroom apartment rents for $2,591 per month.
But inside Brooklyn's 461 Dean -- the world's tallest modular building -- half of the 363 rental apartments fall well below market rate. One bedrooms, which range from 578- to 735-square-feet, start at $600 a month.
Note that, while one-bedroom apartments in Brooklyn at large do rent for $2,591, according to the linked report from MNS, a more apt market comparison would have been Downtown Brooklyn ($3,055), which has the most comparable new units, then Fort Greene ($2,808) or Park Slope ($2,550).
But let's follow the logic of purported alternatives to one-bedroom monthly rents of $2,591. How much do affordable one-bedroom units at 461 Dean rent for? As shown in the graphic below, some rent for $2,504. (Again, subsidies.) That's not a major difference.
|461 Dean affordable rents, 5 of 70 one-bedrooms at $2,504|
More importantly, let's compare that purported $2,591 monthly rent to the rent levels for the two "100% affordable" buildings opening soon.
Combining both buildings, 127 of 260 total one-bedroom units would rent for more than $2,591. As noted below, at 38 Sixth, 66 of 131 one-bedrooms will rent at $2,663, and, at 535 Carlton, 61 of 129 one-bedrooms will rent at $2,680.
|38 Sixth affordable rents, 66 of 131 one-bedrooms at $2,663|
|535 Carlton affordable rents, 61 of 129 one-bedrooms at $2,680|