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Maybe this will give you an idea of the area. It’s three blocks from Stuyvesant Town on E14th St, those blocks have is a newer Target store and a Trader Joe’s. Those companies don’t tend to locate in awful areas. Check the market rate rentals at Stuyvesant Town, a year of rent there can exceed the purchase price at Village East Towers.
Village East Towers. How bad would have to be for you to not be interested a 1 bedroom co-op for $29,618.05 - $37,846.67?
There are 1b market rate units across the street for $795K. There unlikely any 1B MR units in the entire East Village for less than 10x the max price at Village East Towers, and it’s easy to find places for a million, even two million.
Also, there is likely going to be long wait for a vacancy, the area will change likely become more gentrified. So, ask those safe area questions later.
Location: Read the Marketing Handbook, and Income a Guide.
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Quote:
Originally Posted by BPC1999
Do existing waitlists ever expire? My StuyTown waitlist spot will expire after 2 years. Is Mitchell Lama similar?
The StuyTown lottery is unique. It’s a long story why it’s unique. As you said the wait list has an expiration date. This in unlike all the true Mitchell-Lama wait lists administered by the City that I know of. Typically, they do an outreach every so often to ask applicants if they are still interested. If an applicant does not reply I suppose they are allowed to take that application off the wait list.
The StuyTown lottery is unique. It’s a long story why it’s unique. As you said the wait list has an expiration date. This in unlike all the true Mitchell-Lama wait lists administered by the City that I know of. Typically, they do an outreach every so often to ask applicants if they are still interested. If an applicant does not reply I suppose they are allowed to take that application off the wait list.
I got the Village East Towers letters yesterday . Today I visited the area:
- There seems to be a power plant of some sort nearby. Is that dangerous?
- The area is zoned to P.S.34, is that school good?
Thank you and good luck!
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. Today I visited the area:
