Even 130% AMI can’t afford these rents (Greene: apartments, rent stabilized apartments)
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.
The newest listings have 1 bedrooms starting at $2800 and higher for the nicer buildings. This is very close to market rates. If even those of us in the 130 ami brackets can’t afford these apartments then this project is a failure. I make 100k+ yearly and have a 750 credit score and these apartments are not affordable for me.
The newest listings have 1 bedrooms starting at $2800 and higher for the nicer buildings. This is very close to market rates. If even those of us in the 130 ami brackets can’t afford these apartments then this project is a failure. I make 100k+ yearly and have a 750 credit score and these apartments are not affordable for me.
$2,800 is nothing close to market rate for 1 BR's. One BR's in Ft. Greene/DT BK are at $4,000.
I do agree it is a bit much for anyone not at the very top end of 130 AMI.
I also don't understand the POO_POO for rent stabilization. I got a rent stabilized apartment 4 years ago and I'm paying $2,800 in an area where market rate is $4,000 or more. The value in RS is not today. It's if you expect to stay put for 5 years or more.
Rent stabilization means nothing if you cant even afford the "affordable rent"
Its not like finding a rent stabilized place is impossible. I've only ever lived in rent stabilized apartments and they were not through the lottery, now rent controlled is a different story-that is hard to find!
If you think you can't afford the rent stabilized price that is offered by the HC lottery, you can always look for the RS apartment on StreetEasy that fits your budget, it's plenty out there & you may avoid any (lottery) hassle too!
But keep in mind, besides the rent payment & security deposit, you may need to pay a hefty amount for a broker fee. Do the calculation which one is more worth it. Good luck!
It’s not always hearty. I’ve only ever paid 1 months rent for the brokers fee.
The issue here is that these places are not affordable which is something that has been discussed a number of times. These developers are gentrifying and then on top of that providing “affordable housing” to mainly 130AMI ONLY. And then some of the rent for the 130AMI isn’t even affordable. They are having to repost these places to fill the higher AMI
Essentially making it harder for those who need affordable housing to get affordable housing.
We can only make a guess on the reasons why these developers reposted their available units but in reality we don't know the exact reasons. We kept saying none wanted these units but in reality some of us have been waiting for years to get an apartment through lottery. Also, many people who got the units are not members in this forum for example my colleague who just won a 1BR unit at 80% AMI. The developers may think it's okay to put up that price because they were able to fill up the apartments anyway.
Quote:
Originally Posted by Gilmoregal
It’s not always hearty. I’ve only ever paid 1 months rent for the brokers fee.
The issue here is that these places are not affordable which is something that has been discussed a number of times. These developers are gentrifying and then on top of that providing “affordable housing” to mainly 130AMI ONLY. And then some of the rent for the 130AMI isn’t even affordable. They are having to repost these places to fill the higher AMI
I guess so . my point is that rent stabilization is nothing special in this city. You can find it if you look for it now affordability is the real issue
I got your point but again, these are all about business & our POV is unfortunately different from these developers POV.
Quote:
Originally Posted by Gilmoregal
I guess so . my point is that rent stabilization is nothing special in this city. You can find it if you look for it now affordability is the real issue
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.
