Stuyvesant Town apartment lottery reopens

Stuyvesant Town

By Sabina Mollot

Stuyvesant Town’s apartment lottery has reopened on Tuesday for renters in the upper income tier of eligibility. Based on the affordability deal between the owners Blackstone and Ivanhoe Cambridge and the city in 2015, half of the apartments that become available are put into a lottery system for reduced rents. Ninety percent of those units are for tenants earning a household income of up to 165 percent of the area median income while the other 10 percent are for those earning up to 80 percent of the AMI.

According to an email sent out by Stuy Town management on Tuesday, this amounts to rent for a one-bedroom apartment going for $2,975 for households of one to three people earning incomes starting at $89,250. The maximum income for three people is $154,935, the maximum income for two people is $137,775 and for one person the maximum income is $120,615.

The savings from average market rent, $3,587, is 17 percent, according to the lottery website. Market rate one-bedroom apartments in Stuy Town range from $3,273-$3,675, based on current listings. Peter Cooper one-bedrooms range from $3,717-$4,046, according to listings. There are also converted or “flex” apartments, which are usually higher in price.

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Opinion: A walk in the park

By former Assemblymember Steven Sanders

For many years the The Metropolitan Life Insurance Company, the first owner of Stuyvesant Town and Peter Cooper Village, advertised our environs as a “park-like residential community.”

A community of 110 buildings housing 25,000 persons situated amongst acres of green grass, trees, plantings and shrubbery removed from the teeming streets of Manhattan. Met Life was pretty much on point.

But the current ownership has taken this now-quaint community to greater heights of amiability and helpful amenities. So last week while visiting my mom, I decided to do something I have not done in years… to walk the length and breadth of our unique neighborhood.

I crossed over 20th Street from the redesigned playgrounds and basketball courts of Peter Cooper Village over to Stuyvesant Town. I walked passed Lenz’s, the venerable local deli/grocery store owned by the equally venerable Naz who has been a friend and merchant to our community for decades.

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