Sales Launch at Shelton in Bed-Stuy

March 12, 2012 Brooklyn Eagle Staff

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Offers High-End Affordable Co-op Living

Compiled by Linda Collins

Brooklyn Daily Eagle

BEDFORD-STUYVESANT — Sales have launched at The Shelton, a newly constructed 14-story development offering affordable co-op living at 775 Lafayette Ave., between Throop Avenue and Marcus Garvey Boulevard in Bedford-Stuyvesant.

A project of TNS Development Group with design by Aufgang + Subotovsky Architecture and Planning, completion and move-ins are expected by June.

TNS reports that 30 percent of the 83 income-restricted units have already been sold through a lottery conducted by the city’s Housing Development Corp.

According to Samuel Gaccione, executive vice president of TNS, all of the remaining units are now available on the open market on a first-come, first-served basis to buyers with total household incomes between $39,612 and $166,075.

“This gives qualified buyers an opportunity to purchase affordable homes without going through the lottery system,” he said.

The remaining one-bedrooms are priced from $115,000 to $249,500, the two-bedrooms from $142,000 to $456,500, and the three-bedrooms from $387,500 to $455,000. The higher prices are for one- and two-bedroom penthouses that come with private roof terraces.

“This property has value-added qualities not only for its residents but for the community,” said Gaccione. “The Shelton offers the kind of quality design and amenities you expect when you talk about luxury living, but without the platinum pricing.”

Stephen Kliegerman, president of Halstead Property Development Marketing, which is handling sales, said the units offer top-of-the-line finishes, oversized windows, and a washer and dryer in each unit.

“Buyers living above the sixth floor will enjoy views of the Manhattan and Brooklyn skylines and area bridges,” he said.

Building amenities include a grand lobby entrance and a part-time doorman, plus a landscaped common courtyard, fitness room, private events room and underground parking.

Green and energy-saving amenities include solar panels, Energy Star appliances, individual water-saving fixtures, and PTAC heating and air-conditioning systems.

The property was acquired from St. Phillip’s Christian Church with the caveat that the developer build an 8,600-square-foot community center with a basketball court, classrooms, office space and a kitchen to be used by the church and local community groups.