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$1750 for a 1 BR doesn't really sound affordable to me. I can only imagine what a 2BR is going for. I might be priced out of this one.
Yes, $1,750 is not affordable for individuals making less than 65-70K but with a budget it can be doable. Hard but doable. For what you get it is worth it, IMO. Maybe next year they will have the 80% AMI Lottery and I will have a chance to either get my apartment cheaper or move to a cheaper apartment.
What stormgal said. If you can't afford it, you can't, and that's unfortunate. But it's hugely more affordable than it was the last four times around. And these are probably the biggest actually-maintained apartments renting for $1750 anywhere in Manhattan south of Washington Heights.
I went through two rounds of additional docs sent, last communicated about 2-3 weeks ago now. A little nervous I'm going to get rejected. Anyone else have experience on how long it might take after last submissions of docs?
Does anyone know what number they’re up to yet? I’m a low 4K so I’m holding out hope I’ll eventually be called. I lived in stuytown from 2010-2013 and $1,750 a month is an absolute steal for a 1 bedroom, I had to leave because they were asking $3,900 for a corner 1 bedroom.
I heard of someone with 670 something being called, but that was secondhand info and I couldn't find the post myself. Someone in the mid 400s was the last person who reported getting called that I think is credible.
Yes, $1,750 is not affordable for individuals making less than 65-70K but with a budget it can be doable. Hard but doable. For what you get it is worth it, IMO. Maybe next year they will have the 80% AMI Lottery and I will have a chance to either get my apartment cheaper or move to a cheaper apartment.
One thing always to keep in mind about regulated units is that unless there is some special circumstance rents go one way, up.
Whatever RGB votes each year is all she wrote and tenants either have to pay the increase or find someplace else to live. Rent regulation laws are very tenant friendly, but not being able to afford rent isn't a valid defense in housing court.
There are hundreds of rent stabilized tenants who are essentially rent poor. That is their rent eats up 30% to 50% (or in some worse cases more), of their monthly income. They have no choice but to pay because cannot find anything else cheaper either RS or free market.
BdeB gave RS tenants eight years of a breather, but that's all over come end of this year. Key with RS is always ensure household income outpaces increases. That sadly isn't always what happens.
This is why you hear so many RS tenants (especially in outer boroughs) moaning they cannot afford rent. In many cases legal rent is actually more than what market will bear in certain areas. Yearly increases no matter how small just compound problems.
One thing always to keep in mind about regulated units is that unless there is some special circumstance rents go one way, up.
Whatever RGB votes each year is all she wrote and tenants either have to pay the increase or find someplace else to live. Rent regulation laws are very tenant friendly, but not being able to afford rent isn't a valid defense in housing court.
There are hundreds of rent stabilized tenants who are essentially rent poor. That is their rent eats up 30% to 50% (or in some worse cases more), of their monthly income. They have no choice but to pay because cannot find anything else cheaper either RS or free market.
BdeB gave RS tenants eight years of a breather, but that's all over come end of this year. Key with RS is always ensure household income outpaces increases. That sadly isn't always what happens.
This is why you hear so many RS tenants (especially in outer boroughs) moaning they cannot afford rent. In many cases legal rent is actually more than what market will bear in certain areas. Yearly increases no matter how small just compound problems.
Yes, of course! Rents will always go up eventually. Individuals still have a chance (low chance) to win another lottery (StuyTown or other) in the upcoming years that may have cheaper rent, but I 100% agree that it's better to be able to afford to pay rent than to end up in housing court.
Where you given a housing offer from StuyTown?
"BdeB gave RS tenants eight years of a breather, but that's all over come end of this year."
Depends on who's elected, I think. Eric Adams appointees would extract the most they can from the tenants. Wiley, the opposite. Garcia would probably land somewhere in the middle.
"BdeB gave RS tenants eight years of a breather, but that's all over come end of this year."
Depends on who's elected, I think. Eric Adams appointees would extract the most they can from the tenants. Wiley, the opposite. Garcia would probably land somewhere in the middle.
Landlord costs have been going up for a few years now, it's only because Sam The Eagle and his socialist race baiting class warfare agenda have kept rent increases nil to zero. Regardless of who is elected in November if costs continue to rise something has to give. Otherwise good part of city housing stock will go right back to 1970's - busted.
Increases don't have to be huge, just steady...
Historical average RS increases on one year leases range between 2% -3.5% and 4% to hair under 8% for two year. Those rates barely keep up with inflation, and true LL costs.
OTOH you'd be surprised at how few people (even union) get even a 2% wage increase per year.
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