The Rennie- affordable condo purchase (schools, taxes, price) - New York City Housing Lottery - Page 2 - City-Data Forum

pink snake · 02-19-2021, 10:42 AM

I believe the deal is that after owning for 25 years, you're able to sell it for whatever price you want. Prior to that, you get back what you paid for it.

upperwest11 · 02-22-2021, 02:38 PM

I also received an email (and submitted) requesting paperwork. I have my fingers crossed!

pink snake · 02-22-2021, 04:57 PM

Quote:

Originally Posted by upperwest11

I also received an email (and submitted) requesting paperwork. I have my fingers crossed!

Congrats and good luck! I'm still trying to figure out if it's a good deal for me! Are you certain you'll take it if it's offered to you?

upperwest11 · 02-23-2021, 09:33 AM

Thank you. I would yes, I love Harlem so this would be ideal for me. I wonder how long this will take after all paperwork is submitted?? I imagine they wouldn't reach out if the apartment wasn't immediately ready for you. I also have many questions regarding maintenance fees, etc.

pink snake · 02-23-2021, 09:44 AM

Quote:

Originally Posted by upperwest11

Thank you. I would yes, I love Harlem so this would be ideal for me. I wonder how long this will take after all paperwork is submitted?? I imagine they wouldn't reach out if the apartment wasn't immediately ready for you. I also have many questions regarding maintenance fees, etc.

Yeah, the maintenance fee is a big question for me, too. Please share any info and I will do the same!

pink snake · 02-23-2021, 09:46 AM

I attended the information session that was held at the church near the Rennie. That was a long time ago. Pre-COVID.

upperwest11 · 02-23-2021, 10:15 AM

Will do!

Starapplez · 02-23-2021, 01:52 PM

Quote:

Originally Posted by pink snake

I got an email requesting that I send in documents. I was initially excited, but feeling more on the fence now. I qualify for a one bedroom. Do you guys think this is a good deal? The building seems nice. The neighborhood isn't my favorite. I dunno. I plan on submitting paperwork and going along for the ride.

If you don't have any kids to care about school quality, i'd say take it.
Based on maintenance for the market rate ones, I'd say it's less than $1000 a month

Starapplez · 02-23-2021, 02:00 PM

Good luck, y'all. I'm jealous. Lemme know how it goes

pink snake · 02-23-2021, 02:05 PM

I feel like it's a great deal if you love Harlem and especially if you're planning on sticking it out for the 25 years until you can sell for market rate. I'll be old as hell by then LOL.