If you’ve been itching to get your hands on a rent stabilized apartment, but thought it’d be nigh impossible in lower Manhattan, then today could be your lucky day. Stuyvesant Town and Peter Cooper Village, the giant housing complex between 14th and 23rd Streets from First Avenue to Avenue C, has an open lottery for rent stabilized apartments, starting at the low price of $1,210 per month for studios. But act fast—today's your last day to enter.
The lottery is for units of all different sizes (up to 5 bedrooms), and applicants qualify depending on their household’s annual income and size. For instance, to get a one-bedroom for $1,296 per month you either need to make between $33,880 and $48,400 annually, or be a two-person household making a combined income between $33,880 and $55,280. The amount of money, and minimum number of residents, increases with bigger units. For a full list of prices and unit sizes check out the official break down here.
But even if you meet the income standards, don’t count your chickens before they hatch. Of the qualifying applicants, 15,000 will be randomly selected (with preference given to NYC residents) for the wait list—that’s right, the wait list—which means it could be years, if ever, before you see that apartment. But considering it’s free to apply, and the potential reward (a no-fee abode with in-building laundry and 24/7 security/maintenance that is beholden to city-regulated rent increases) it’s definitely worth it.