Another new batch of luxury buildings is about to hatch
- Last Updated: 8:05 PM, June 7, 2012
- Posted: 10:22 PM, June 6, 2012
On your mark . . . get set . . . rent!
Looking for an apartment in NYC these days feels a little like being in a triathlon against Sacha Baron Cohen. Things happen quickly, and it can seem like ruthless opponents are out to kill you.
Vacancy rates are at historic lows and rents are at historic highs. And the number of new rental units coming to the Manhattan market in 2012 is relatively small: 2,596 apartments, according to Citi Habitats, the smallest figure in seven years. (To throw another obstacle in your path, a whole slew of late entries — college graduates — are jumping into the competition.)
All that being said, there are a number of new buildings, updated ones and condo-to-rental conversions that have recently hit the market in Manhattan, Brooklyn and Queens — and there are even more on the way.
Click here for NYP Home’s runner’s guide to the rentals of 2012 and beyond.
MORE IN QUEENS
The construction along the water isn’t the only thing happening in Long Island City; one of the big rentals hitting the market in the next couple of weeks is the Crescent Club (4117 Crescent St.), which was originally conceived as a condo and comes with condo goodies: outdoor pool, fitness center, landscaped garden with BBQ. Studios start at $2,100; onebedrooms start at $2,600; twobedrooms at $3,900 and three bedrooms at $4,700 (Contact: 718-383-3444). Astoria is getting a 79unit building at 1115 Broadway that will be opening this summer. “Onebedrooms will probably be in the low $2,000s,” says Cliff Finn of Citi Habitats. “Studios will be starting from about $1,800, give or take. Twobedrooms will be starting in the high $2,000s.”A198unit sister building at 1215 Broadway will open in the first quarter of next year (Contact: 212-685-7777). Even Rego Park is getting in on the act with the LeFrak Organization’s new building The Contour (9745 Queens Blvd.), 108 units in a former 12story office building. The units, ranging from studios to twobedrooms, go for $1,550 to $2,785 per month and include walkin closets, washer/dryers and kitchens with Whirlpool stainlesssteel appliances (Contact 888-852-9187).