New affordable housing lottery launches at StuyTown, one-bedrooms from $1,200/month
Photo via Stuyvesant Town
From today until March 31st, New Yorkers earning 165 percent of the area median income can apply for a new set of affordable apartments at StuyTown. The available units start at $1,200/month for one-bedrooms, $1,400/month for two-bedrooms, and $1,800/month for three-bedrooms. They’re located in both Stuyvesant Town and Peter Cooper Village and, of course, come with perks like the complex’s plethora of outdoor space, amenity package, and prime East Village/Gramercy location.
In the past, we’ve called attention to the fact that StuyTown’s affordable housing lotteries catered to those earning six-figures. Though both the 2020 and 2021 lotteries were for those earning 165 percent of the area median income, they were based on the 2019 and 2020 AMIs. The newest lottery accounts for a wider income range and offers units at a lower monthly rent. As we previously explained:
When the Blackstone Group bought the 80-acre complex–the largest rental community in Manhattan–for $5.45 billion in 2015, they committed to reserving 5,000 units of affordable housing for 20 years, including 4,500 for middle-income families and 500 for low-income families. And under the city’s confusing AMI calculation (it is factored not by the city itself but by HUD and factors in several affluent suburbs like Westchester, Rockland, and Putnam counties, which skews the figure), 165 percent is in fact considered middle-income.
Photos via Stuyvesant Town
Stuyvesant Town/Peter Cooper Village is the largest rental community in Manhattan. It offers amenities such as a central green space with a fountain, a 24-hour on-site property manager, laundry in each building, a cafe, children’s playroom, indoor and outdoor fitness centers, and seasonal events like an ice-skating rink, outdoor movies, and a farmer’s market.
Qualifying New Yorkers can enter the waitlist for the affordable units as of today until March 31, 2021. The StuyTown 2020 lottery waiting list has expired, so applicants must reapply if interested in any of these unit types. Waitings lists for unit types NOT included in this lottery are still active. Complete details on how to apply are available here. Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.