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Old 04-04-2018, 07:50 AM
 
Location: Brooklyn the best borough in NYC!
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Is there anyone whose lived in an affordable lottery apartment and left? Specifically for the lottery apartments, what happens next? Does the apartment remain affordable or does immediately jump into market rate?
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Old 04-04-2018, 12:16 PM
 
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Originally Posted by BrooklynJo View Post
Is there anyone whose lived in an affordable lottery apartment and left? Specifically for the lottery apartments, what happens next? Does the apartment remain affordable or does immediately jump into market rate?


Much will depend upon terms of how unit was created.


If the apartment is rent stabilized then LL can take whatever vacancy and other increases allowed, then rent to another tenant. Only question is who does the vetting of subsequent tenants; that is do they also need to go through same process (including HPD), or what.
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