ST/PCV apartment lottery reopening

ST buildings

By Sabina Mollot

The last time the Stuyvesant Town apartment lottery opened was in January, with slots only being made available for applicants in the upper tier of income levels, meaning those who earn a maximum of 165 percent of the area median income. As part of owner Blackstone’s deal with the city in 2015, as apartments have become available in the complex, half become market rate while the other half become available to lottery tenants. Of the lottery apartments, 90 percent of them go to tenants earning up to 165 percent of the AMI, the other 10 percent going to those earning a maximum of 80 percent of the AMI.

However, the lottery is once again reopening, and this time, applicants in both income tiers are eligible to apply for apartments, which are available in a variety of sizes in Stuy Town as well as Peter Cooper Village. The deadline to apply is October 11 and applications can be done online at stuytownlottery.com. To request an application by mail, send a self-addressed, stamped envelope to Stuyvesant Town/Peter Cooper Village Wait List, Peter Stuyvesant Station, P.O. Box 1287, New York, NY, 10009.

The 2016 waiting list has expired and the lottery has been reopened periodically.
This time around, a single tenant looking to live in a studio apartment would pay $1,462 if they earn under 80 percent of the AMI (up to $58,480 for a single person) although that same apartment would cost $3,015 for a single person under 165 percent of the AMI (up to $120,615).

One and two-bedroom apartments are available for lower income tier tenants but not the upper tier ones, who, in the last lottery, were being accepted for one and two-bedroom apartments only.

For eligible tenants this time, a one-bedroom will cost $1,566 a month. Single tenants can earn up to $58,480. Two tenants can together earn up to $66,800 and three tenants’ household income can be up to $75,120.

A two-bedroom will go for $1,878, and is available for a minimum of two tenants earning up to $66,800 together, three earning up to $75,120, four earning up to $83,440 and five earning up to $90,160.

Three, four and five-bedroom units are also available for both tiers. For lower tier income tenants, the rents go for $2,170 for a three-bedroom, $2,420 for a four-bedroom and $2,671 for a five-bedroom. For the upper tier income tenants, the rents are $4,475 for a three-bedroom, $4,991 for a four-bedroom and $5,508 for a five-bedroom.
Along with income caps, applicants are also not allowed to have more than $250,000 in assets although some exceptions may apply with retirement accounts. If incomes of tenants increase beyond the limit after they move into a lottery apartment, they are still allowed to remain there.

Meanwhile, market rate apartments are, as always, also available.
A few listings on Stuyvesant Town’s website this week include a one-bedroom in Stuy Town in the Oval area starting at $3,287 and a one-bedroom in Peter Cooper starting at $3,507. An Avenue C one-bedroom “flex” apartment in Stuy Town is going for $3,340. A two-bedroom in Stuy Town on East 20th Street starts at $3,713. A two-bedroom, two-bathroom apartment in Peter Cooper starts at $5,656.  A current deal for new market rate tenants includes a year of Cable and WiFi. Rents for all the apartments don’t include air conditioner surcharges, but utilities are included.

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One thought on “ST/PCV apartment lottery reopening

  1. Pingback: L train, noise and MCIs will be addressed at Stuyvesant Town-Peter Cooper Village TA meeting | Town & Village

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