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"The program also expires in 2038, at which point the apartment will revert to free market rent even if the tenant had been rent stabilized up to that point."
Are you sure? The way the program usually works is that the apartment goes to free market rent for the NEXT tenant after the program expires. That is, the apartment is stabilized at least until you move out. But there are so many variations I suppose your building could be different.
I asked the person on the interview to be sure since I researched it beforehand and she told me the 2038 date. There is a cutoff of 2008 for construction. Buildings completed after 2008 work that way (stabilized until next tenant) but buildings from beforehand do not.
I've not heard anything after submitting paperwork. But the person on the phone said just 1 bedroom and something along the lines of "I can't believe we even have a unit available".
Yeah, the website calls it "the heart of Tribeca" but it's really closer to the rear end. There's a sort of grungy worn-out spread between FiDi/the courts/WTC and the more desirable areas north and I'd say 89 Murray is on the border between that and real Tribeca. Honestly not sure if I'd want to live down there, but then I don't have schools to worry about.
Any news yet? We have continued to supply documents over the last few weeks (which makes me hopeful) but this also happened last year and then we were waitlisted. Thinking the same scenario may just be playing out again.
They reached out to me earlier this week because I left something out and I submitted that portion. No other news. Agree with randomperson2... I have mixed TriBeCa feelings. Kind of “soulless”. But I do have a kid and would love to have stabilized rent.
They had me submit documents last year and again this year for a 2-bedroom. My log is in the 19XX. They still have never actually offered me the unit though. Guess someone else keeps getting it. They say I’m still on the waiting list.
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