STUYVESANT TOWN — Applications for below-market units in Stuyvesant Town and Peter Cooper Village opened this week, giving applicants a chance to lock in a rent-stabilized apartment for as little as $2,805 per month.
The lottery, which is for one and two-bedroom apartments, began on Monday and is open through March 10 for applicants making between $84,150 and $149,490 in pre-tax household income, according to a spokeswoman for Blackstone, which owns the properties.
The lottery is part of the $5.45 billion deal Blackstone made with the city in 2015 when it agreed to protect 5,000 rent-stabilized units in the complex.
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Rent-stabilized one-bedrooms are available for $2,805 per month to one renter making between $84,150 and $104,775 per year and to two-person households making between $84,150 and $119,625 per year.
Two-bedrooms are available for $3,366 per month to couples, three-person, and four-person households making between $100,980 and $149,490 per year.
Applications are open through March 10, at which point they will be entered into a randomized computer program that will assign a number to each addition to the waitlist. As new affordable units open up over time, the managers of Stuy Town will chip away at that waiting list and move applicants in based on the number assigned to them.
In a press release about the purchase deal last year, Mayor Bill de Blasio estimated that about 300 rent-stabilized apartments turn over each year.
Lottery hopefuls may apply online or by mail. For more information, see the lottery website.
