500 Waverly Avenue

500 Waverly Avenue is located at the corner of Fulton Street in the Clinton Hill neighborhood of Brooklyn. The new building is a seven-story mixed-use structure with commercial retail on the ground level and residential units above, where 80% are market-rate luxury apartments and 20% are affordable. Developed by Orange Management with the Housing Partnership as Managing Agent, the condominiums in the project are permanently affordable. The building's amenities include indoor activity space on the 2nd floor with an assembly area for parties, a kitchenette, television viewing area, and bathrooms. An outdoor activity area on the 2nd floor features lounge chairs, tables, and a built-in barbecue grill. The project also has a common exercise room with fitness and weight equipment. The building provides approximately 7,100 rentable square feet of retail space along with a fully automated parking system for 32 cars. The Inclusionary Housing 421-a units are marketed at 60% to 80% of Area Median Income.