Affordable cooperative housing in Brooklyn since 1958
How It Started
Kings Bay Housing Co., Inc. was incorporated on May 13, 1957, and the buildings went up the following year. The complex was part of New York State’s Mitchell-Lama program — a post-war initiative that gave developers low-interest loans and tax breaks in exchange for keeping housing affordable. Named after legislators MacNeil Mitchell and Alfred Lama, the program ultimately created over 100,000 units of affordable housing statewide.
Kings Bay Houses was one of many cooperatives built during this period, and it’s still going strong more than six decades later.
The Complex
The property sits on a 165,900-square-foot lot in Sheepshead Bay and includes four eight-story brick buildings with a total of 540 apartments. Three buildings line Batchelder Street (2520, 2540, and 2560), and the fourth faces Avenue Z at 2965. All four were built in 1958 in the post-war modern style — practical layouts, elevator service, and solid brick construction.
How the Co-op Works
Residents at Kings Bay Houses aren’t tenants — they’re shareholders. Each family holds a proprietary lease tied to their apartment, and everyone has a say in how things are run through a Board of Directors elected by the shareholders.
Carrying Charges, Not Rent
Monthly costs cover building operations and the mortgage. No landlord profit.
Resident-Elected Board
Shareholders vote on who runs the co-op. Major decisions go through the board.
State Oversight
NY’s DHCR provides regulatory oversight to keep things within program guidelines.
Kings Bay Section II
There’s a separate but related development nearby called Kings Bay Houses Section II, with its own buildings at 3020 Avenue Y and 2525/2533 Batchelder Street. It’s also a Mitchell-Lama co-op but has its own management. Together, the two developments have been a fixture of Sheepshead Bay since the late 1950s.