Case study · 421-a · Brookfield Properties · 2021–ongoing
The project
Bankside is two companion developments that have transformed the Mott Haven waterfront in the Bronx. Third at Bankside features two 25-story towers and one 17-story building atop an eight-story podium, delivering 450 residential units. Lincoln at Bankside consists of four 26-story towers totaling 921 units. Together, the two properties offer premium amenities including a pool, indoor basketball court, rooftop spaces, fitness facilities, and lounges.
The developer, Brookfield Properties, is a global real estate firm with a portfolio that spans major cities worldwide. Bankside represents one of the most transformative projects in the Bronx in decades — the first direct public waterfront access in Mott Haven in over a century.
The challenge
Brookfield’s construction strategy required staggered unit delivery across three distinct phases. That meant running three separate lotteries rather than a single larger one. On top of that, Bankside introduced rent price points materially higher than the Mott Haven waterfront had historically supported. The marketing challenge was twofold: execute three coordinated lotteries on a rolling schedule, while simultaneously re-framing the neighborhood’s residential offering to support the new price point.
The execution
Regtime ran three separate lotteries to match the construction sequence, staggering tenant selection in line with available inventory. In parallel, the team executed three distinct digital marketing campaigns — each highlighting Bankside’s luxury amenities and positioning the project as a new category of waterfront housing for the Bronx.
Strategic outreach extended beyond standard affordable-housing channels. The objective was to reach households considering the waterfront for the first time, while simultaneously serving the traditional affordable housing applicant base already active on Housing Connect.
The outcomes
- 38,700 applications received via Housing Connect.
- 30,200 applications processed — one of the highest processed-application counts on any recent NYC lottery.
- 277 affordable units filled across the initial phase — 100% of the set-aside.
- 39 lead-to-lease conversions in the direct-outreach pool.
- 14% overall conversion rate — strong given the neighborhood’s price-point adjustment.
What this project established
Large developments increasingly deliver in phases, and lease-up has to match. The Bankside playbook — three lotteries, three marketing campaigns, one integrated compliance monitor — is now Regtime’s standard for multi-phase large-scale projects. The ability to simultaneously re-position a neighborhood’s pricing frame and absorb thousands of applications in parallel is an operational capacity, not a messaging claim.
