Park Clinton Affordable Coop Lottery (New York, York: sales, 2013, 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 very good deals extend only to 8 one-bedroom apartments and then the rest run from 1/4 to 1/2 million bucks. Maybe a deal for some, but hardly what I would put in the "affordable" category.
Unless I lived in Board 4 (with 50% preference,) I wouldn't waste my time. Sounds like OP can compete with the rest of the state for the remaining 4 apartments, and don't be surprised if the developer's brother in law gets one or two.
These kinds of deals are subverting the intent of affordable apartments...big surprise, right? Do 2 people making $150K need a 40 year tax break?
Last edited by Kefir King; 09-05-2013 at 06:03 AM..
The very good deals extend only to 8 one-bedroom apartments and then the rest run from 1/4 to 1/2 million bucks. Maybe a deal for some, but hardly what I would put in the "affordable" category.
Unless I lived in Board 4 (with 50% preference,) I wouldn't waste my time. Sounds like OP can compete with the rest of the state for the remaining 4 apartments, and don't be surprised if the developer's brother in law gets one or two.
These kinds of deals are subverting the intent of affordable apartments...big surprise, right? Do 2 people making $150K need a 40 year tax break?
thats why they are called the lottery
you will need a lot of luck to get one, but it doesnt cost us anything to apply, right ?
as the saying goes, you have to be in it to win it.
@mimid - they said they will be contacting people who have been selected for interviews sometime in October. They will go through the preference (Board, disability, city employees, etc.) and then in order of lottery #. Once selected for an interview , you will then submit financials.
Possible the October date could get pushed but it was mentioned several times at the information sessions.
Thank you all for sharing your thoughts and especially ZoeyBoogie for starting this thread. I have to admit 10,000 is an huge number. I hope they can use this to show the need for more Affordable home ownership opportunities in NYC. As with everyone else I'm keeping my fingers crossed and praying that the 50% community board preference works a miracle.
Just to confirm, what was said every letter is being opened that is picked from the lottery, correct? Or are all 10,000 letters opened? Sorry if I misunderstood. I attended the first session and thought I heard Michael Reed say that only applications picked from the lottery would be opened and then they would be put in order of preferences such as disability and community board among others.
On the bright side it seems that everyone on this thread is a better bunch than that of the information sessions. Making me optimistic that a great group will be chosen for the building. Have a great day everyone.
Thank you all for sharing your thoughts and especially ZoeyBoogie for starting this thread. I have to admit 10,000 is an huge number. I hope they can use this to show the need for more Affordable home ownership opportunities in NYC. As with everyone else I'm keeping my fingers crossed and praying that the 50% community board preference works a miracle.
Just to confirm, what was said every letter is being opened that is picked from the lottery, correct? Or are all 10,000 letters opened? Sorry if I misunderstood. I attended the first session and thought I heard Michael Reed say that only applications picked from the lottery would be opened and then they would be put in order of preferences such as disability and community board among others.
On the bright side it seems that everyone on this thread is a better bunch than that of the information sessions. Making me optimistic that a great group will be chosen for the building. Have a great day everyone.
I would assume that they'd open every application received within the deadline (all 10,000), in order to know who gets the special preference, etc...
Has anyone who is on this thread been call for an interview? I was so hoping to be picked, but with so many applications, my chances seem slim. I even started cleaning up my debt, if I had to apply for a mortgage. My credit score is over 780, but what good will that do me if I wasn't picked.
Have a great afternoon.
Dana
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.
Interviews
