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Stuy Town Affordable Housing Lottery is Now Open

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Photo by Alec Jordan; cropped by Beyond My Ken (talk)/Wikimedia Commons.
Photo by Alec Jordan; cropped by Beyond My Ken (talk)/Wikimedia Commons.

There’s a new opportunity to apply for below-market apartments at Stuy Town.

A lottery opened yesterday for apartments within the Stuyvesant Town-Peter Cooper Village complex. One-bedroom units are $2,805/month, while 2-bedroom apartments are priced at $3,366/month. In order to qualify applicants must show annual household incomes ranging from from $84,150 to $149,490.

As a point of comparison, 1-bedroom units in StuyTown are now advertised online for around $3,300/month. Two-bedrooms are listed for about $5,500/month.

The large housing development running from East 14th Street to East 23rd Street was acquired by Blackstone in 2015. As part of a deal with the city, 5,000 out of more than 11,000 apartments were preserved as affordable housing. This lottery is part of that agreement.

The lottery runs through March 10 and there is no broker or application fee. You can click here for more details. Keep in mind that the numbers mentioned above are based on 2016 AMi (Area Median Income). Final rents and income requirements will likely shift somewhat.

 

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