MANHATTAN – The lottery to score a unit in Stuyvesant Town and Peter Cooper Village opened Tuesday, giving thousands of apartment seekers the chance to relocate to an affordable apartment in Manhattan.
It’s part of an “historic agreement” between the city and the complex’s new owners to preserve 5,000 units of affordable housing for the next 20 years, according to the New York City Council. As those units become available, the owner – Blackstone – will fill them with applicants from the lottery wait list and charge a set price, instead of converting those units to market rate.
Interested applicants have until March 31 to put their names in the running for the apartments, at which time 15,000 will be placed on a waiting list. As the units become available, those wait-listed New Yorkers will be contacted to verify they’re still eligible for the apartment.
Each unit size is attached to an annual household earning range based on how many people will be living in the apartment.
For example, a single person looking to rent a studio for $1,210 a month must make between $36,300 and $48,400 to be considered for the unit. A trio looking to live in a three-bedroom at $3,704 a month must make, between the three of them, no more than $128,205 and no less than $111,120.
Anyone currently living in the complex — situated between First Avenue and Avenue C, and from 14th to 20th streets — can apply for an affordable unit, too.
Should current a tenant be accepted for one of the 5,000 apartments, they will not be required to pay a fee for breaking their lease and the building’s owner will pay for their moving expenses, the city said.
Are you eligible to apply? Click here for a complete run down of rents and earning limits.
To start your application, click here.