Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
People with CB preference for this building have reason to be happy, in my opinion.
Here's why:
This is my community board, and there is a CB preference for this development. Based on what my friend went through in 2015 for a building in our CB, this is what I came to realize:
1) This is a pretty affluent CB overall. There are some NYCHA buildings, but they're small. There are no large NYCHA developments in this CB that I know of. The CB lacks low-income housing in general. So there will not be a large pool of lower income folks who will be applying for this building.
You will basically be competing against new grads making bupkis in their interesting but low-paid jobs as stage managers for an Off Broadway theater and living with Mom and Dad in Gramercy Park.
It seems to me that it's going to be pretty difficult for the developer to find enough qualified people for the CB allotment.
2) This is a large lottery, with 109 units, most of them in the 40% and 60% bands. Those will be particularly tough to fill.
3) This CB has had several 80/20 developments recently. A couple have been quite large, such as American Copper and 225 East 39th St. Those may have already depleted the ranks of lower income residents who qualify.
If you lack CB preference but have a relatively low log number, don't despair. Your turn will come.
It will be interesting to see how this plays out! Good luck to all!
Last edited by macnyc2003; 09-26-2018 at 10:03 AM..
I emailed the applicant email address and got an update to my number! We're about 70!
According to the last time they updated the online list, we were about 180! From February! 110 spots in 7 months. That seems crazy that next year at this time, we could be proud members of Penn South. I'm not complaining! Good luck everyone.
That's great news! Where did you find the email applicant address?
Hi, I have just been notified to view an apartment and I found out the monthly carrying charges has increased significantly from this post a year ago. And because of this I do not meet the minimum requirement. However, I am receiving cash gift each month from my son and my daughter. Anyone know if Penn South consider cash gift as income? Thx.
Hi meowmeow18,
That's great that you got a letter to see an apartment! I think that they don't care where the cash comes from to actually buy the apartment, but they do have a minimum income to see if the applicant can afford the maintenance each month.
Thanks hkcg, I am looking at a 2.5rms studio.
But I might not meet the minimum income requirement :'(
They have increased the carrying charge for a studio by $150/mon comparing to what I saw in the post a year ago..... I am hoping they can count the support I received from my children towards my income to satisfy the requirement.
People with CB preference for this building have reason to be happy, in my opinion.
Here's why:
This is my community board, and there is a CB preference for this development. Based on what my friend went through in 2015 for a building in our CB, this is what I came to realize:
1) This is a pretty affluent CB overall. There are some NYCHA buildings, but they're small. There are no large NYCHA developments in this CB that I know of. The CB lacks low-income housing in general. So there will not be a large pool of lower income folks who will be applying for this building.
You will basically be competing against new grads making bupkis in their interesting but low-paid jobs as stage managers for an Off Broadway theater and living with Mom and Dad in Gramercy Park.
It seems to me that it's going to be pretty difficult for the developer to find enough qualified people for the CB allotment.
2) This is a large lottery, with 109 units, most of them in the 40% and 60% bands. Those will be particularly tough to fill.
3) This CB has had several 80/20 developments recently. A couple have been quite large, such as American Copper and 225 East 39th St. Those may have already depleted the ranks of lower income residents who qualify.
If you lack CB preference but have a relatively low log number, don't despair. Your turn will come.
It will be interesting to see how this plays out! Good luck to all!
I hope you are right and fingers crossed for a sparse top AMI
Thanks hkcg, I am looking at a 2.5rms studio.
But I might not meet the minimum income requirement :'(
They have increased the carrying charge for a studio by $150/mon comparing to what I saw in the post a year ago..... I am hoping they can count the support I received from my children towards my income to satisfy the requirement.
meowmeow18
Hi meowmeow18,
If you are looking at apartments now, I would ask the management about the income. From reading previous posts, they ask for your most recent tax returns, but they don't verify your income until you are offered an apartment. Someone who has gone through the process can obviously provide more details.
Do you mind if I ask about your number on the waitlist when you were sent the letter to look at apartments?? You don't have to be exact, but I'm just curious how the list is moving since I'm on the studio list too.
I asked the management but they told me my questions would be answered once the apartment is actually offered to me. According to the letter I am in the 20s and I was invited to view two high floor studios with balcony and they were both truly amazing. It was so high up I could see the Hudson River and the Freedom Tower. But I am sure people in front of me would snatch it in a heartbeat. Just keeping my fingers crossed.
Thanks! And good luck to you as well!
I am really happy to have found this forum to share the information and the experience.
I asked the management but they told me my questions would be answered once the apartment is actually offered to me. According to the letter I am in the 20s and I was invited to view two high floor studios with balcony and they were both truly amazing. It was so high up I could see the Hudson River and the Freedom Tower. But I am sure people in front of me would snatch it in a heartbeat. Just keeping my fingers crossed.
Thanks! And good luck to you as well!
I am really happy to have found this forum to share the information and the experience.
meowmeow18
Wow - the apartments sound amazing! One more question if you don't mind: did you specifically request a balcony apartment, or are you on the "either" list?
And yes, the forum is incredibly helpful, and as you can see, whenever someone gets the letter and/or gets an apartment, they are extremely helpful with all our questions!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
