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Does anyone know WHY they extend deadlines in the middle of a lottery?? If it’s because not enough people applied, why is that an issue?! I get so frustrated when a lottery I’m interested is days away from ending, only to check back and see that the deadline has suddenly been pushed back a month. It is hard enough to ever win one of these places, so why are they making our chances even worse by allowing the pool to now double?? Basically I just don’t see how this matters on their end — yet it absolutely matters on ours. So aggravating.
Most recently an Astoria one, but this has happened with several I’ve been interested in lately. It’s just a bummer when you’re ready for one to end!
Does anyone know WHY they extend deadlines in the middle of a lottery?? If it’s because not enough people applied, why is that an issue?! I get so frustrated when a lottery I’m interested is days away from ending, only to check back and see that the deadline has suddenly been pushed back a month. It is hard enough to ever win one of these places, so why are they making our chances even worse by allowing the pool to now double?? Basically I just don’t see how this matters on their end — yet it absolutely matters on ours. So aggravating.
You answered your own query..
Those running lottery certainly know how many entries have been received. If that number isn't what they would like things are extended instead of running out the clock.
It's either this or go through lottery with low turnout only to find not enough applicants qualify. Then either things must be opened up again and so forth.
There is over two decades of experience with lottery multi-family in NYS/NYC. By now industry most surely has a handle on how many applicants represent a viable pool.
it's the same pretty much with many other things as well. If an employer lists a job opening and doesn't get sort of response anticipated may hold off making a decision until more applicants apply.
Some of these lotteries have so many applicants they are beating them back with sticks. Others not so much for various reasons.
Those running lottery certainly know how many entries have been received. If that number isn't what they would like things are extended instead of running out the clock.
It's either this or go through lottery with low turnout only to find not enough applicants qualify. Then either things must be opened up again and so forth.
There is over two decades of experience with lottery multi-family in NYS/NYC. By now industry most surely has a handle on how many applicants represent a viable pool.
it's the same pretty much with many other things as well. If an employer lists a job opening and doesn't get sort of response anticipated may hold off making a decision until more applicants apply.
Some of these lotteries have so many applicants they are beating them back with sticks. Others not so much for various reasons.
But with Gotham South for instance, that lottery was extended and wound up with over 100k entries. So let’s say for argument’s sake that half of those were received before the deadline extension (although I’d assume it was even more since it was so popular and people were anticipating that lottery). How is 50k not enough to move forward with?
But with Gotham South for instance, that lottery was extended and wound up with over 100k entries. So let’s say for argument’s sake that half of those were received before the deadline extension (although I’d assume it was even more since it was so popular and people were anticipating that lottery). How is 50k not enough to move forward with?
I've been wondering the same thing about that. It's peculiar.
From what I've observed on here, in the big buildings (talking a few hundred apartments in the lottery) it is almost unheard of for people to hear back if their log number is over 20,000, and as far as I can tell, if you're over 5,000 there's still a sizeable question mark over whether you will hear or not - 20k would be rare!
I've been wondering the same thing about that. It's peculiar.
From what I've observed on here, in the big buildings (talking a few hundred apartments in the lottery) it is almost unheard of for people to hear back if their log number is over 20,000, and as far as I can tell, if you're over 5,000 there's still a sizeable question mark over whether you will hear or not - 20k would be rare!
From what I've seen its mainly with ones they have a harder time filling the higher AMI bracket. They often re post the same lottery later with "units still avail" for higher AMI. Not sure if they can see how many ppl in each AMI apply but thats a pattern I've noticed.
They know (and we know) they have no issue filling spots for AMIs 80% & lower.
From what I've seen its mainly with ones they have a harder time filling the higher AMI bracket. They often re post the same lottery later with "units still avail" for higher AMI. Not sure if they can see how many ppl in each AMI apply but thats a pattern I've noticed.
They know (and we know) they have no issue filling spots for AMIs 80% & lower.
They tend to have issues filling high AMI units in mediocre buildings because people in those brackets can get similar/better apartments and/or more desirable locations for the same (or only slightly more) money. Why would they go through the crazy lotto +qualifying process? Personally, I still think it's worth it for the RS even if the initial discount isn't huge but some people feel differently. Moving is a big drag too and people with more $$ have more choices.
Last edited by linamonroll; 08-04-2022 at 12:26 PM..
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