111 Varick Street Apartments (to rent, cabinet, cabin)
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I noticed that too. On the website (https://111varick.com/residences/) it says there's in-unit washer/dryer. But could they have omitted those for the affordable units? Or is it just a mistake on the Housing Connect listing?
That’s even better! I was expecting shared laundry, the in unit w/d is the way to go. Prayers I get a call
That area is an eff fest of traffic nearly 24/7 as it is an approach to Holland Tunnel. Good thing this building has sealed windows and one hopes a generous amount of sound proofing or other noise control.
Yes and if you're in the lower AMI, all the better for you if you can pay the rent. I didn't comment on the rent for other AMIs. I'm simply saying the real winners here are the developers and owners who are getting a tax break from making the building affordable but the rent is still a burden on whoever is paying. If they really want to make it more affordable, why didn't they base the rent on the lower end of the bracket instead of the highest?
Just because it's discounted doesn't make it affordable.
Tax "break" (in this case J-51a IIRC) will expire at some point in future. Once that happens unless developer agreed to "permanently affordable" scheme, RS units will leave that system and go market rate.
So called tax breaks aren't that generous in grand scheme of things. More to point without them this building like scores of others likely just wouldn't have happened. Piled onto that those chosen via lottery are getting a RS apartment in new amenity filled construction at about half market rate rent.
Even if RS part does eventually expire those 20 or so tenants are living in a building and area they likely otherwise never would have gotten foot past front door otherwise.
Fantastic location, building exterior and interior look nice, and apartments look spacious but some floor plans would be nice. And them having in-unit W/D is great too.
All that aside, these prices for 130% AMI suck for a lottery. Overall amenities should be way better for these prices and they're not.
Now did I apply? Of course I did lmfao. Nov 23rd is such a late closing date though. I'm trying to secure something from a lottery before the year ends and I would rather not have to do market rate.
Fantastic location, building exterior and interior look nice, and apartments look spacious but some floor plans would be nice. And them having in-unit W/D is great too.
All that aside, these prices for 130% AMI suck for a lottery. Overall amenities should be way better for these prices and they're not.
Now did I apply? Of course I did lmfao. Nov 23rd is such a late closing date though. I'm trying to secure something from a lottery before the year ends and I would rather not have to do market rate.
I am in the same boat! I hope to secure a lottery apartment by the end of Nov or surrender to market rate which I do not want to do! this waiting sucks!
LOVE the location. But darn these 130 AMI prices are just too high..
For example, 1 bed room rent is 2689. If you go by market rate standard, you'd need 40x and that's a 108k income. Which is literally the max cap for the bracket. What about the people who make 86k? It simply isn't "affordable".
I've been saying this for the longest about many of these 130AMI ones. Won't be applying because of that even though it's a nice building.
LOVE the location. But darn these 130 AMI prices are just too high..
For example, 1 bed room rent is 2689. If you go by market rate standard, you'd need 40x and that's a 108k income. Which is literally the max cap for the bracket. What about the people who make 86k? It simply isn't "affordable".
Bingo. Hit the nail on the head. People need to understand a lot of these 130% AMI just isn't properly affordable. They just seem like deals because the market rate prices for these luxury buildings tend to be much higher. I guess that's the catch. Everything has a catch.
Wait is the building name ‘Untitled?’ Oh boy… the presentation of the building like a work of art is interesting… I’m really curious to know if the lottery units are going to have the same finishes as the market rate ones. The bathroom in the lottery pictures look different too. Still new/modern, but not as fancy looking.
I forgot this one has 50% CB - lucky for those in the area!
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