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.
Hello,
My daughter is nearing the top of the studio wait list and unfortunately was unemployed for several months due to Covid. Although she has savings for a nice down payment her recent employment looks pretty bleak on paper. Does anyone know how Penn South is considering Covid-affected employment? Also, my parents both passed away recently and I could help her with a sizeable down payment to lower her month costs. Is that allowed? Thanks for any insights!
Hi bcohen217,
First, I'm sorry to hear about your parents. My condolences.
As far as the down payment goes, all Carmen receives from your daughter is a cashier's check for the down payment. She will neither know nor care about the source of the money. Fortunately I was able to pay the full amount for my apartment, so I gave her the check, signed some papers, and she gave me the keys. It took under an hour to complete the closing.
if you work with the credit union, I'm sure they will be very reasonable because of your daughter's unemployment. She is clearly not alone. And PS doesn't want empty apartments!
Oh, so exciting! Please report back. There are so many people on here who will want to know what she thought, how many apartments she saw, what condition were they in, etc.
Also, one tip for her in case you haven't read through this thread: Of the apartments she is viewing today, she should not decline any one. Even if there are a couple she doesn't love, she should say she would accept any of the apartments offered.
Of this batch, she may not even be offered one, so she shouldn't waste her one refusal on an apartment she wasn't even going to get.
In any event, maybe a current resident can explain it better, but this is what I gleaned from reading this thread and the previous one, all 150 pages of it.
Yes! Tell her to just say yes to everything and then when she is in she can always request a different apartment when the times comes that she is able to.
Best of luck to your daughter and please ask her to tell you everything because we want to know all the places she looked at! lol :P
Today we saw 7 studios - 3 with balconies and 4 E line studios without balconies. All of the floors were re-finished and lovely - some parquet and some strip "wood". Bathrooms looked great too! All of the units had brand new heating/air conditioning units. My daughter could not be more excited. Prices of course have risen since we first looked at apartments before she left for school in 2016 but even so there is not a single apartment that she could not be happy living in - though the ones with balconies would be preferable (and $17K more $$). She's #9 in line for the 7 apartments so she may not be offered any of these but our fingers are crossed. The grounds were so wet and green and lush today!
I bet she does get offered an apartment in this round and even will get a choice. I would put money on it. Does your daughter have a preference? Did they all seem about the same size? How about the kitchens? Will some need work?
With my daughter, it will be about the location. She wants to be near the subway.
Thanks so much for reporting back. And I’m so happy for your daughter!
Last edited by macnyc2003; 10-29-2020 at 06:10 PM..
OMG you really think so? Her preference is one of the apartments with a balcony even though it's a bit more $$. Of the 3 with balconies that we saw, one had a large kitchen and two had small kitchens. She loves to cook so I hope the one with the big kitchen comes through. All of the kitchens were vintage but fine for her, bathrooms looked updated and really clean. All need kitchen and closet floors but the general floor areas were lovely and freshly re-finished. For reference, she won the 2014 lottery and we saw apartments 2 years later and then put her application on hold while she went away to school. Once she un-froze it, she was called to see apartments within a month.
Speaking of purchasing: looks like they updated the purchase pricing list to be current for Nov 2020.
I feel like they've been doing a lot of updating for this quarter. I moved so many spots the first 2 weeks of October, the above showings, and the updated price list. And now you can view the waiting list on your phone without switching to desktop mode.
OMG you really think so? Her preference is one of the apartments with a balcony even though it's a bit more $$. Of the 3 with balconies that we saw, one had a large kitchen and two had small kitchens. She loves to cook so I hope the one with the big kitchen comes through. All of the kitchens were vintage but fine for her, bathrooms looked updated and really clean. All need kitchen and closet floors but the general floor areas were lovely and freshly re-finished. For reference, she won the 2014 lottery and we saw apartments 2 years later and then put her application on hold while she went away to school. Once she un-froze it, she was called to see apartments within a month.
Yes, I do think she will be offered an apartment or, more likely, a choice. I can’t explain why it happens, but applicants tend to disappear, not qualify, change their minds, etc. There was someone who posted here who was like No. 15, and she got offered her choice of five! What became of the people in front of her, I have no idea.
So now you have to wait and see what happens. Also, I want to say you are a wonderful parent for offering to help your daughter with the down payment.
Keep in mind that after she lives there three years, she can go on the internal list for a larger apartment or just a different one, and she would be able to specify what she wants.
I think a lot of people have left the city, especially those who are able to work from home. And many are reassessing their housing needs. I definitely think NYC will have a Renaissance, but it might be a few years away. In the meantime, it’s a good time to buy or rent an apartment with less competition!
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.
