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My log number is 38XXX and I believe i fall in the 130% range ($105K income). How likely will it be that I get contacted to sign?
I already submitted my docs as per the May 11th request. Bonus points if you know the timeline for when things will be known because my current lease ends 08/31/23.
My log number is 38XXX and I believe i fall in the 130% range ($105K income). How likely will it be that I get contacted to sign?
I already submitted my docs as per the May 11th request. Bonus points if you know the timeline for when things will be known because my current lease ends 08/31/23.
It's hard to say after the first round of doc requests. for my apartment in a different building, it took 3-4 months from the first request to move in. Having preferences like already living in the neighborhood or being a city worker or having a disability might speed things up.
My log number is 38XXX and I believe i fall in the 130% range ($105K income). How likely will it be that I get contacted to sign?
I already submitted my docs as per the May 11th request. Bonus points if you know the timeline for when things will be known because my current lease ends 08/31/23.
It's really hard to say, because these timelines vary from building to building. But I'd say with you being in the higher AMI bracket, there's a much higher likelihood of you getting through the entire process, because sometimes people in that range don't always find the value when it comes to the amount of rent they'd be paying for the size they'd be getting. And personally, I feel like in general, (I have no stats to back this up..this is totally my guess), that most of the people who apply to these aren't that high up in the income bracket so there aren't as many folks competing for the same spot.
"I feel like in general, (I have no stats to back this up..this is totally my guess), that most of the people who apply to these aren't that high up in the income bracket so there aren't as many folks competing for the same spot."
When numbers have been released, they generally support this contention. It's an arduous and invasive process to go through if you don't have to, and many middle-class people just aren't even used to having to deal with government programs and the agents who handle them.
My log number is 38XXX and I believe i fall in the 130% range ($105K income). How likely will it be that I get contacted to sign?
I already submitted my docs as per the May 11th request. Bonus points if you know the timeline for when things will be known because my current lease ends 08/31/23.
For all the reasons others have mentioned 130% folks are less likely to enter and then less likely to accept a lotto unit so it can be a lot easier to "win" if you fall in those groups. That said, the competition from 130%+ households is greater for high-luxury buildings with more impressive locations and amenities (like ruby, brooklyn crossing, the hudson yards buildings etc.) because even those at 130%+ AMIs can't afford market-rate units in these types of buildings. They are more likely to see the value of going through the lengthy and stressful process. It is, of course, still easier than for those at AMIs under 100% for these same buildings. I would say that your log is pretty high, even as a high AMI person and particularly because this is a desirable location and building.
Check out some of the spreadsheets where folks have been sharing their numbers and status for similar buildings. For example, brooklyn crossing is similar to ruby in terms of amenities and desirability and it looks like they are going to fill the ~250 units in the mid single digit thousands log, and BC doesn't even have preferences taking up a portion of the units, which ruby has. It sounds like you have preference, which will definitely help.
For all the reasons others have mentioned 130% folks are less likely to enter and then less likely to accept a lotto unit so it can be a lot easier to "win" if you fall in those groups. That said, the competition from 130%+ households is greater for high-luxury buildings with more impressive locations and amenities (like ruby, brooklyn crossing, the hudson yards buildings etc.) because even those at 130%+ AMIs can't afford market-rate units in these types of buildings. They are more likely to see the value of going through the lengthy and stressful process. It is, of course, still easier than for those at AMIs under 100% for these same buildings. I would say that your log is pretty high, even as a high AMI person and particularly because this is a desirable location and building.
Check out some of the spreadsheets where folks have been sharing their numbers and status for similar buildings. For example, brooklyn crossing is similar to ruby in terms of amenities and desirability and it looks like they are going to fill the ~250 units in the mid single digit thousands log, and BC doesn't even have preferences taking up a portion of the units, which ruby has. It sounds like you have preference, which will definitely help.
This is interesting. Cause I was just thinking about how high up they are in log numbers for Ruby for those that have CB preference. I think they need to fill about 70 or so units(?).. so it's interesting to see how they're up to around 40,000 now just to fill that up.
Either way, still keeping my fingers crossed that I have a shot at a 1bedroom when its finally time for general pop
For all the reasons others have mentioned 130% folks are less likely to enter and then less likely to accept a lotto unit so it can be a lot easier to "win" if you fall in those groups. That said, the competition from 130%+ households is greater for high-luxury buildings with more impressive locations and amenities (like ruby, brooklyn crossing, the hudson yards buildings etc.) because even those at 130%+ AMIs can't afford market-rate units in these types of buildings. They are more likely to see the value of going through the lengthy and stressful process. It is, of course, still easier than for those at AMIs under 100% for these same buildings. I would say that your log is pretty high, even as a high AMI person and particularly because this is a desirable location and building.
Check out some of the spreadsheets where folks have been sharing their numbers and status for similar buildings. For example, brooklyn crossing is similar to ruby in terms of amenities and desirability and it looks like they are going to fill the ~250 units in the mid single digit thousands log, and BC doesn't even have preferences taking up a portion of the units, which ruby has. It sounds like you have preference, which will definitely help.
Im not sure looking at Brooklyn crossing will give a good idea of what log number will be reached. A studio at BC was less than 2k and that was just a year ago- it’s a completely different proposition at Ruby and BC was a good deal for those in the 130 category. Ruby is a harder sell for the same Ami especially if you are a single household. Agree on everything else you said here though!
Just to clarify I do not have a CB preference. I live in Midtown west, but my license still has my parents house outside of the city. Main reason why i want to move is because right now I have a roommate and pay $2.2K. I can fork up more money to live in a building like the ruby
My log number is 38XXX and I believe i fall in the 130% range ($105K income). How likely will it be that I get contacted to sign?
I already submitted my docs as per the May 11th request. Bonus points if you know the timeline for when things will be known because my current lease ends 08/31/23.
Just to clarify I do not have a CB preference. I live in Midtown west, but my license still has my parents house outside of the city. Main reason why i want to move is because right now I have a roommate and pay $2.2K. I can fork up more money to live in a building like the ruby
Does anyone have any updates? Still nothing on my end since they acknowledged receiving my docs on May 9th. I’m relatively low log under 5,xxx with CB
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