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Location: Read the Marketing Handbook, and Income a Guide.
2,013 posts, read 1,631,017 times
Reputation: 480
Quote:
Originally Posted by Gilmoregal
Haven’t received a letter . Is anyone familiar with the area? Is it safe ?
Etc?
Maybe this will give you an idea of the area. It’s three blocks from Stuyvesant Town on E14th St, those blocks have is a newer Target store and a Trader Joe’s. Those companies don’t tend to locate in awful areas. Check the market rate rentals at Stuyvesant Town, a year of rent there can exceed the purchase price at Village East Towers.
Village East Towers. How bad would have to be for you to not be interested a 1 bedroom co-op for $29,618.05 - $37,846.67?
There are 1b market rate units across the street for $795K. There unlikely any 1B MR units in the entire East Village for less than 10x the max price at Village East Towers, and it’s easy to find places for a million, even two million.
Also, there is likely going to be long wait for a vacancy, the area will change likely become more gentrified. So, ask those safe area questions later.
What were the income limits again for the one bedroom? I can't pull it up anymore on the housing connect site.
Second question: how do you submit a change of address if you are on the waiting list for a long time? Thanks.
Third question- does anyone know anything about interiors, floor plans, terraces etc? Thank you.
What were the income limits again for the one bedroom? I can't pull it up anymore on the housing connect site.
Second question: how do you submit a change of address if you are on the waiting list for a long time? Thanks.
Third question- does anyone know anything about interiors, floor plans, terraces etc? Thank you.
Location: Read the Marketing Handbook, and Income a Guide.
2,013 posts, read 1,631,017 times
Reputation: 480
Quote:
Originally Posted by readysteady
Second question: how do you submit a change of address if you are on the waiting list for a long time? Thanks.
Third question- does anyone know anything about interiors, floor plans, terraces etc? Thank you.
There must be a way to do change of address. Likely with the management company once the initial application is on file.
There seems to be a lack of floor plans and interior images on the net, and this is true of other Mitchell Lama buildings too. I suspect the slow turnover of units makes the need for promotion very low, and contributes to the lack of floor plans and pictures that are typical with promotion. The low purchase price and fees are all the promotion required to keep demand high.
I got a letter. Is it litterally only one unit available and not multiple units?
As units come available, they contact the next person on the waitlist. So as of this very moment, there may not be ANY 1brs available. We just have to fill out the app and wait.
Location: Read the Marketing Handbook, and Income a Guide.
2,013 posts, read 1,631,017 times
Reputation: 480
Quote:
Originally Posted by BPC1999
As units come available, they contact the next person on the waitlist. So as of this very moment, there may not be ANY 1brs available. We just have to fill out the app and wait.
More Bad News, this lottery is for a NEW waitlist and that does not mean the end of the existing waitlist has been reached. Good News, Mitchell-Lama co-ops typically are the best value available and worth waiting for. If you are lucky enough to get one of the limited log#s just fill out the app, pay the fee, and wait.
A significant wait is almost always required at a Mitchell-Lama co-op. And a purchase is required. It’s ethical to know this before making an application. Because log#s are capped it is selfish to enter Mitchell-Lama lottery if there is little chance that the person would ever take it. This is because such an unlikely applicant might get a log# and block a more genuine applicant from getting a log#.
More Bad News, this lottery is for a NEW waitlist and that does not mean the end of the existing waitlist has been reached. Good News, Mitchell-Lama co-ops typically are the best value available and worth waiting for. If you are lucky enough to get one of the limited log#s just fill out the app, pay the fee, and wait.
A significant wait is almost always required at a Mitchell-Lama co-op. And a purchase is required. It’s ethical to know this before making an application. Because log#s are capped it is selfish to enter Mitchell-Lama lottery if there is little chance that the person would ever take it. This is because such an unlikely applicant might get a log# and block a more genuine applicant from getting a log#.
Do existing waitlists ever expire? My StuyTown waitlist spot will expire after 2 years. Is Mitchell Lama similar?
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