Waterside Plaza waiting list (Albany: rental, school, median income)

[MurryHillMomma]

As of 7/27/23 I'm still waiting on my application. I'm hoping there is also a preference for residents in the Murray Hill/Kips Bay neighborhood.

[NotWhatUsedToBe]

Originally Posted by MurryHillMomma

As of 7/27/23 I'm still waiting on my application. I'm hoping there is also a preference for residents in the Murray Hill/Kips Bay neighborhood.

1. is there CB preference category?
2. Why "neighborhood" preference, as opposed to CB6 preference?

[macnyc2003]

There is no community preference for this lottery.

[jaynys]

Log #2***, 130% AMI and I got called today to submit but after reading through this thread it doesn't even seem worth it...

[macnyc2003]

What size apartment, and what is the rent? Do you have affordable housing where you are now?

[MurryHillMomma]

I am log #21** and I got a follow up email to submit their Office Questionnaire and Affidavit of Bank Deposits yesterday which I did. The deadline to reply is tomorrow so it sounds like they're moving quickly? I did not receive a call. I'm 160% of AMI for a 2 bedroom. I am not in affordable housing right now (far from it), but I live in Murray Hill and my daughter goes to school in the neighborhood and will probably continue to middle school near Waterside. 2bedroom rent is $3689 and they said it's rent stabilized with 1 year leases increasing 3.25% and 2 year 5%

[WildAboutHarry]

Originally Posted by MurryHillMomma

2bedroom rent is $3689 and they said it's rent stabilized with 1 year leases increasing 3.25% and 2 year 5%

Get that in writing, about it being rent stabilized, and 1 year leases increasing 3.25% and 2 year 5%. Be sure you can enforce what they said.

[jaynys]

Originally Posted by macnyc2003

What size apartment, and what is the rent? Do you have affordable housing where you are now?

one person household so I'm assuming either a studio or a 1 bed. Studios at 130% are $2428, one beds are $2593. I am in a lottery unit now paying just under 2k. Not the biggest fan as its a studio and I have a lot of stuff, plus it doesnt get much natural light. I'd be willing to pay the rent for the one bedroom as the building sounds great, but the lack of rent stabilization is a huge turnoff.

I submitted docs anyway. We'll see.

[macnyc2003]

Originally Posted by WildAboutHarry

Get that in writing, about it being rent stabilized, and 1 year leases increasing 3.25% and 2 year 5%. Be sure you can enforce what they said.

Yes, this is excellent advice from Harry. A Waterside lottery resident had their rent go up $500 in one year because of the AMI increase. So if your unit will be rent-stabilized, that is a recent and good change!

Do not sign a lease unless it says Rent Stabilized. It may be a rider at the end of the lease.

[macnyc2003]

Originally Posted by jaynys

one person household so I'm assuming either a studio or a 1 bed. Studios at 130% are $2428, one beds are $2593. I am in a lottery unit now paying just under 2k. Not the biggest fan as its a studio and I have a lot of stuff, plus it doesnt get much natural light. I'd be willing to pay the rent for the one bedroom as the building sounds great, but the lack of rent stabilization is a huge turnoff.

I submitted docs anyway. We'll see.

Please ask Waterside about rent stabilization because as MurryHillMomma posted, she was told it would be rent stabilized.