Now come on Cash, as a life long New Yorker who is familiar with the lottery it’s so difficult to get approved! You needed to be more transparent about just how exactly the housing lottery works.
It's not that hard. I won a lottery apt in September, that I moved into. Just got contacted for Gotham Point and might go through with it. It's a lengthy process, but quick if your papers are in order and you have your money saved
It seems to be only an introductory offer, like a loss-leader, and only by their limited lottery based on your income because it's new and still under construction. It's a marketing ploy. The first month or quarter or 6 months may be that low price, but what about after that? If it's too good to be true, it isn't what it seems.
@@virginiamoss7045 the developer sets aside some apartments to be affordable in exchange for permission to build more units on the land (the building is taller than would have been allowed otherwise). The affordable units have to stay affordable.
Yeah, it's usually not the space that makes things difficult or expensive, but the supply and demand. Places that screen for income and ensure that people aren't renting multiple properties is a good step towards fixing the issues. Tragically if some of the places that cost like $5k to $10k per month weren't those prices, they'd all be taken in a heartbeat because of stupid tourists and "young people" who NEED to live in the best part of New York instead of people who grew up there with thier parents and realistically have no other place to stay. Those are the ones who need places like this the most, young college student just out of highschool ready to enter the working world but needs a roof over thier head and has no real other choice except leaving the city entirely and if they aren't income screened, then they have to be priced out.
@@guschtel-y9w we do not agree that just bc someone makes more is doing more valuable work. On the contrary, I think most ppl doing noble honest work(teachers, daycare providers, and nursing home personnel) do not get paid nearly enough and folks making 6 figures are dirty scheming dirt bags(wall street, loan officers, and pharmaceutical companies).
@@carlamarlene2927 Yeah, it's up for the govt to subsidize the need based work, but people just don't seem to vote with thier hearts on where taxes should be allocated. In an ideal world, teachers, food providers, etc would be the ones living in the McMansions because they are doing the work we need, but the reality is, people in the US always want someone else's money to fund these "needs" as they make as much of their own individual money as possible to drown out everyone else. Thus feeding the capitistic system that everyone hates but also willfully participates in. but then again, money wouldn't have nearly as much value if we didn't constantly crave more of it and SOMEONE has to do the work that makes the comforts we enjoy (delivering us food, taking care of our kids while we work, running our power). We could replace all that wtih robots and machines...... but ironically people aren't ready for that conversation given the "AI scare" that happened recently (the same people who want things to go down in price demand that people who actually do the stuff are paid more for doing it instead of letting machines do it which would lower the price, so how would people be paid more if prices are lowered?), so ..... yeah it's just how it is.
My jaw literally hung open from the "$500 a month" comment right to the end. I was like " Per bedroom, right? And there's probably 10 tiny, weird bedrooms, right?" Omg, I could actually AFFORD THIS! Congrats to whoever makes it in. NEVER MOVE. 😂
I’m so glad to see new construction for lower - middle income people in NY. Thanks for showing! I’m sure after the lottery, they’ll have a wait list to get a place there.
@@locabynature A long time ago, I put my name on a wait list to get affordable housing on Roosevelt Island. A few years passed and I forgot all about it. I think it was at least seven years later that I got a letter offering me an apartment. By then I already had bought an apartment in Manhattan.
@@marylivingstone9815 oh wow. 7yrs is an incredibly long waiting list. so much can happen in that amount of time. they really should do better. I'm glad you were able to find a place to buy. I've never been there but I hope to someday. ❤️
I don’t live anywhere near NY. But I love these videos because it shows the stark contrast in culture that I am used to. Especially with food. I live in the south so the idea of eating out multiple times a week is crazy to me. I love that these videos teach me about the culture of a different city!
Appreciate the respect for city life. Really despise seeing ignorant "WY is the RENT SO BIG!? WHERE I LIVE THE RENT is like A QUARTER THAT FOR A MANSION!" without considering the fact that prices are set by the supply and demand and income rate of those living in the area. As Cash says in numerous videos "2-3 people living here could make this $1800 a month", he's spelling it out. In New York, you don't get your own mansion BY YOURSELF unless you're a CEO in Wall street. That's a LUXURY, but you still CAN make Wall street money by working in proximity to your home. If they made the whole apartments $1800 a month in the heart of New York, Cash wouldn't be making these videos cause ALL of them would be occupied....by people who don't even work in New York, just keeping it as a second place to visit occasionally. It's just a different culture. and income to rent is relative anyway. Despite making less than someone in Redmond Washington, I actually make more personal income because my rent is far lower (or was, $2000 a month to $4000 a month, while I was making $160K and she was making $230K, after taxes and rent, I was SLIGHTLY ahead of her in personal income). So that's the way people need to think about living in New York. The people who live there either can afford it, or are willing to split it with others. There's no room (or place) for everyone in the heart of the city to get a McMansion for $1000 a month with their own pool and grill and yard. That's what you save up all that New York 401K for, the move out and buy one of those in some nice big suburb.
Well, as the saying goes; "You have to be in it to win it!". There will be some very lucky and happy people who will get to occupy these units! I liked all 3 units. I especially loved that bedroom rug in the staged unit. My only question; Does the roof top area have waitstaff service? If so, PERFECT! Just perfect...!
@@MamaCarola1 but that staff needs to be paid...? So residents need to pay for those services too... Maybe not thousands but it's only logical to pay extra.
wow! Amazing building. For those outside of NYC wondering "how the heck is this possible" about 20 years ago when there was a massive underdevelopment of real estate particularly for low income residents, the city offered develop HUGE tax breaks/incentives if they would allocate a percentage of their development to lower income families or studios. For example: the building I live in the Bronx, I pay 1,300 for a 1 bedroom and my building offers about 12 studios for around 500 bucks. It's a win for residents and it's a bigger win actually for the developers.
I like how you say " they offered developers huge tax incentives..." No... They mandated a % of affordable housing units per development. If you don't include the mandated % your development isn't approved... PERIOD! If you wonder why NYC is so expensive it's because of policies like this.
@@drewt2790 I don't disagree. The developer if they want those incentives must comply or not and pay their normal share of taxes. What is unfair is the median income guideless that expels the majority of would-be renters. There is "affordable" housing all over NYC but based on median income, rent can still be $2500 even higher which is sad
I applied on Housing Connect and they called me for a place 6 years later. I used to stay up past midnight, checking constantly and applied for everything. Don't give up, and have your documents ready. P.S., that bedroom rug looks soooo plush.
I wanna get something next year and as a college student who just started working it’s really hard apartment hunting because a lot is heavily priced. Thanks for giving me hope. Good stuff!!!
This video made me smile! Wish they’d do more lotteries here in CA. Some people are going to have their lives change, and a lot of stress relieved with the affordable rent! Cash- your editing is getting better and better. I’m surprised others haven’t hired you to make videos (all types) for them.. 👍🏼
You still have the stress of people paying 10x as much hating your guts. Also sometimes if you don’t pay market rent you have to pay extra to use the amenities.
@@marylivingstone9815 I would hope people wouldn’t hate you. If one’s not in that situation of having t on try a lottery, they should consider themselves fortunate and that’s that. I know it’s incredibly hard to win those housing lotteries.
@@marylivingstone9815 Your comments are so untrue. The market-rate residents have no idea which units are the affordable units. Secondly, it is against the law to charge for amenities if the market rate tenants don’t have to pay extra for amenities. The very basis of the affordable requirements that these projects have to comply with as a condition of gaining the necessary approvals to build these projects is that tenants in the affordable units must have the same rights and standing as the market rate tenants. By law, the affordable tenants can’t be treated any differently than the market rate tenants.
I was expecting an 8 " bedroom" apt when l saw the thumbnail... with one bathroom, of course! These apts are superb and very affordable.. l love the studio! And those views! What a find! People will be queueing up for them l should think! Good one, luv! Cheers!
On a separate note, I can’t believe how amazingly Long Island City has been developed. I lived in Sunnyside after college and rode my bike down there all the time. It was an industrial wasteland. Left about 20 years ago and it’s totally transformed.
These are very nice with great views! They need to build more of these! Definitely will help so many people to achieve their goal of having a beautiful place and safe too! I liked that last one with the unique bedroom layout. I need that "candy kiss" shaped rattan hammock chair thing in my life! Have a great week Cash! 👍
If there's nothing else to drink, I'll definitely take Coke over Pepsi any day. This seems to be only an introductory offer, like a loss-leader, and only by their limited lottery based on your income because it's new and still under construction, maybe only one unit. It's a marketing ploy. The first month or quarter or 6 months may be that low price, but what about after that? If it's too good to be true, it isn't what it seems.
I saw your video on the 1st Gotham tower, so I was excited to see the update on this tower-I've even been considering applying!🙊 Thanks for uploading on a Sunday you always work so hard-Enjoy The rest of your weekend!
These apartments are easily the best apartments for the price I’ve ever seen in NYC. If you qualify and then win the lottery, you got yourself a deal of a lifetime
In the studio, I would put a daybed against the wall with a TV across from it. Use it as a seat during the day and a bed during the night. Dishwasher is a win! I won't even be a jerk about no in unit laundry. Worth every penny.
In a studio apartment the best furniture use is to forget the couch and entertainment system. Get a Murphy bed and side cabinets. I do not sell furniture I got mine at Lancaster Handcraft. Play your movies on a tablet or project on a wall for the big screen effect. Have a roll around DR table that can function as a counter for the kitchen.
This is the best I have seen yet! What I would do in the kitchen in the two bedroom apt. would be to put a 2 ft depth high top table with stools up against the window to sit and watch the river. All the apartments are nice! Love the staged apartment with the day bed. Actually you could put that daybed in the studio so it doesn't take up so much room and you could also use it as a sofa then.
These type of apt. are what you called “lottery” apt. Basically it is a very low chance of you getting it, they do a lottery pick or they put you on a waiting list and you have to wait years and years. It is like winning a lottery if you get a chance to rent it. That’s why it is called “lottery” apt.
They put hundreds of these listings per year and alot of picks actually don’t even respond when called up. There is a decent chance to get these if you wait a couple of years.
I am usually like no I would never live in NYC because of the prices and other reasons, but this has got me re-thinking. These apartments are immaculate and affordable.
Housing costs based on your income....instead of greed. Love that! So if you do well with your job/business, does your rent increase with that as well? Just wondering.
It seems to be only an introductory offer, like a loss-leader, and only by their limited lottery based on your income because it's new and still under construction. It's a marketing ploy. The first month or quarter or 6 months may be that low price, but what about after that? If it's too good to be true, it isn't what it seems.
@@virginiamoss7045 Well, if your income remains the same, or changes very little, i.e. a fixed income, then your rent will remain the same or change very little over time. However, do not think that "whomever" will not be looking in every nook, cranny, and turning over every stone, to discover if there is any additional income. "They" want you out and not reaping the benefit of such a deal for very long. If you acquired the apartment rightfully and then the very next year you're lucky enough to land an AMAZING job that pays AMAZINGLY well, then you can bet your last dollar that the rent will increase proportionately (dramatically) or you will be required to move out of that specific unit.
@@sinash actually it does not. Went over the website and once you get in the lottery rent will be stable until you move out. The program is under the Dept of Housing of NY
My daughter has been applying for lotteries in LIC for about 5 years and nothing has come through. The studio or one bedroom would be ideal. All apartments are gorgeous, just good luck getting in.
What a view. Beautiful. What a wonderful thing to charge based on income so everyone can enjoy a really nice place to live. I love this concept. Kudos to the owners. Too bad I can’t move to NY from PA at this time.
Really awesome idea, but, that’s a public transit dead zone (it’s a long hike to the 7 train past the entrance to the midtown tunnel, and there’s no bus service down there yet.)
@@tsrocks2029 is that a serious question? People WANT to live here. This is why housing has lotteries because the demand is greater than the supply. It may not be a place you would live. To each his own.
How does this place not have a waiting list 5 miles long????? The view alone is priceless! And the hollowed out hanging fig chair on the roof! Looks a little minimalistic but with a view like that out of every window you wouldn't want it any other way! Clean, spacious, affordable!!! Yes, please! Thanks again Cash and as always, be safe outt here!
"What hoops of Fire do they have to jump through?" XDDD I'm rolling because I was waiting for it since it sounded too good to be true. XD Thought you put in the wrong state for a minute there lmbo
So glad to see that cities are beginning to do the 80%/20% and the apartments are the same size as one renting for much more. Hopefully, this will help with the homeless situation. Where I live the homeless squat in condemned city owned (tax seized) homes. No utilities and heat in bitter cold. Leads to a lot of needless house fires.
Wow Cash, these are amazing apartments. I could even make the studio apartment work for me but would go for the one bed. I'm sure that they will be in high demand. Thanks.
Affordable nice looking apartments with a great view. Kitchens have a lot of storage. I saw the curved shower curtain rods in the bathrooms which is always a plus too. If I were moving there I would absolutely apply.
I love all the units!!! I'm glad they are making apartments like these fit for people income. It's tough out here trying to find an apartment/ home that's affordable. Pepsi taste way better than Coke Cola!! No comparison LOL
Income based rental rates? That is seriously mind blowing. As someone who lives in New Zealand, we have the highest property prices and rental rates in the world! This is the best idea ever! 😱
Was waiting for him to show the “poor people entrance “. Yes it’s one of those buildings, we’re the lower income residents have to use an opposite entrance compared to the main one with the doorman. Also, those amenities, definitely not available to you if you’d live in the studio. As long as ok with that, get line, cause these go crazy quick.
Folks with relatively high, middle-class and upper-middle-class incomes are eligible for the lottery. A person with a $120,000 salary can apply. So can the head of a household with an income of $200,000 if there are six people in the family. The housing units in the program come from private real estate developers and landlords who are given tax credits to set aside several apartments in a new development for affordable housing. Housing is considered “affordable” if it does not exceed 30% of a person’s gross yearly income. What Are the Odds? Not good. There were 4.6 million applications. The New York Times estimated that applicants have about a 1 in 592 chance of winning the housing lottery. To put it into perspective, if anyone says, yeah, there's affordable housing in NYC is saying, you know my building, there's 100 apartments at $4k a month and ONE apartment at $500 a month.
I believe this is the problem...you got people that are paying 5/6 grand month so 3 or 4 people can get cheaper rent.....it's not really helping the high rent problem....it's just making other people pay for it.....the developer gets the tax credit AND raises the rent on everyone else.....its wealth distribution and it's not fair....
@@chemicalfrankie1030 The Pew Research Center defines middle class, or middle-income households, as those with incomes that are two-thirds to double the U.S. median household income. In New York: 2-person family middle-class income range: $48,674 to $145,296 3-person family middle-class income range: $57,889 to $172,802 4-person family middle-class income range: $70,331 to $209,944
@@chemicalfrankie1030 We're 4 in my family, 2 adults, 2 kids. We're just under $200k. We're middle class. I started out in an apartment, saved with the wife, got a co-op, then sold that for down on a house. We have a mortgage but no car ( that saved plenty). We still go on vacation, have disposable income but we don't over spend on groceries (we're no where near $2k/month on groceries). Our utilities are around $1k/month and that includes phones, wifi, electric, gas, etc. We have health insurance for everyone and savings. You're over spending amigo.
Good luck in the lottery ! Just know that there can be strange gaps in the income levels for apartments. For instance - it doesn't look like a single person making $52,000 has any chance at getting a 1 bedroom apartment. They're limited to studios. However, someone making $10,000 more, or $10,000 less would be considered for a Studio OR a 1 Bedroom. This is pretty common for the affordable housing lotteries - huge, unexplained gaps in income levels even at the lower end.
The odds are very slim you would end up here. According to the lottery website, 20% of the units are allocated for 62+, 50% for "community board residents" and 5% for NYC employees. Unless you fit into any of those, that's 75% of these units already taken up. Good luck with that.
1 I was going to say I remember when you toured one of these buildings previously and thought to myself oh this is the one you can get via a lottery system. Love these apartments they do seem to check all the boxes.
CASH - thanks for really interesting explanation of the affordable housing 'lottery' system that New York uses. it's very different from rest of the county that uses HUD Section 8 Housing Choice Vouchers to provide federal subsidies ( assistance) to income qualified applicants. I am not sure how long the property owners are required to offer reduced rents- if it's a 'tax credit' then normally it's only 15 years and then property can rent apartments for full market -? These apartments and the building, the views! fabulous.
Units in mixes housing must have the same amenities so you can't tell which ones are low income because of the subsidies to help finance the construction.
Wow! I haven't seen a $397 rent since 1994 in St. Louis. Wonderful for the people who win the lottery. Love the videos of the apartments in New York. Thanks Cash. One thing though. Will you please wear a helment when on your bikes? If not for you, then for Violet and her soon to be here sibling.
I am confused are all the apartments in the building based on income? How do they determine who gets a place? On one of the places, they say the rent varies between $500 and $3000 .So why would they ever rent to the person that would be paying $500?How are they able to offer these prices are the rents subsidized?
Knowing him, I thought he was gonna say $400 a week for a room. There's probably a 5 year waiting list. Once someone get's in. I know they wouldn't leave. How much are the non rent stabilized?
you are the most amazing , witty and on point orator , I love your videos just because of you, if I needed an apartment in NYC, you would be the one I would subscribe to
Now come on Cash, as a life long New Yorker who is familiar with the lottery it’s so difficult to get approved! You needed to be more transparent about just how exactly the housing lottery works.
I agree. Clickbait.
Could you elaborate on it?
A Lottery Is A Lottery And He Said It By Saying Good Luck With That 💁🏾♀️
I got approved for same building with a 509 credit score.
It's not that hard. I won a lottery apt in September, that I moved into. Just got contacted for Gotham Point and might go through with it. It's a lengthy process, but quick if your papers are in order and you have your money saved
I'm so happy to see affordable housing. It's nice for the people who are in the service industry have something nice and affordable at the same time.
It seems to be only an introductory offer, like a loss-leader, and only by their limited lottery based on your income because it's new and still under construction. It's a marketing ploy. The first month or quarter or 6 months may be that low price, but what about after that? If it's too good to be true, it isn't what it seems.
@@virginiamoss7045 ya id be worried about that
@@virginiamoss7045 the developer sets aside some apartments to be affordable in exchange for permission to build more units on the land (the building is taller than would have been allowed otherwise). The affordable units have to stay affordable.
@@virginiamoss7045 Hi, Eeyore. Still spreading gloom, I see.
@@virginiamoss7045 nope, I pay 1059 for an affordable 2 BR unit in Williamsburg and the rent doesn't go up.
When Cash said rent was $397 I thought he meant per day. Lol NY needs more of these. Very nice!
OMG ME TOO!!!!😂😂😂
Yeah, it's usually not the space that makes things difficult or expensive, but the supply and demand. Places that screen for income and ensure that people aren't renting multiple properties is a good step towards fixing the issues. Tragically if some of the places that cost like $5k to $10k per month weren't those prices, they'd all be taken in a heartbeat because of stupid tourists and "young people" who NEED to live in the best part of New York instead of people who grew up there with thier parents and realistically have no other place to stay. Those are the ones who need places like this the most, young college student just out of highschool ready to enter the working world but needs a roof over thier head and has no real other choice except leaving the city entirely and if they aren't income screened, then they have to be priced out.
As someone who has had rented "income based", this could be a miracle for the renters' spirit. This could be a game changer for the world
@@guschtel-y9w I was working hard too. And my job was not fun.
@@guschtel-y9w we do not agree that just bc someone makes more is doing more valuable work. On the contrary, I think most ppl doing noble honest work(teachers, daycare providers, and nursing home personnel) do not get paid nearly enough and folks making 6 figures are dirty scheming dirt bags(wall street, loan officers, and pharmaceutical companies).
@@carlamarlene2927 Yeah, it's up for the govt to subsidize the need based work, but people just don't seem to vote with thier hearts on where taxes should be allocated. In an ideal world, teachers, food providers, etc would be the ones living in the McMansions because they are doing the work we need, but the reality is, people in the US always want someone else's money to fund these "needs" as they make as much of their own individual money as possible to drown out everyone else. Thus feeding the capitistic system that everyone hates but also willfully participates in. but then again, money wouldn't have nearly as much value if we didn't constantly crave more of it and SOMEONE has to do the work that makes the comforts we enjoy (delivering us food, taking care of our kids while we work, running our power). We could replace all that wtih robots and machines...... but ironically people aren't ready for that conversation given the "AI scare" that happened recently (the same people who want things to go down in price demand that people who actually do the stuff are paid more for doing it instead of letting machines do it which would lower the price, so how would people be paid more if prices are lowered?), so ..... yeah it's just how it is.
My jaw literally hung open from the "$500 a month" comment right to the end. I was like " Per bedroom, right? And there's probably 10 tiny, weird bedrooms, right?" Omg, I could actually AFFORD THIS! Congrats to whoever makes it in. NEVER MOVE. 😂
Oh btw, I want that hanging pod thing.
And one’s chances of getting one of these units is next to zero.
But how little do you need to make to qualify?
@@Ballygirl886 Don’t worry about it. NYC residents get priority and literally thousands have already applied.
Frr
I’m so glad to see new construction for lower - middle income people in NY. Thanks for showing! I’m sure after the lottery, they’ll have a wait list to get a place there.
There will be a 15 to 24 month wait period
do the lower income people actually make it in there and what would the waiting list be like? I think it's a fantasy. just my opinion.
For the 397 download Partman maybe one or two don’t believe the hype
@@locabynature A long time ago, I put my name on a wait list to get affordable housing on Roosevelt Island. A few years passed and I forgot all about it. I think it was at least seven years later that I got a letter offering me an apartment. By then I already had bought an apartment in Manhattan.
@@marylivingstone9815 oh wow. 7yrs is an incredibly long waiting list. so much can happen in that amount of time. they really should do better. I'm glad you were able to find a place to buy. I've never been there but I hope to someday. ❤️
I don’t live anywhere near NY. But I love these videos because it shows the stark contrast in culture that I am used to. Especially with food. I live in the south so the idea of eating out multiple times a week is crazy to me. I love that these videos teach me about the culture of a different city!
@@vincentgoupil180 exactly
Appreciate the respect for city life. Really despise seeing ignorant "WY is the RENT SO BIG!? WHERE I LIVE THE RENT is like A QUARTER THAT FOR A MANSION!" without considering the fact that prices are set by the supply and demand and income rate of those living in the area. As Cash says in numerous videos "2-3 people living here could make this $1800 a month", he's spelling it out. In New York, you don't get your own mansion BY YOURSELF unless you're a CEO in Wall street. That's a LUXURY, but you still CAN make Wall street money by working in proximity to your home. If they made the whole apartments $1800 a month in the heart of New York, Cash wouldn't be making these videos cause ALL of them would be occupied....by people who don't even work in New York, just keeping it as a second place to visit occasionally.
It's just a different culture. and income to rent is relative anyway. Despite making less than someone in Redmond Washington, I actually make more personal income because my rent is far lower (or was, $2000 a month to $4000 a month, while I was making $160K and she was making $230K, after taxes and rent, I was SLIGHTLY ahead of her in personal income). So that's the way people need to think about living in New York. The people who live there either can afford it, or are willing to split it with others. There's no room (or place) for everyone in the heart of the city to get a McMansion for $1000 a month with their own pool and grill and yard. That's what you save up all that New York 401K for, the move out and buy one of those in some nice big suburb.
Well, as the saying goes; "You have to be in it to win it!". There will be some very lucky and happy people who will get to occupy these units! I liked all 3 units. I especially loved that bedroom rug in the staged unit. My only question; Does the roof top area have waitstaff service? If so, PERFECT! Just perfect...!
For waitstaff service consider paying another couple grand. Lol
@@MamaCarola1 but that staff needs to be paid...? So residents need to pay for those services too... Maybe not thousands but it's only logical to pay extra.
@@anyrahamat building staff is unionized. Trust me when I say that they're not hurting pay wise
@@MamaCarola1 and they are tipped generously too especially around holidays!
@@applejellypucci oh yeah you know it although that might be "old school" now
wow! Amazing building. For those outside of NYC wondering "how the heck is this possible" about 20 years ago when there was a massive underdevelopment of real estate particularly for low income residents, the city offered develop HUGE tax breaks/incentives if they would allocate a percentage of their development to lower income families or studios. For example: the building I live in the Bronx, I pay 1,300 for a 1 bedroom and my building offers about 12 studios for around 500 bucks. It's a win for residents and it's a bigger win actually for the developers.
I like how you say " they offered developers huge tax incentives..."
No... They mandated a % of affordable housing units per development. If you don't include the mandated % your development isn't approved... PERIOD! If you wonder why NYC is so expensive it's because of policies like this.
@@drewt2790 I don't disagree. The developer if they want those incentives must comply or not and pay their normal share of taxes. What is unfair is the median income guideless that expels the majority of would-be renters. There is "affordable" housing all over NYC but based on median income, rent can still be $2500 even higher which is sad
I applied on Housing Connect and they called me for a place 6 years later. I used to stay up past midnight, checking constantly and applied for everything. Don't give up, and have your documents ready. P.S., that bedroom rug looks soooo plush.
Did you get a brand new apartment?
BRUHHHH????? 6 Years later......
@@jphp952 Right? tf? Did this even exist 6 years ago?
@@jphp952 6 years documents ready
@@saint_snow im pretty sure he means the move in date is 6 years later in the future lol
I wanna get something next year and as a college student who just started working it’s really hard apartment hunting because a lot is heavily priced. Thanks for giving me hope. Good stuff!!!
Piece of advise, start applying to all of these now. They take a while to approve.
They don't give these to students.
@@AmberTris theres always a way around that. My cousins all got in as students.
If you have the income to rent, go ahead. Applications close in Sept
I was on a list since 2016, I didn't get a place until Feb 2022 so prepare to wait years,
This video made me smile! Wish they’d do more lotteries here in CA.
Some people are going to have their lives change, and a lot of stress relieved with the affordable rent!
Cash- your editing is getting better and better. I’m surprised others haven’t hired you to make videos (all types) for them.. 👍🏼
I think Cash mentioned in an episode that there are some agents that pay him to do that.
You still have the stress of people paying 10x as much hating your guts. Also sometimes if you don’t pay market rent you have to pay extra to use the amenities.
@@marylivingstone9815 I would hope people wouldn’t hate you. If one’s not in that situation of having t on try a lottery, they should consider themselves fortunate and that’s that. I know it’s incredibly hard to win those housing lotteries.
@@marylivingstone9815 Your comments are so untrue. The market-rate residents have no idea which units are the affordable units. Secondly, it is against the law to charge for amenities if the market rate tenants don’t have to pay extra for amenities. The very basis of the affordable requirements that these projects have to comply with as a condition of gaining the necessary approvals to build these projects is that tenants in the affordable units must have the same rights and standing as the market rate tenants. By law, the affordable tenants can’t be treated any differently than the market rate tenants.
lotteries are a cope for the poor. How many poor lose because the city can't make it livable for everyone?
I was expecting an 8 " bedroom" apt when l saw the thumbnail... with one bathroom, of course! These apts are superb and very affordable.. l love the studio! And those views! What a find! People will be queueing up for them l should think! Good one, luv! Cheers!
Same. Surprised over here
On a separate note, I can’t believe how amazingly Long Island City has been developed. I lived in Sunnyside after college and rode my bike down there all the time. It was an industrial wasteland. Left about 20 years ago and it’s totally transformed.
These are very nice with great views! They need to build more of these! Definitely will help so many people to achieve their goal of having a beautiful place and safe too! I liked that last one with the unique bedroom layout. I need that "candy kiss" shaped rattan hammock chair thing in my life! Have a great week Cash! 👍
Well done New York!! Thats a blessing to a lot I'm sure!! Other states need to look at offering luxury apartments like these in these format!!
Good thing there is at least some affordable housing being built! Looks like a great appartement complex. P.S. Coke over Pepsi
"built"
@@twerkinthecityhuh6340 thanks.
@@twerkinthecityhuh6340 😆
If there's nothing else to drink, I'll definitely take Coke over Pepsi any day.
This seems to be only an introductory offer, like a loss-leader, and only by their limited lottery based on your income because it's new and still under construction, maybe only one unit. It's a marketing ploy. The first month or quarter or 6 months may be that low price, but what about after that? If it's too good to be true, it isn't what it seems.
Before k would have said pepsi over coce but they changed their recipe so
I live in New Mexico and I’m not sure I will ever get to NYC, so these tours are so fun for me to watch. Thank You
Income based apartments. These are really really nice. What a great place loved this. This is very good information. Thanks Dude!!!
I saw your video on the 1st Gotham tower, so I was excited to see the update on this tower-I've even been considering applying!🙊 Thanks for uploading on a Sunday you always work so hard-Enjoy The rest of your weekend!
Apply!!!!
What a deal for someone! Best wishes to all that apply.❤
I’m super excited for this. The future of affordable clean wow housing. Favorite vid since following you 👏🏼👏🏼👏🏼👏🏼👏🏼❤️
Halo
Thanks
😅
These apartments are easily the best apartments for the price I’ve ever seen in NYC. If you qualify and then win the lottery, you got yourself a deal of a lifetime
Am sorry but what do you mean if you qualify
I’ve always wanted to move to NYC but rent is the biggest problem
@@Mm.2112 ur income needs to be within a certain threshold since the apartment complex is for low-mid income
In the studio, I would put a daybed against the wall with a TV across from it. Use it as a seat during the day and a bed during the night. Dishwasher is a win! I won't even be a jerk about no in unit laundry. Worth every penny.
These are really nice units, hope more and more people can benefit from this!
In a studio apartment the best furniture use is to forget the couch and entertainment system. Get a Murphy bed and side cabinets. I do not sell furniture I got mine at Lancaster Handcraft. Play your movies on a tablet or project on a wall for the big screen effect. Have a roll around DR table that can function as a counter for the kitchen.
This is the best I have seen yet! What I would do in the kitchen in the two bedroom apt. would be to put a 2 ft depth high top table with stools up against the window to sit and watch the river. All the apartments are nice! Love the staged apartment with the day bed. Actually you could put that daybed in the studio so it doesn't take up so much room and you could also use it as a sofa then.
These type of apt. are what you called “lottery” apt. Basically it is a very low chance of you getting it, they do a lottery pick or they put you on a waiting list and you have to wait years and years. It is like winning a lottery if you get a chance to rent it. That’s why it is called “lottery” apt.
They put hundreds of these listings per year and alot of picks actually don’t even respond when called up. There is a decent chance to get these if you wait a couple of years.
I am usually like no I would never live in NYC because of the prices and other reasons, but this has got me re-thinking. These apartments are immaculate and affordable.
They don’t tell you how hard it is to get them in ny tho😢
I applied for this building a few months back, gotta wait and hope to hear back.
Housing costs based on your income....instead of greed. Love that! So if you do well with your job/business, does your rent increase with that as well? Just wondering.
Yes!
It seems to be only an introductory offer, like a loss-leader, and only by their limited lottery based on your income because it's new and still under construction. It's a marketing ploy. The first month or quarter or 6 months may be that low price, but what about after that? If it's too good to be true, it isn't what it seems.
Well some new developments receive incentives if they reserve a portion of units for low income.
@@virginiamoss7045 Well, if your income remains the same, or changes very little, i.e. a fixed income, then your rent will remain the same or change very little over time. However, do not think that "whomever" will not be looking in every nook, cranny, and turning over every stone, to discover if there is any additional income. "They" want you out and not reaping the benefit of such a deal for very long. If you acquired the apartment rightfully and then the very next year you're lucky enough to land an AMAZING job that pays AMAZINGLY well, then you can bet your last dollar that the rent will increase proportionately (dramatically) or you will be required to move out of that specific unit.
@@sinash actually it does not. Went over the website and once you get in the lottery rent will be stable until you move out. The program is under the Dept of Housing of NY
$397? You can’t beat that price! That’s any New Yorker dream to have, even me 😍
My daughter has been applying for lotteries in LIC for about 5 years and nothing has come through. The studio or one bedroom would be ideal. All apartments are gorgeous, just good luck getting in.
Tell her to keep at it don’t give up
Fantastic affordable housing! I'm impressed. Way to go, NYC!
Hi 👋 how are you doing?
Need more places like this. Beautiful affordable apartments that goes by income.
What a view. Beautiful. What a wonderful thing to charge based on income so everyone can enjoy a really nice place to live. I love this concept. Kudos to the owners. Too bad I can’t move to NY from PA at this time.
This is incredible, these apartments really are bargains and those views are amazing
Really awesome idea, but, that’s a public transit dead zone (it’s a long hike to the 7 train past the entrance to the midtown tunnel, and there’s no bus service down there yet.)
According to the leasing office, there will be shuttle buses to and from the subway during rush hours.
How about just leave NYC entirely
@@tsrocks2029 is that a serious question? People WANT to live here. This is why housing has lotteries because the demand is greater than the supply. It may not be a place you would live. To each his own.
@@tsrocks2029 Sure, why don't you do that?
@@tsrocks2029 how about just leaving the country & becoming an ex-pat.....you can live for 1/2 price overseas & still work online.
I don’t think I’ll ever get called for one of these buildings. I definitely applied for both of them. Wish me luck y’all! 🙏🏾
Wishing you the best of luck🙏
Did you get it?
Now that is affordable housing and both are really nice😍
What a gorgeous view too😮
Wow amazing views!! I really like these apartments! Especially based on income. Very nice.
The views are absolutely amazing !!
How does this place not have a waiting list 5 miles long????? The view alone is priceless! And the hollowed out hanging fig chair on the roof! Looks a little minimalistic but with a view like that out of every window you wouldn't want it any other way! Clean, spacious, affordable!!! Yes, please! Thanks again Cash and as always, be safe outt here!
trust me there already is a list "5 miles' long.....not enough affordable housing across the entire USA let alone NYC
The 1st week that the lottery opened the website kept crashing. That list is atleast 6 miles long
Last time I checked there were more than 150k households applying. Btw the lottery for the south tower already took place.
"What hoops of Fire do they have to jump through?" XDDD I'm rolling because I was waiting for it since it sounded too good to be true. XD Thought you put in the wrong state for a minute there lmbo
Wow. That is an amazing location with an amazing view, and affordable too.
Go 'head Cash! Great video. Love to see that you focus on all levels of income in your videos.
So glad to see that cities are beginning to do the 80%/20% and the apartments are the same size as one renting for much more. Hopefully, this will help with the homeless situation. Where I live the homeless squat in condemned city owned (tax seized) homes. No utilities and heat in bitter cold. Leads to a lot of needless house fires.
Alot of homeless want to be homeless. Being an adult is a lot of responsibility
WoW! Beautiful beautiful scenery and apartment! thanks for sharing! 🥳👍
Wow Cash, these are amazing apartments. I could even make the studio apartment work for me but would go for the one bed. I'm sure that they will be in high demand. Thanks.
For the studio you could try getting a daybed like that last apartment.
this is the best thing i coulda come across as i’m planning on moving to ny soon
Cash, please wear your helmet when driving! You have a family that needs you healthy and in one piece.
Oh yeah, he's the head of a family after all
He was riding, not driving.
He knows. He’s been told many times. He does not care.
He should at least make sure to have life insurance, regardless of helmet or not. 👍
That rooftop view is AMAZING! I like that place.
You cannot beat those views. And the ferry doesn't cost any more than the subway, which is a big plus.
Affordable nice looking apartments with a great view. Kitchens have a lot of storage. I saw the curved shower curtain rods in the bathrooms which is always a plus too. If I were moving there I would absolutely apply.
I love all the units!!! I'm glad they are making apartments like these fit for people income. It's tough out here trying to find an apartment/ home that's affordable. Pepsi taste way better than Coke Cola!! No comparison LOL
Has to be the best value apartment ever!..so beautiful . The views are amazing x
Hey Cash! Very affordable & every unit so far, has great views! 🌇🗽🚕
Whoooo! Affordable housing video! More of these please ❤️❤️❤️
I love watching your videos Cash, your comments are flipping hilarious 🤣🤣🤣 I love it!!!
Wow now that is good place to live for all kinds of incomes. Very smart. Loved the video and all the restaurants. See ya
Income based rental rates? That is seriously mind blowing. As someone who lives in New Zealand, we have the highest property prices and rental rates in the world! This is the best idea ever! 😱
Was waiting for him to show the “poor people entrance “. Yes it’s one of those buildings, we’re the lower income residents have to use an opposite entrance compared to the main one with the doorman. Also, those amenities, definitely not available to you if you’d live in the studio. As long as ok with that, get line, cause these go crazy quick.
Mind-blown at modern finishes, views + price points...
The swing reminds me of a Hershey Kiss. That’s really nice. Well done Cash, I’m glad to see these affordable listings. 🙌 Awesome. Pepsi over coke. 😳
Hello how’re you doing?
Folks with relatively high, middle-class and upper-middle-class incomes are eligible for the lottery.
A person with a $120,000 salary can apply. So can the head of a household with an income of $200,000 if there are six people in the family.
The housing units in the program come from private real estate developers and landlords who are given tax credits to set aside several apartments in a new development for affordable housing. Housing is considered “affordable” if it does not exceed 30% of a person’s gross yearly income.
What Are the Odds?
Not good. There were 4.6 million applications. The New York Times estimated that applicants have about a 1 in 592 chance of winning the housing lottery.
To put it into perspective, if anyone says, yeah, there's affordable housing in NYC is saying, you know my building, there's 100 apartments at $4k a month and ONE apartment at $500 a month.
I believe this is the problem...you got people that are paying 5/6 grand month so 3 or 4 people can get cheaper rent.....it's not really helping the high rent problem....it's just making other people pay for it.....the developer gets the tax credit AND raises the rent on everyone else.....its wealth distribution and it's not fair....
@@chemicalfrankie1030
The Pew Research Center defines middle class, or middle-income households, as those with incomes that are two-thirds to double the U.S. median household income.
In New York:
2-person family middle-class income range: $48,674 to $145,296
3-person family middle-class income range: $57,889 to $172,802
4-person family middle-class income range: $70,331 to $209,944
@@chemicalfrankie1030 I live in NYC. Lived in Manhattan, born in Brooklyn and bought a house in Queens.
@@chemicalfrankie1030 We're 4 in my family, 2 adults, 2 kids. We're just under $200k.
We're middle class.
I started out in an apartment, saved with the wife, got a co-op, then sold that for down on a house.
We have a mortgage but no car ( that saved plenty).
We still go on vacation, have disposable income but we don't over spend on groceries (we're no where near $2k/month on groceries). Our utilities are around $1k/month and that includes phones, wifi, electric, gas, etc.
We have health insurance for everyone and savings.
You're over spending amigo.
Idea for a video … go,back,to,apartments that you rented and see if any tenants will show what they’ve done with the space!
What great apartments and good idea with the pricing depending on your income !
It's nice to see a follow up to your original video from months ago when they were in the process of building these
I expect that the "affordable" units comprise only a small number of the total in the building, but it's a step in the right direction.
Exactly. There are barely any units available if you make
I love this place. The one bedroom is very doable. Stay healthy, happy and safe always. Blessed be
I applied for multiple lottery apartments and only got contacted when I moved to a whole new state. The process is so long.
Definitely worth looking into! Thanks for sharing!
Good luck in the lottery ! Just know that there can be strange gaps in the income levels for apartments. For instance - it doesn't look like a single person making $52,000 has any chance at getting a 1 bedroom apartment. They're limited to studios. However, someone making $10,000 more, or $10,000 less would be considered for a Studio OR a 1 Bedroom. This is pretty common for the affordable housing lotteries - huge, unexplained gaps in income levels even at the lower end.
It’s quite unfortunate :((
I could try to make less money :)
The odds are very slim you would end up here. According to the lottery website, 20% of the units are allocated for 62+, 50% for "community board residents" and 5% for NYC employees. Unless you fit into any of those, that's 75% of these units already taken up. Good luck with that.
@@blueeyedwolf2205 and even then at those prices you have to believe a lot of applications to the lottery are out there.
@@zw3565 Of course there are, because affordable housing is nearly non existant.
Nice to see newer rent control options in the city
Hi how’re you doing?
I can’t believe how nice and affordable these apartments are
Beautiful. Gorgeous views, even at the highest cost these are fabulous apartments
Wow I wonder if they have 3 bedroom apartments??
I wish there were more affordable housing like this every where, in a good area like this!!!
Thanks for sharing this Cash! Love your videos! If it wasn’t for your video, I wouldn’t know this community was out there. I applied, wish me luck!!😃
1 I was going to say I remember when you toured one of these buildings previously and thought to myself oh this is the one you can get via a lottery system. Love these apartments they do seem to check all the boxes.
It would be great if you can do a follow up video of the eventual winner/occupants!!
CASH - thanks for really interesting explanation of the affordable housing 'lottery' system that New York uses. it's very different from rest of the county that uses HUD Section 8 Housing Choice Vouchers to provide federal subsidies ( assistance) to income qualified applicants. I am not sure how long the property owners are required to offer reduced rents- if it's a 'tax credit' then normally it's only 15 years and then property can rent apartments for full market -? These apartments and the building, the views! fabulous.
Units in mixes housing must have the same amenities so you can't tell which ones are low income because of the subsidies to help finance the construction.
More apartments like this needs to be available the price for this makes sense
The problem is that supply will never meet demand. They can't have enough apartments for everyone who wants one.
Getting down to my kind of money!! Beautiful views!!
I'm willing to move for $400 a month. 😳
I’m willing to move from Fl for $400 month!
Wow! I haven't seen a $397 rent since 1994 in St. Louis. Wonderful for the people who win the lottery. Love the videos of the apartments in New York. Thanks Cash. One thing though. Will you please wear a helment when on your bikes? If not for you, then for Violet and her soon to be here sibling.
Mornin Cash! Wow An affordable Apartment! Probably needs recertification paperwork every year.
Hi 👋how are you doing?
The views are the cake on top! Awesome Building and location
There were deals like this in place in NYC more than 30 years ago..the waiting lists were years long unfortunately 😕
@Cash Jordan You have the power lol @0:40 he's walking forward, you point and he goes lol
I am confused are all the apartments in the building based on income? How do they determine who gets a place? On one of the places, they say the rent varies between $500 and $3000 .So why would they ever rent to the person that would be paying $500?How are they able to offer these prices are the rents subsidized?
Oh goodness, normal people trying to make it in the world can live happily in this very nice place. I like it!
Knowing him, I thought he was gonna say $400 a week for a room.
There's probably a 5 year waiting list. Once someone get's in. I know they wouldn't leave.
How much are the non rent stabilized?
Wow the view is amazing
you are the most amazing , witty and on point orator , I love your videos just because of you, if I needed an apartment in NYC, you would be the one I would subscribe to
Thanks!
Cash, The tower you were in looks like some construction out there. Wondering if another high rise will go up to block that great view!
Wow, I'm impressed. Great building, beautiful views, lovely apartments and affordable. This must be in the Twilight Zone.
Great views loving that apartment 😍
It's incredible to see humans in business ACTUALLY consider one another instead of only seeing dollar signs.
If I were still in the city I would try for one of those. Long Island City has come a long way over the years. A nice boat ride to Manhattan...yes.