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Whoever wins this lottery really wins the lottery. The one bedrooms are 725 ft² and the two bedrooms are 1,117 ft².
Now that's what I'm talkin' about! No animal cage microstudios in the building
That's because Avery Hall intended this building to be family sized market rate condos. They mistimed the market, couldn't sell enough units and thus pivoted to rentals.
Question then becomes whether or not building will remain rentals permanently, or if sometime in future will attempt a condo conversion. For those lottery units the other question is if they are permanently "affordable" or will things sunset at certain date in future.
That's because Avery Hall intended this building to be family sized market rate condos. They mistimed the market, couldn't sell enough units and thus pivoted to rentals.
Question then becomes whether or not building will remain rentals permanently, or if sometime in future will attempt a condo conversion. For those lottery units the other question is if they are permanently "affordable" or will things sunset at certain date in future.
All 421a tax breaks for developers - regardless of condo status, contract the landlord into renting affordable for 30 years minimum.
35 years for our building. And I read somewhere where the landlord/developer has strict rules on how they have to present that information to you in the initial lease otherwise you can even fight that expiration date.
It wouldn't be fair otherwise. All of the applications need to be received before random log numbers can be assigned.
I agree it would not be fair to reach out before the full time had been reached, I am new to this process and read in another thread (5 Pointz I think) that people were contacted before the allotted time was expired.
I agree it would not be fair to reach out before the full time had been reached, I am new to this process and read in another thread (5 Pointz I think) that people were contacted before the allotted time was expired.
I think people were contacted but it doesn't necessarily mean that they're getting the apartment. I think that if people do show interest, the developers would direct them to the housing connect website unless they are interested in renting market rate.
Did anyone else notice they don't advertise studios on the One Boerum website? Even though housing connect is offering studios. I wonder how small those would be if one-bedrooms are 700ft+
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