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Re: reprint/affordable housing

Posted by MikeW on May 04, 1999 at 16:32:51:

In Reply to: reprint/affordable housing posted by Sonya d. on May 04, 1999 at 15:14:35:

: I am re-posting this so it doesn't get archived because someone has a chance to respond. I am a library clerk making approximately $26,000. I do expect to see my salary increase slowly over the following years, but it will never get to a point where I will be able to easily afford any apartment that I want. My dilemma is that I want to stay in NYC permantently and live in downtown Manhattan (96th St. or lower if I can't get downtown). I currently live right next to the George Washington Bridge in a very pleasant neighborhood that is too far from where I work and hang out for my tastes. I am well aware that my finances won't get me anything where I want to live that isn't subsidized in some way or an incredibly low rent stabilized apartment (a rarity these days). I am willing to be on a waiting list for years if necessary or to make many phone calls and deal with all kinds of red tape, but I am not finding
: even the opportunity to do that. I have checked out all the Mitchell Lama buildings and am currently on several lists, but it is not a sure thing because buildings can buy out of that program. Sty Town has a minimum $55,000 income requirement and all the "80/20" situations that I have found require income to
: be under my current income. I would be willing to rent or buy if the price was right. If anyone out there knows of any other kind of waiting lists or programs that I should inquire about, please let me know. If anyone knows about some good literature regarding the current (i.e. post 1997) housing situation in NYC, please point me in the right direction and I will do the research myself. Thanks in advance for any help you can give.

In Manhattan south of 96th st, and the good parts of the Boroughs, all the sources of the type of apartments you looking for are drying up rapidly. The LL's have gotten very adept at driving up the rent for any apartment that becomes vacant. Even small studios on the Lower East Side are going well in excess of $1000. You know the situation with Mitchell-Lama. Even the old trick of doubling or tripling up with roomates doesn't work any more (unless the roommates all make fairly big $$$$). Any roommatible apartment (1 bedroom or larger) is immediately MCIed over $2000, at which point it pops off stabilization.

Choices:

- Keep scouring the market. You could get lucky. Stranger things have happened, however, I wouldn't be holding my breath if I were you.

- Stay put. Stabilization favors the stationary. If you have a regulated apartment that is tolerable, keep it.

- Find someone with a stabilized apartment who's looking for a roommate. This is never a safe situation though, and I wouldn't give up a regulated apartment for it.

- Find a boyfriend who can pay the freight on an apartment you like and/or already has an apartment you like, and move in todether. This has many of the same risks as the previous choice, and a few more of its own, but at least you may be able to get on the lease, which would give yo some protection.

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