Penn South 2023 Lottery and Wait List (sale, coops, first time home buyer)

[macnyc2003]

Originally Posted by mjg713

I actually have not received any email yet, just the log # on the Mitchell Connnect website. I’m sure I will get it soon. So are you saying that the Studio and 1 bedroom #’s are on the same list? I was under the impression it was two separate lists. Do you have any idea on when J may be reached? I’m thinking within 3-4 years. Also, would you happen to know if I would be eligible to use the HomeFirst Down Payment assistance program with this property?

Yes, the one-bedroom list and the studio lists are separate. For those who are lucky enough to have been accepted to both, you must resign from one.

In 2019, when my daughter was selected, she was originally given a high number, 580, because the three lists had not been separated out. When she received her actual number, she was around 250.

I don't know if the number you have received is the allover number or the number just for your list. We have to wait and see.

Also, though, only the people who fill out the application and send in the money will get on the list. There is a percentage of people who won't follow through, and so your number may improve that way.

I am not familiar with the HomeFirst Down Payment assistance program. You would have to find out if it can finance Mitchell Lama and other limited-equity housing programs. Penn South is NOT a Mitchell Lama but is in the second category.

Congrats to you and everyone who made it onto the list!

[mjg713]

Originally Posted by pethian

Congrats to those who have gotten the good news. Were you contacted by mail? My brother is old school and mailed in his lottery entry so I was assuming he'd be contacted one way or the other by mail.

I haven’t been contacted through mail or email yet. Just the log # showing in Mitchell Lama Connect.

[mjg713]

Originally Posted by macnyc2003

Yes, the one-bedroom list and the studio lists are separate. For those who are lucky enough to have been accepted to both, you must resign from one.

In 2019, when my daughter was selected, she was originally given a high number, 580, because the three lists had not been separated out. When she received her actual number, she was around 250.

I don't know if the number you have received is the allover number or the number just for your list. We have to wait and see.

Also, though, only the people who fill out the application and send in the money will get on the list. There is a percentage of people who won't follow through, and so your number may improve that way.

I am not familiar with the HomeFirst Down Payment assistance program. You would have to find out if it can finance Mitchell Lama and other limited-equity housing programs. Penn South is NOT a Mitchell Lama but is in the second category.

Congrats to you and everyone who made it onto the list!

That’s very interesting, thank you for this information. It would be great if my number happens to be even lower! Do you know what they ask for in regards to residency? I currently rent from a friend (also in NYC) , but have no lease and use my parent’s address for mail etc. I don’t want to cause any confusion when the time comes. Thank you for the well wishes!

[macnyc2003]

I have a document list around here somewhere. I will let you know if I find it.

But time is on your side! You have a couple of years to prepare.

Start now to document and firm up your current living situation. You should definitely have a lease or sublease. Ask your friend for one. It can be as simple as one off the internet. Just make sure it's signed correctly, etc. Also, I would recommend picking one address and use that for all mail. When you are eventually called for an apartment, you will have to submit tax returns, etc. You want the same address on all of them. Make sure the address is within New York State.

The fewer red flags you generate, the better. The process likes orderliness! LOL

Plus, in order to fill out the application, you will need a government-issued photo card. My son-in-law tried to use a passport card, and it was not accepted. Make sure you have a driver's license or a non-driver's license from NYS.

[macnyc2003]

I found the document list. Keep in mind this is from the 2019 lottery, and your experience in a couple of years may be different:

Documents needed after viewing apartments and accepting one of them:

Employment and Income Verification for All Occupants

1. 2020 W-2s
2. Certified 2019 and 2020 New York State income taxes returns, available NYS Dept. of Finance, complete form “Request for Copy of Filed Tax Return”, www.tax.ny.gov
3. 2019 and 2020 Transcript of Federal Tax Returns (1040), available from www.irs.gov./individuals/get-transcript ,
4. 1099 for 2020 for those who are self-employed
5. Name, Address and telephone of employers
6. Social Security award letter 2021 (if applicable)
7. Social Security Benefit statement for 2020(if applicable)
8. Statement verifying Pension received

Family Composition, Resident and Bank Information

1. Name, address and telephone number of Landlord or Management Company
2. Marriage Certificate
3. Birth Certificate and School/College for Children (if applicable)
4. Photo Identifications (Passport, Driver License, Job ID) for all Occupants
5. Name and account numbers of Bank(s)

Processing Fees:

1. Money Order in the amount of and $125.00 for single Occupancy and $190.00 for two occupant to cover credit report, criminal background report and home visit. Please leave payee blank.
2. Money Order in the amount of $500.00, “Secured Loan Processing fee”, payable to MUTUAL REDEVELOPMENT HOUSES, INC. Please note this is fee is non-refundable.
3. Money order, in the amount of $500.00 “Administrative Fee”, payable to MUTUAL REDEVELOPMENT HOUSES, INC. please note this fee is non-refundable.

[schlip]

Your Housing Connect # is your real log #. Last time Penn South initially gave numbers in increments of 5 for their own internal list, so log #1 was 2019-00005N and log #2 was 2019-00010N etc. I had a middle of the road # but my Penn South number was over 1500. They eventually corrected it and made it go in order (2019-001N, 002, etc). It took 3 years to get to a middle number. They seem to blow through a little less than 100 log #s per year.

Once you finally have access to the external list, you'll find your active position is higher than your log #. My log # was 27X and I started as 33X once I was on their list.

Is your drivers license address the same address as your mailing address (and NY state)? If that's the case, just use that as your address for simplicity. I did not have to show any proof of residency. Just getting their mail and having the address match on my license and my bank statements was proof enough. If your license and mailing address are out of state, you should really get a lease from your friend and get a NYC mailing address on your financial statements when the time comes to purchase.

You will get an email and physical mailing, likely on the same day. I don't know how long after logs posted it happened because frankly, I forgot I'd entered! So the email was a nice surprise...

I kept crazy detailed notes last time. They accepted 600 people for the 1-bedroom, but only 443 made it to the list.

It's worth checking out HomeFirst Down Payment Assistance Program (you have 3 years to figure it out), but funding for PS is tricky given that it's a limited equity co-op and a bank can't foreclose if you default on your loan, like a traditional mortgage. Urban Homesteading Assistance Board (UHAB) works with PS.

[macnyc2003]

Also, if your ID and mailing address are out of state, you will not be able to purchase. Penn South is only for NYS residents.

A home “visit” is also required. Instead of a person coming to her home, my daughter had to submit photos of all rooms (you can also take video) and also a photo of her and her husband in the apartment. There was a phone interview also. I don’t know if that’s still the way they’re doing it now that the pandemic is over.

[schlip]

I never had a home visit - virtually or in person, so they may have done away with it. This was in February of this year.

[pethian]

Originally Posted by macnyc2003

He will be contacted only if he is selected. I assume he gave his email on the paper application? I believe he will receive a physical letter and an email if he is selected.

Thanks, macnyc2003. I passed this along. He hasn't received anything to date.

[Jmmrivs]

I applied for both the studio and 1 bedroom list. Given log number for studio only. I currently have a large one bedroom so I am iffy but I know this could be a good opportunity.