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The only reason I applied the housing lottery at that time because I wanted to live in the building where I am now but I can't afford it because the MR rent is crazy, we are talking about a studio $4500 & up, 1BR $5500 & up, 2BR $8000 & up. So it's literally my dream home, one & only!
I was lucky to win a unit at 120% AMI instead of 130% AMI, though I wouldn't mind because the rent price is still wayyy cheaper. My alcove studio MR rent price is $5300 now & here I am, paying less than $2K.
Similar here. 130% and my rent is just over 2k for a 1br while MR in my building are 4-7K and up. I couldn't afford to live in a building like I do without the lotto. Sure, I could probably find *an* apartment for the same price MR but it would be the very bottom of the market, poor location, old building, no amenities etc. The RS aspect is the cherry on top for me, the stability is unmatched without owning.
Basically the same for us. And honestly why I'm not even too fussy about whether or not it has the same appliances as market rate etc (though I'm lucky that my place does) - could I afford to pay $5-6k for a market rate 2-bed with Bosch /SMEG etc appliances (not to mention amazing views and high ceilings and 24/7 doormen and swimming pools and so on)? Heck no. And those apartments we can afford at like $3k per month for a 2-bed, well, they most certainly won't have Bosch appliances or the rest either.
No matter what people think about whether those in 130% AMIs should be in the lottery, the majority of us can't afford market rate in luxury buildings, certainly in more desirable parts of town.
And rent stabilization is indeed a (very nice) bonus to have. I know too many people whose rent has suddenly shot up by 15 or 20% and now they need to move.
The only reason I applied the housing lottery at that time because I wanted to live in the building where I am now but I can't afford it because the MR rent is crazy, we are talking about a studio $4500 & up, 1BR $5500 & up, 2BR $8000 & up. So it's literally my dream home, one & only!
I was lucky to win a unit at 120% AMI instead of 130% AMI, though I wouldn't mind because the rent price is still wayyy cheaper. My alcove studio MR rent price is $5300 now & here I am, paying less than $2K... and rent-stabilized!!
RS is the main reason I started applying. We could never afford to live here otherwise, maybe a studio instead of a 3 bedroom unit. We have a view from Wall Street to Billionaire's Row, not to mention downtown BK, Greenpoint and LIC.
RS is the main reason I started applying. We could never afford to live here otherwise, maybe a studio instead of a 3 bedroom unit. We have a view from Wall Street to Billionaire's Row, not to mention downtown BK, Greenpoint and LIC.
Most lotteries offer studios, 1BRs, a handful of 2BRs, & a VERY rare 3BRs! So you are truly blessed! Don't let go that 3BR unit (moreover in The Dime) unless you decide to buy a property.
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Originally Posted by dime99
Thanks! Honestly, I never dreamed we would get something like this. It's been two years and I'm still super grateful for it ALL.
Check out the other two pictures, I forgot to add them before.
Thanks! I keep telling myself... NYC has no shortage of luxurious apartment buildings with an impressive amenities but when you were 'landed' in one where your workplace is on your doorstep with an amazing landlord that prioritizes their tenants' well being by maintaining their building professionally plus not greedy, & pet friendly... That's what I call it a blessing!!!
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Originally Posted by dime99
Seriously, real lottery winner. 120AMI too!
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Originally Posted by BritinNYC
Totally Gorgeous! Lucky you
Last edited by someoneinqueens; 10-13-2022 at 08:49 AM..
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