Council Member Dan Garodnick will host an informational session on the StuyTown Lottery Monday, February 27, 6:30-8:30pm at Simon Baruch Middle School, 104 Auditorium, 330 E. 21st St.
A small number of 1 and 2-bedroom apartments are expected to become available at below-market rents at Stuyvesant Town/Peter Cooper Village. Located on the east side of Manhattan, below 23rd Street, this housing complex of over 11,000 apartments was recently taken over by a division of Blackstone Group. Download a flier.
In an arrangement negotiated with the deBlasio administration as part of the takeover, 40% of the apartments are to be offered at below-market rents as they become vacant. The management company expects the rent-stabilized rents for apartments that become vacant this year to be about $2800/month for a one-bedroom unit and $3400/month for a 2-bedroom unit.
The management company is running a lottery to create lists of interested potential tenants. There are minimum and maximum household income requirements for eligibility.
PSC members are invited to register for the lottery by clicking on the lottery webpage here and submitting the requested information between Monday February 6 and Friday March 10. Those who register are assigned random numbers. After March 10th, a certain number of random numbers will be drawn and will be placed on a list for income verification and for eligibility to be offered a lease as apartments of the desired size become available. The lottery will not be held until the end of the registration period; there is no advantage to registering early. You must be in a position to sign a lease within 90 days of the offer. You will be notified if your number is not drawn and you are not placed on a list.