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Good evening. I am currently a Penn South resident and have lived here over 12 years as someone's partner. Does anyone know if I would be able to get an apartment transfer for myself? Thank you.
like you broke up with a partner and would like transfer to a different apartment on your own?
Can anyone who's upgraded to a bigger apartment take us through the financial process? Say for example, I don't want to get a mortgage, and want to pay off everything in cash. If a bigger apartment is $110K, and you paid $100K in cash for your current apartment, would you only need to have $10K on hand? Or does Penn South require you to purchase the new apartment, and then they give you back the $100K once someone else purchases your old apartment? Or will you be allowed to just pay off the difference between the apartments? I know that we have shares and don't really "own" the apartments, but I figured this is an easier way of thinking about it.
Thanks for any insight!
I had a very similar question myself. I am assuming you would have to sell your current shares before buying new shares, but we will see what an insider says.
like you broke up with a partner and would like transfer to a different apartment on your own?
I think that unless you are on the stock certificate, you would not be considered an actual resident for transfer purposes. However, those are just the Mitchell Lama rules and PS is not a Mitchell Lama. When in doubt, ask!
I think that unless you are on the stock certificate, you would not be considered an actual resident for transfer purposes. However, those are just the Mitchell Lama rules and PS is not a Mitchell Lama. When in doubt, ask!
i'm asking for clarification from the OP but i'm 99% sure the answer is no.
a married couple gets divorced and both of their names are on the certificate, they have decide who keeps the apartment or who goes elsewhere. i asked about this scenario (jokingly) during my meeting with Carmen and that was the answer.
I live in an ML in Queens. Been here my entire life, literally. I was told I am not even considered an occupant for a transfer to my own place (but I AM considered an occupant for succession rights). They said whosever name is on the stock certificate is considered an occupant for transfer purposes. So the fact that PS won't even let divorced spouses whose names are both on it means they are probably stricter with this than my ML.
But OP, it never hurts to ask! See what they say. The only person whose opinion matters here is Carmen.
I have a question on Penn South's requirements on the family composition. I am an applicant of a 2 bedroom apartment. I know that the residency requirement for the initial applicant (me) has to live in NYC, but does Penn South require all persons listed on the form to also live in NYC???
I just did a grocery run for a neighbor in another building, and there was a moving company moving someone out (or at least some furniture was being moved out), so I wouldn't be surprised if they start showing apartments soon. It's just speculation on my part, but they don't want 40 apartments to remain empty for long!
I just did a grocery run for a neighbor in another building, and there was a moving company moving someone out (or at least some furniture was being moved out), so I wouldn't be surprised if they start showing apartments soon. It's just speculation on my part, but they don't want 40 apartments to remain empty for long!
hkcg
1. the last 2 weeks i've seen moving vans taking things out and seen others taking things in.
2. internal moves are definitely happening. i know one person moving from a studio to 1 BR apartment.
3. i've seen chatter indicating the coop already started showing apartments. It was mentioned since the current reopening phase allows for RE agents to begin showings in the city, PS was following suit.
4. the empty apartment next to mine no longer has the police sticker on it. i hear entries in and out of the apartment, definitely maintenance people entering so we're assuming they'll be getting it ready for a viewing at some point in the future.
4. the empty apartment next to mine no longer has the police sticker on it. i hear entries in and out of the apartment, definitely maintenance people entering so we're assuming they'll be getting it ready for a viewing at some point in the future.
Thanks for the info! Why was there a police sticker on the door? Did the resident die in there?
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