425 Grand Concourse FAQ
425 Grand Concourse FAQ
Is this property Rent Stabilized?
Yes, all apartments in this property are Rent Stabilized.
What does rent-stabilized mean? Will my rent stay the same?
Residents with a rent-stabilized lease are protected from sharp increases in rent and have the right to renew their leases at the end of each lease term.
The NYC Rent Guidelines Board determines the percentage of allowable rental increases on an annual basis.
What utilities do I have to pay?
Resident pays for electricity, including electric stove.
Are there any application or background check fees?
There are no application or background check fees.
How do I apply?
Apply online or through mail. To apply online, please go to https://housingconnect.nyc.gov/PublicWeb/details/2684. To request an application by mail, send a self-addressed envelope to: 425 Grand Concourse Apartments, 1350 Broadway, Suite 1700, New York, NY 10018. Only send one application per development. Do not submit duplicate applications. Do not apply online and also send in a paper application. Applicants who submit more than one application may be disqualified. If you are requesting a paper application, please confirm which language you prefer the application.
I submitted my application. What happens now?
After the deadline, applications are selected for review through a lottery process. If yours is selected and you appear to qualify, you will be invited to submit documents to continue the process of determining your eligibility. Applicants are usually contacted from 2 to 10 months after the application deadline. You will be asked to submit documents that verify your household size, identity of members of your household, and your household income. This process will begin at the end of April 2022.
Can I change my application? (i.e. add/remove household members, change household income, etc)?
Yes, you can change your profile even after the lottery deadline. Log into Housing Connect and edit your profile as desired.
Any updates made to your profile prior to being contacted to submit documentation will be visible to Management.
I am experiencing problems with Housing Connect 2.0. Who can I contact?
Call the HPD helpline at 212-863-7990 or email at [[email protected]](mailto:[email protected])
When is the earliest possible move-in date for eligible lottery applicants?
The earliest estimated move-in date is June 2022.
When can I view the apartments?
As of March 2022, the building is still in construction. Therefore, we are not scheduling any building or apartment tours at this time. However, you will be able to have the opportunity to view the apartment once construction is complete and during your eligibility process -, prior to lease signing and move-in.
What is my Log Number? What does that mean?
Your Log Number is randomly assigned by Housing Connect after the application period closes.
Your Log Number determines your place in line for an apartment. For example, if you are Log#1 you are the first applicant that will be contacted by our project managers. If you are Log #800 then there are 799 applicants ahead of you in line.
If I have a very high Log Number should I give up on the process?
No. It may take us longer to reach out to you but many of the applicants in front of you in line may not be eligible for their desired apartments.
What happens after I am contacted and told what my Log Number is?
Depending on your Log Number you will either have to wait until the applicants ahead of you are processed or (when it’s your turn) Management will contact you through Housing Connect and ask you to provide documentation to confirm your eligibility.
If Management contacts me does that mean that I’m guaranteed to get an apartment?
No. A request for documentation does not guarantee an apartment.
When you receive a request for documentation it means that Management has reached your Log Number and based on the income entered on your application you appear eligible for an available unit.
Your household will still have to prove eligibility and be approved by HDC.
Keep in mind that there may still be other applicants ahead of you in line.
What documents do you need to confirm eligibility?
You will be asked to submit proof of income and household member verification documents. When you are called for an eligibility appointment, we will provide you with a detailed list of documents needed. In general, you will need:
- Government Issued Photo ID
- Social Security Numbers (All Household Members)
- Children’s Birth Certificates (If Applicable)
- 6 Most Recent Pay Stubs
- Most Recent Tax Returns (All Adult Household Members)
- Most Recent W2s (All Adult Household Members)
- 6 Most Recent Checking Account Statements
- 1 Most Recent Savings Account Statement
- Statements from any investment accounts or annuities
- Copy of current lease agreement
- Recent Utility Bills (Electricity Gas or Phone)
- Employment Verification Letter (If Applicable)
- Statement of unemployment earnings (If Applicable)
- Proof of Rental Voucher (If applicable)
What happens after I submit all of my documents?
Your documents will be reviewed by a Compliance Specialist. If needed, they will request additional documentation to complete your file. Please be aware that all applicant files must also be approved by HDC.
My application was approved by HDC. Can I sign a lease for a future date, say 3 months from now?
Once your application is approved by HDC you will have 30 calendar days to enter into a new lease.
What lease term options do I have?
You will have the choice between a 1 or 2-year initial lease term.
What costs are due at lease signing?
One month’s rent and a security deposit (equal to one month’s rent) will be due at the time of lease signing.
Accepted forms of payment are certified check or money order.