The Ruby: 243 W 28 St — Lottery now open (Hope: health, date)
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I think it's a personal decision for you then, linamonroll. You said you're not as centrally located, so while in a great unit, it's still not a 1:1 comparison. By contrast, Flow Chelsea, an affordable housing lottery building just one block over from the Ruby happened a few years back (https://www.6sqft.com/chelseas-first...rom-1169month/).
That 130% 1-bedroom 1 block away was $2,544, but the max income was only $97,000 (1 person). For the Ruby, that income is now $121,000; in the past few years, if this is the location a person was aiming for the Ruby is one of the first deals to come along since then. Otherwise you could always just keep the cheaper unit further out, or choose a cheaper Manhattan lotto (ex: Lyra, also not within 1 block, but up on 38th).
I hope you continue to love your neighborhood, whichever you choose! At the end of the day, we all just want an affordable and safe place to stay, for our unique situations. Best of luck to those waiting to hear back!!
Yeah, my building started in the $2300s for 1br and incomes up to the 121k (130% 1 person is $128k now btw), feels like a bargain these days!
Of course no building would be a 1:1 comparison, there are always pros a cons. I'm not in midtown (wouldn't want to be lol) but still in one of the best connected neighborhoods in the city tbh, something like Lyra or HY in general would be a downgrade in terms of neighborhood and transit for me (no offense to anyone who loves it over there).
I'll think about it for a couple more days and decide if it's worth going to check Ruby out, wouldn't want to regret anything. But I don't think the price will be justified, I'll let y'all know.
Yeah, my building started in the $2300s for 1br and incomes up to the 121k (130% 1 person is $128k now btw), feels like a bargain these days!
Of course no building would be a 1:1 comparison, there are always pros a cons. I'm not in midtown (wouldn't want to be lol) but still in one of the best connected neighborhoods in the city tbh, something like Lyra or HY in general would be a downgrade in terms of neighborhood and transit for me (no offense to anyone who loves it over there).
I'll think about it for a couple more days and decide if it's worth going to check Ruby out, wouldn't want to regret anything. But I don't think the price will be justified, I'll let y'all know.
$2300 is not far off from $2500, so you're hovering at the average 1br rent of the past few years. You have a good deal for your area. The real data point we have close to the Ruby is Flow Chelsea, and the studios there started at $2375, before inflation and rent hikes. Based on your comment in the Lyra thread, that indicates something about the neighborhood or building, since not all Manhattan lotteries are created equal.
What we know for sure is that a lot of good folks who qualify for the Ruby today with the same income would not have qualified for FC. Your pros/cons list will look different from others since you already have amenities and seem to really love your place, which outweighs the benefits of a move.
How does the lease look like? Is it renewed every year and do we also need to provide all the updated financial documents again? Sorry for my newbie questions.
You can choose a 1 or 2 year lease at signing. You may have to provide more recent financial docs if the last upload was more than 6 weeks ago.
How does the lease look like? Is it renewed every year and do we also need to provide all the updated financial documents again? Sorry for my newbie questions.
If you’re already approved and signed the lease that was the last time you’ll need to submit documents.
This is a lottery apartment and not other income dependent voucher units. You will not need to recertify or go through submitting financial info again
You’ll be getting a stabilized lease and the only thing you’ll be asked every year 90-150 days before your lease ends is if you want to renew and if yes 1 or 2 years.
You’ll have to respond within 60 days of getting the renewal notice
Has anyone had experience with a self-employment rejection? I've been submitting documents to the ruby housing for the past couple months. Today we got a rejection letter on housing connect with the reason being "did not submit sufficient self-employment documents: Copies of all leases, invoices, contracts, actual receipts for proof of expenses, business bank account statements for the full year. The spreadsheets are not sufficient documents as proof of income."
I'm confused because we've submitted everything they have asked for so far. The "spreadsheets" are bookkeeping records with linked actual receipts. The results have been notarized in a certified self-statement and by a CPA letter. Has anyone experienced a rejection like this and could you offer some advice on the process?
Has anyone had experience with a self-employment rejection? I've been submitting documents to the ruby housing for the past couple months. Today we got a rejection letter on housing connect with the reason being "did not submit sufficient self-employment documents: Copies of all leases, invoices, contracts, actual receipts for proof of expenses, business bank account statements for the full year. The spreadsheets are not sufficient documents as proof of income."
I'm confused because we've submitted everything they have asked for so far. Has anyone experienced a rejection and what is the appeal process like?
I did! Definitely appeal!! They said the same to me and I just provided everything they asked for (and more if I could find it) and wrote an appeal letter and it was approved. Definitely don’t give up at this point, self-employment is just a little more complicated so they ask for more info. Good luck!!
Thank you for the advice! I actually tried to direct message you but the forum wouldn't let me.
When they list all the requested documents and say "Copies of all leases, invoices, contracts, actual receipts for proof of expenses, business bank account statements for the full year. The spreadsheets are not sufficient documents as proof of income."
Can you tell if they are asking for only proof of income documentation?
Or are they asking for all leases, invoices, contracts, actual receipts and business bank account statements in addition to proof of income in a non-spreadsheet format?
- If it's the latter the actual receipts alone in a non-spreadsheet format would be hundreds of pages.
Location: Read the Marketing Handbook, and Income a Guide.
2,005 posts, read 1,626,371 times
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Quote:
Originally Posted by Manhattan21
Hello everyone,
Has anyone had experience with a self-employment rejection? I've been submitting documents to the ruby housing for the past couple months. Today we got a rejection letter on housing connect with the reason being "did not submit sufficient self-employment documents: Copies of all leases, invoices, contracts, actual receipts for proof of expenses, business bank account statements for the full year. The spreadsheets are not sufficient documents as proof of income."
I'm confused because we've submitted everything they have asked for so far. The "spreadsheets" are bookkeeping records with linked actual receipts. The results have been notarized in a certified self-statement and by a CPA letter. Has anyone experienced a rejection like this and could you offer some advice on the process?
It’s possible, that what you submitted didn’t reach the people that rejected you. You might want to confirm what documents they, the decision makers, did or didn’t receive.
Documents:
‘ What do I need to provide if I get a request for documents?
The request for documents includes all required items to submit. This documentation is necessary to support the household information from your application and confirm that you qualify. These documents generally include but are not limited to personal IDs, pay stubs, tax returns, proof of address, and asset documentation.
Acceptable forms of personal ID include drivers’ licenses, non-driver state ID cards, and IDNYC cards. Birth certificates or other forms of documentation like a school letter may be necessary for children under 18.
Make sure to include ALL requested documents in one submission, when you respond to the document request. After submitting your response, the option to submit more documents disappears until after the developer has reviewed.’
Source, see FAQs at bottom of this post.
These are good resources below to confirm you are doing the math correctly. I am not saying you are not.
Marketing Handbook, useful detailed Table of Contents. From August 2021 so references to Asset Limits and such could be out of date. https://www.nyc.gov/assets/hpd/downl...g-handbook.pdf
It’s possible, that what you submitted didn’t reach the people that rejected you. You might want to confirm what documents they, the decision makers, did or didn’t receive.
Documents:
‘ What do I need to provide if I get a request for documents?
The request for documents includes all required items to submit. This documentation is necessary to support the household information from your application and confirm that you qualify. These documents generally include but are not limited to personal IDs, pay stubs, tax returns, proof of address, and asset documentation.
Acceptable forms of personal ID include drivers’ licenses, non-driver state ID cards, and IDNYC cards. Birth certificates or other forms of documentation like a school letter may be necessary for children under 18.
Make sure to include ALL requested documents in one submission, when you respond to the document request. After submitting your response, the option to submit more documents disappears until after the developer has reviewed.’
Thank you for your detailed response. It's interesting that you mention that what we submitted may not have reached the people that are rejecting because on 10/24 we received an email saying we are income eligible and then on 10/27 we received an additional document request for things we already provided before from a different email.
Last edited by Manhattan21; 11-01-2023 at 01:44 PM..
Location: Read the Marketing Handbook, and Income a Guide.
2,005 posts, read 1,626,371 times
Reputation: 479
Quote:
Originally Posted by Manhattan21
Thank you for your detailed response. It's interesting that you mention that what we submitted may not have reached the people that are rejecting because on 10/24 we received an email saying we are income eligible and then on 10/27 we received an additional document request for things we already provided before from a different email.
Yeah, I am not overwhelmed by surprise at what you say. Based on many posts, it seems things don’t always reach the places they are assumed to directed to. Various explanations are presented. There are also posts about how appeals have prevailed so stay with it. Stay polite. If certain docs are over 120 days old they can be consider not valid anymore.
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