Affordable Housing Lottery Opens for New Gowanus Build

The new nine-story building, on the banks of the Gowanus Canal, is part of a larger 23-story two-tower complex.

An affordable housing lottery opened for a new nine-story development that replaced a former parking lot next to the now-demolished Green Building in Gowanus. This is the affordable component of Rabsky Group’s two-tower Westmark development, made possible by the area’s rezoning. It sits between Bond Street and the Gowanus Canal.

Included in the lottery for 325 Bond Street Apartments are 153 studio, one-, and two-bedroom apartments, all rent stabilized and income restricted, 122 of which could be deemed truly affordable. Those are set aside for families earning 40 and 60 percent of the Area Median Income, or between $34,766 and $109,920 a year for households of one to five people, according to the listing.

Of those units, 31 are studios going for $903 and $1,397 a month, 36 are one-bedrooms at $960, $961, and $1,491 a month, and 25 are two-bedroom apartments going for $1,142 and $1,777 a month. The remaining apartments are aimed at households of one to five people earning 110 and 130 percent of AMI, or $94,080 to $201,520 for households of one to five people. One-bedrooms in this bracket cost $2,815 and $3,821 a month.

Permits show that Hamish Whitefield Architects P.C. designed the nine-story, 179-unit building. President Union LLC, an LLC controlled by Rabsky Group, developed. The building includes a business center, children’s playroom, gym, yoga studio, rooftop terraces, bike storage lockers, media room, and shared laundry room, according to the listing, which says some amenities come at a fee. The building is smoke free and pet friendly, with multiple pets allowed, according to the listing.

Apartments have dishwashers, washers and dryers, and energy efficient appliances, the listing notes. Tenants have to pay for electricity, which includes the stove. Rent includes heating and hot water.

Renderings show the building, which has a setback on the sixth story, finished in orange brick. The ground, second, and sixth floors have arched windows, while the rest of the building has divided square and rectangular windows.

There is an industrial design, in line with the area’s history and resembling the podium of the 23-story building across President Street, part of the same Rabsky-owned complex dubbed Westmark at 395 Carroll. The entire complex has 604 apartments, 179 of which are in 325 Bond Street, according to permits.

Unregulated apartments in Westmark started leasing in December 2025, according to StreetEasy. The 10 units currently listed online include studios starting at $3,257 a month, one-bedrooms at $3,883 a month, and two-bedrooms from $5,657.

Prior to the new development, the site held a parking lot. Rabsky Group acquired it as part of a $95 million multi-parcel deal in 2019. A new-building permit was issued in February 2024, but the building does not yet have a certificate of occupancy.

Because the development takes advantage of the rezoning, it is required to include affordable units under the city’s Mandatory Inclusionary Housing program. It is also expected to receive the 421-a tax break, according to the listing.

The 325 Bond Street Apartments lottery closes on June 8. To apply, visit the listing on New York City’s Housing Connect website.

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