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If you have that kind of money why do you need a lottery?
Exactly. This has been driving me batty as of late, especially since so many of the most recent postings are for a ridiculously high income bracket.
Let's look at 535 Carlton in Brooklyn (tenant selection in progress). My number is in the 3000 range for this one, so pretty unlikely to begin with. (I should add that there is a preference for CB 2, 3, 6, and 8 and I kid you not, I live in CB 7. )
There are 66 studios. 45 of those are earmarked for incomes of $60k and up.
There are 129 one-bedrooms. 81 (EIGHTY. ONE.) of those are for people with income of $75k and up.
These developers are getting huge tax breaks for renting to people of means at near-market rates...and these are the ones they can't fill.
$1,566 on an entry income of roughly $47,000? That's literally half of your net salary on RENT alone. Utilities and bills not included, let alone anything else.
They really need to explain "affordable" concretely. Sure these apartments are "affordable" given the market rates of comparable units within the complex and even surrounding area, but they are not "affordable" by general definition of the word. Spending half of your net pay in rent isn't affordable, that's a literal burden. lol
$1,566 is affordable on a $100,000 NET salary.
At first I was gonna say $100,000 gross could possibly be, but that's a stretch because a net of $70,000 means you're still paying 27% in rent, which is general territory. Nothing special.
they HAD to start another affordable housing lottery because many of people are moving out due to the L train construction
Oh I don't know....
Unlike Brooklyn there are more ways to get over to that part of east side than just the L subway. In particular STPCV is well served by several bus routes.
Constant churning of tenants at STPCV are mostly students and others paying market rate rents I shouldn't wonder. The former are by nature transient, others move in and out just as with other sort of similar housing. The Stuyvesant Town Report
Again the place is what it is; basically jumped up *projects* for middle class and veterans. Nothing wrong with that, but all these attempts at turning it into "luxury" housing will fail unless or until major changes are made.
Were it not for the current ongoing RE boom producing hundreds of new and or gut renovated units in full amenity type buildings STPCV *might* have a chance as luxury housing, but that isn't the case. There isn't even a zoned elementary school for the area.
Unlike Brooklyn there are more ways to get over to that part of east side than just the L subway. In particular STPCV is well served by several bus routes.
14th Street is going to be hell for that period, though.
For me, that would not be reason enough not to live there, but it gets more challenging as you get on towards Ave. C...
Unlike Brooklyn there are more ways to get over to that part of east side than just the L subway. In particular STPCV is well served by several bus routes.
Pay $3k for a studio and commute by bus?
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