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Old 01-30-2014, 07:46 PM
 
8 posts, read 107,881 times
Reputation: 14

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Hi all,

Back in October, I applied for the 2 Bedroom Lottery in the East Midtown Plaza Mitchell Lama Coop.

This week I received a letter with my log # (0XX) and a form asking me to fill out some information and to provide a money order for 200.00.


I didn't really think, I would get notified so soon and am genuinely surprised.


Has anyone done the Mitchell Lama process before?


What documents will I be asked to bring in?


What is the building like? The apartments? Security?



Has anyone been to this building before?



Any additional information will be extremely helpful.
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Old 01-31-2014, 12:39 AM
 
4,078 posts, read 4,056,077 times
Reputation: 2653
I highly doubt you are being called. They ask everyone who fills out the application for the security deposit. Some times they have it for 10+ years before people move in. I hope I'm wrong with your situation but I wouldn't be gearing up to move anytime soon.
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Old 01-31-2014, 12:45 AM
 
1 posts, read 13,339 times
Reputation: 10
Unhappy Re: East Midtown Plaza - 2 Bedroom Lottery - Mitchell Lama Coop

hey zoeyboogie,

I also applied to that same lottery and was curious if anybody received a letter back yet. I googled and I came across your post. I also don't know much about ML buildings but somebody told me about the lottery and it seemed like a great deal. I heard that the buildings are safe, but it can be hard to get in since these waiting lists can last for decades (if nobody moves out that is.)
Anyways Im happy you got a letter back. I got my fingers crossed as well.
Can I ask what day did the letter arrive? I currently live in Brooklyn but my mail man often messes up so I want to keep an eye out for it.
Also, if you dont mind me asking... is your number less than 100 or more. If it is less or close to a 100, then I heard it will be about 2 years for EMP. If it is more than a 100 than it might be a very longggg wait.
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Old 01-31-2014, 08:28 AM
 
Location: Manhattan
17,748 posts, read 23,471,984 times
Reputation: 7890
zooey,

Your being "called" means merely that they have opened up their waiting list. This is a Mitchell Lama co-op that is HIGHLY in demand.
I have a theory about why they opened the list: there was a 5 year battle between the co-operators, the majority who wanted to stay in Mitchell Lama, and the Board which tried to privatize the place. It raged in the courts and unless I am mistaken, was finally settled in the Appeals Court recently in favor of the cooperators. So, it will remain in ML. The net effect likely was that dozens of shareholders with the largest apartments who were holding on and looking to reap millions from their sale, walked away. Hence the opening of the waiting list.

The apartments, considering their affordability, are among the most desirable in the City and it would indeed be a lottery win for you to get in, so yes, jump at the chance.

BUT, a big BUT, be prepared to wait 5, 10, or 15 years to be called unless you really lucked out with a low number. You can call the management office and ask them what number you are and how high are they currently. Alas, there is often a problem where friends and family "mysteriously" get the lower numbers.

Most people move out when they are carried out by paramedics or funeral directors, but since many tenants have been in residence since the '70's, they ARE being carried out feet first at an increasing rate.

I wish you luck.
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Old 01-31-2014, 09:47 AM
 
Location: New York
517 posts, read 1,166,325 times
Reputation: 101
Yea I'm low in the low 80s and I know someone who got a number in the single digits. Let's hope it moves along.. good luck to everyone..
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Old 01-31-2014, 06:07 PM
 
8 posts, read 107,881 times
Reputation: 14
The postmark date was January 24. I checked my mail on Tuesday, Jan. 28. It could have been in my mailbox since Monday. I found the announcement and it stated that only 1,000 of the postcards via the lottery will be contacted.

I would prefer a 1-2 year wait so it's fine for me.
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Old 02-02-2014, 07:45 AM
 
9 posts, read 57,036 times
Reputation: 10
I received one with a postmark of 1/30, number in mid 300s. They draw 1000 names, so it must take them a few days to mail them out.
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Old 02-19-2014, 08:25 AM
 
1 posts, read 12,827 times
Reputation: 10
We are number 797.... on a wait list for a two-bedroom external apartment. Sounds like it's a good opportunity if it ever happens. The letter also mentioned that given xyz, the carrying charge cost is doubling so instead of paying the 20K it is 40k. I was miffed, but it's still more affordable than other real estate in NYC. Our letter was post dated Feb 14th.
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Old 02-20-2014, 06:59 AM
 
Location: Manhattan
17,748 posts, read 23,471,984 times
Reputation: 7890
Quote:
The letter also mentioned that given xyz, the carrying charge cost is
doubling so instead of paying the 20K it is 40k.
What were some of the xyz reasons? Was one of them the endless legal expenses of the privatization fight...must have been many millions. Doubling the buy-in price is quite a leap.
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Old 02-20-2014, 09:56 AM
 
Location: Manhattan
1,713 posts, read 3,164,740 times
Reputation: 2427
Quote:
Originally Posted by zoeyboogie View Post
Hi all,

Back in October, I applied for the 2 Bedroom Lottery in the East Midtown Plaza Mitchell Lama Coop.

This week I received a letter with my log # (0XX) and a form asking me to fill out some information and to provide a money order for 200.00.


I didn't really think, I would get notified so soon and am genuinely surprised.


Has anyone done the Mitchell Lama process before?


What documents will I be asked to bring in?


What is the building like? The apartments? Security?



Has anyone been to this building before?



Any additional information will be extremely helpful.
Congratulations. Even just getting on a waiting list is an amazing achievement for a ML building. In a borough where the majority of people rent you will be a homeowner.

Send in that money order immediately. When you actually get called to look at a unit, you'll get a chance to check out the building and ask any questions then.

I wouldn't worry about security. This isn't a public housing project but a co-op made up of middle class homeowners in a good neighborhood.
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