Market raters hopeful about lottery, some others say the cost isn’t exactly affordable

feb9-screenshotBy Sabina Mollot

Following the announcement that the Stuyvesant Town lottery would be reopening for would-be residents in the upper income tier, Town & Village asked a few market rate residents and former residents as well as others for their thoughts. The market raters we spoke with seemed to think that while the rents weren’t exactly cheap, the lottery was still welcome news. However, those unaccustomed to paying those kinds of rents were wary of labeling the available units as affordable.

After hearing what the rents were for one and two-bedrooms, Larry Watson, a former Stuy Town resident who moved out last year, said he thought the deal sounded better for the two-bedrooms.

He’d previously paid $3,900 for a converted two-bedroom.

“If you look at the price for a studio anywhere in Manhattan, it’s $2,000,” said Watson, “so it’s an $800 leap for a one-bedroom, but for a two-bedroom it’s an extra $1,300. So you get the value in a two-bedroom, but not a one-bedroom. I’d say it’s a decent offer,” he said.

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