This $397 NYC Apartment Will Change Your Life…
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- Опубликовано: 13 авг 2022
- This is the cheapest apartment in NYC at $397 per month… and paying this to live in an incredible luxury apartment in New York City would be absolutely life changing. Let me know what you think of this incredibly affordable apartment in NYC!
Visit gothampointlottery.com to get a place in this building!
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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
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 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!!!!😂😂😂
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
@@FinanceNik98 I was working hard too. And my job was not fun.
@@FinanceNik98 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).
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 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 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
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
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
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
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
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! 👍
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 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,
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
I’m super excited for this. The future of affordable clean wow housing. Favorite vid since following you 👏🏼👏🏼👏🏼👏🏼👏🏼❤️
Halo
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 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!!!!
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
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.
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
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?
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!!
Income based apartments. These are really really nice. What a great place loved this. This is very good information. Thanks Dude!!!
What a deal for someone! Best wishes to all that apply.❤
WoW! Beautiful beautiful scenery and apartment! thanks for sharing! 🥳👍
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. 👍
$397? You can’t beat that price! That’s any New Yorker dream to have, even me 😍
The views are absolutely amazing !!
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😢
Definitely worth looking into! Thanks for sharing!
These are really nice units, hope more and more people can benefit from this!
Wow amazing views!! I really like these apartments! Especially based on income. Very nice.
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
Whoooo! Affordable housing video! More of these please ❤️❤️❤️
Go 'head Cash! Great video. Love to see that you focus on all levels of income in your videos.
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.
I applied for this building a few months back, gotta wait and hope to hear back.
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.
Can u say public housing Section 8 apts. Come back in 5 years and see the trash and grafiti in the halls and elevators.
Exactly. Riddled with crime and gangs and welfare mother's and excrement!
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.
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.
Wow. That is an amazing location with an amazing view, and affordable too.
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.
The views are the cake on top! Awesome Building and location
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!!😃
I love watching your videos Cash, your comments are flipping hilarious 🤣🤣🤣 I love it!!!
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.
Has to be the best value apartment ever!..so beautiful . The views are amazing x
Beautiful. Gorgeous views, even at the highest cost these are fabulous apartments
Hey Cash! Very affordable & every unit so far, has great views! 🌇🗽🚕
You cannot beat those views. And the ferry doesn't cost any more than the subway, which is a big plus.
Another awesome video, love your cinematography!!
Thank you for your videos Jordan! Your videos help out a lot and give me ideas for my channel as well. Thank you!
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.
Need more places like this. Beautiful affordable apartments that goes by income.
Now that is affordable housing and both are really nice😍
What a gorgeous view too😮
Wow now that is good place to live for all kinds of incomes. Very smart. Loved the video and all the restaurants. See ya
I'm willing to move for $400 a month. 😳
I’m willing to move from Fl for $400 month!
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.
Love your videos man you are killing it I am going to apply let's see how it goes
That rooftop view is AMAZING! I like that place.
This is incredible, these apartments really are bargains and those views are amazing
Fantastic affordable housing! I'm impressed. Way to go, NYC!
Hi 👋 how are you doing?
Most loved apartment yet affordable new the views are amazing, good job cash 👍🏼
It's nice to see a follow up to your original video from months ago when they were in the process of building these
What great apartments and good idea with the pricing depending on your income !
Mornin Cash! Wow An affordable Apartment! Probably needs recertification paperwork every year.
Hi 👋how are you doing?
Getting down to my kind of money!! Beautiful views!!
Thanx about the affordable housing units, that's a great help
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
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!
I love this place. The one bedroom is very doable. Stay healthy, happy and safe always. Blessed be
I love this place, absolutely stunning views.💜
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.
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
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.
Great views loving that apartment 😍
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.
Mind-blown at modern finishes, views + price points...
Just wanted to say thank you for this video. I had no idea about this affordable nyc housing website. Multiple affordable housing lotteries! Some are too expensive but fingers crossed I get chosen🤞🏼 thank You!!
All of the places are beautiful!
I applied for multiple lottery apartments and only got contacted when I moved to a whole new state. The process is so long.
These are just SOME of the deals in NYC for those that are willing to research. This is why I always comment that not everyone in NYC lives in the garbage apartments often shown on this channel. This neighborhood is awesome and pretty close to mid town Manhattan.
You literally have to win a lottery to live here. I wouldn’t really call this regular housing
This place just open, and once the low income units are snapped up, they are off the market. There is not a steady influx of new projects including low income housing
this is the best thing i coulda come across as i’m planning on moving to ny soon
Wow the view is amazing
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! 😱
There were deals like this in place in NYC more than 30 years ago..the waiting lists were years long unfortunately 😕
These are really nice apartments, and what a deal for them, very nice for different income brackets! I love the look of that set up apartment; the brown furniture helped make it even cozier. :D
Very kind and generous of these commercial properties.
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
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.
Wow, these places are amazing. i´m totally in love in with app no. 3.
These features with this price, That's amazing !
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?
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!!!
"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
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.