The Observer's Luxury Rentals Monthly

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Luxury RentalsMonthly

Cover Photo :

184 Kent Avenue WilliAmsburg’s

neW Digs

luxury rentAls uncovereD

Plus luxe living in brooklyn: surprisingly Affordable!

the new york observer 2 l January 26, 2010


January 26, 2010 l 3the new york observer

Luxury Rentals

luxury has many looks in 2010“Reality is, obviously, back two or

three years ago, rents were pushing through the roof,” says developer Jeffrey Levine, of Douglaston

Development, who just unveiled the posh 288-unit Ohm building in West Chelsea last week. “We anticipated a higher price per foot, and things have come down,” said Levine. Now at Ohm, to put it politely, “rents reflect the current market,” according to Levine. And to put it bluntly, you can get a steal in many buildings. Levine sees lots of young people moving to the city who want to live in safe and trendy neighborhoods. This is the group most well

positioned to rent at luxury buildings like Ohm. Just upmarket from there, Rae Gilson, Director

of leasing for buildings like the newly renovated Eastbridge Landing and The 64, a new building on the Upper East Side, sees people getting older and wanting to move to a nicer neighborhood, but still hoping to rent because of the market. “More of them have come from Murray Hill than anywhere else,” says Gilson, noting a trend for young professionals to move to the Upper East Side, where renting is traditionally tight. “They felt it was the next evolution in New York living,” Ms. Gilson said, of the 30-somethings she has met seeking a quieter neighborhood.

But at the top of the market, nothing has really changed, at least according to developer Michael Bolla. In other words if you could afford to rent at the super-luxe end, you still can, and your reasons have not changed, i.e., one-of-a-kind luxuries, white-glove services, and the lack of responsibility that comes with renting. “Rental prices on the high end are less vulnerable than sale prices on the high end. For special apartments, there is a failsafe; they don’t travel with the market.” And the amenities offered in Bolla’s small building in Chelsea are evidence that the market is not entirely the disaster some make it out to be.


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QUALITY, CHOICE, EXCELLENCE

For all the talk of a newly flexible rental market, apartments still rent at $20,000 per month in this city. So what’s the deal? the deal is, you can get one, but the market is a little more nuanced than some might have you believe.

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the Corner at 200 West.





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436 W. 20thluxury lofts and homes(212) 334-4782www.michaelbolla.com

Perhaps at the top of the market, renting for $15,000 to $20,000 per month is the exquisitely placed 436 W. 20th. Overlooking the river and the General Theological Seminary of the Episcopal Church, the West Chelsea mansion developers Michael Bolla and Michael Daniel have converted to luxury apartments has four units available for short-term or traditional leases. The spaces feature ultra-luxe amenities such as a live-in butler, who will, among other things, make a fire for you in one of 13 fireplaces in the building. The décor combines old-world and contemporary touches- original Czechoslavakian chandeliers that have been restored (along with all the original woodwork) are combined with Liebherr refrigerators, Bosch washers and dryers, and Miele dishwashers. Surrounding din is dampened by Quietrock technology and the all custom furniture is by George Smith- if you want it, they are also available unfurnished. Apartments have 14- 17 foot ceilings and are 25 feet wide, offering unprecedented space for a rental building in Manhattan. Not to speak of the personal touches- antique pieces the developer bought himself in Paris- and incredible hand-on services available. “I live on 5th Avenue facing central park and I actually think the view of the seminary is prettier,” says Michael Bolla of the building once owned by the Cushman family. A specialist in historical preservation, Bolla says he and his partner restored the 1835 mansion as a labor of love. “No effort or expense has been spared… [but] we really did this because we love the building.”

184 KentJMh DevelopmentRentonkent.com(718) 302-0480Manhattan Class A, in BK

Loft-style, class A, all-rental buildings generally show up only in the trendiest spots in Manhattan. JMH Development has put an end to all that. Purchased from the National Park Service, JMH had to make the hundred-year-old building into rentals as part of the deal. They are now leasing aggressively at the same demographic as would rent in the Lower East Side or East Village, at a discount of approximately 20%. And when you think of the commute to Union Square- about 7 minutes- can’t really beat that offer. 184 Kent’s marketing campaign, a mock hipster dating site

Below is a guide to luxury rentals- ranging from relatively low to very high- and featuring those new to the market, recently renovated,

and soon to premiere. We have assembled a list that crosses neighborhoods but is emblematic of trends in luxury leasing- the

hyper-marketed in Williamsburg to the extravagant features available in Chelsea and on the Upper East Side. Each has its own character

and distinctions- you’ll have to decide for yourself.

184 Kent.

436 West 20th Street.





Tungsten Property is a boutique brokerage active within Manhattan, and much of Brooklyn and Queens.

Please contact us 24 hours a day 7 days a week at 1-8TUNGSTEN1 (1-888-467-8361)

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tungsten property + 187 lafayette st., ph + new york, ny 10013

We are adept at sourcing properties in all price ranges, and additionally for relocation or short-term.

RESIDENTIAL RENTAL SERVICES

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called WilliamsburgLove.com, has been both decried as sickeningly predictable and hailed as satirical masterpiece, a clever skewering of the (fortunately) irony-gobbling demographic likely to rent in the building. Renting to folks who would otherwise rent at “Truffles in Tribeca or the Ludlow,” says Jason Halpern of JMH Development, 184 Kent has “those types of finishes and amenities- we’ve taken it to a higher level.” The restored loft building- a rarity in rental- also boasts tons of outdoor space due to its horizontal style. And for those looking for a historical, older building that has been re-done, you won’t find anything else- Mr. Halpern says it is the only large-scale rental development in Brooklyn. Designed by Cass Gilbert of Woolworth building fame, 184 Kent could be a great lifestyle accessory for the right match- likely young people who want to stay in Brooklyn, have a sense of humor and want to move up in luxury.

the 64300 E. 64th Street64rentals.com

So you moved to the city for that job in advertising, public relations or finance your first year out of U Penn. The apt in Murray Hill consumed a lot of monthly income, but Dad helped a little and at least there were no mice- you could get the most space for your dollar there, and the neighborhood was full of people like you. Now, you’re 30, just got engaged or got a promotion. Feel like you are outgrowing that apartment above the Indian restaurant in the 30’s? The 64- 300 E. 64th St- boasts a number of things you might be looking for, perhaps most prominently location. The Upper East Side does not have lots of new rental space, and the 64 offers more than a just high-end apartment with a Julian Schnabel in the lobby- it offers a social life. The upscale building, which began renting last April, is 73- 75% rented, according to leasing agent Rae Gilson. Sushi, continental breakfast (complete with white wine) and other mixers tba await those who rent there. Upgrade now!

1510 lexington Carnegie hill Placewww.1510lex.com(212) 348- 0500

Combining granite countertops and the environmental security of a smoke-free, likely to be LEED silver certified building, 1510 Lexington might seem oddly placed on the Upper East Side. But don’t ask too any questions when the place has energy star appliances, a rooftop with barbecues and fireplaces, features floor-to-ceiling glass in many units and rents starting at $2250. The building has studios, one, two and three bedrooms in 18 stories at 97th street. It is also New York City’s first smoke-free building. Seems like a real bargain for amenities like 24-hour concierge. Not to speak of the pre-wired wi-fi and cable, children’s playroom and on-site cafe. The rent-stabilized apartments debut in February.

Emerald Green Glenwoodwww.emeraldgreennyc.com(212) 695-3838

Living up to the ideas associated with its color, Glenwood’s “Emerald Green” is another option for the environmentally conscious. The 568-unit Midtown West megalith is on track to enter Phase II of leasing at the end of January or early February. Luxury need not mean excess, apparently, as this, the first Glenwood project designed for LEED certification, uses a “high percentage of

463 W. 20thDeveloper- luxury lofts and homes(212) 334-4782www.michaelbolla.com

300 E. 64th Street.

1510 lexington.

Emerald Green.





RP MILLER & ASSOCIATES, INC. EXPERIENCE. CREATIVITY. RESULTS.

www.rpmillernyc.com

Whether it’s a rental, sale, sublease or corporate lease transaction

RP Miller & Associates, Inc. recognizes the desires and interests

of each client to assure an easy transaction. Clientele include:

investment bankers from the largest houses, renowned corpora-

tions, international clients from South America and Europe, and

domestic buyers; all receive the best support possible.

25 years of Real Estate Service

recycled-content construction materials from regional sources, and ensures water preservation with water-efficient plumbing, and green roofs utilizing recaptured water for irrigation,” according to a press release. The building is also fitted with occupancy sensors for lighting in common areas, so as not to waste energy, and roof terraces feature heat-reflective pavers. We’re not even sure what that means, but figure they probably get an “A” for effort. Sticking with the “green” theme, limestone planters dot the outdoor terrace. A glass-enclosed corridor connects lobbies to gardens and a reflecting pool. The location is a bit of a no-man’s land, but, if you happen to own a car you can fix that fast- for the totally tricked out environmentalist there are electric car chargers provided in the 400- car garage.

ohm Douglaston Developmentwww.ohmny.com(212) 564-2288

Also breaking barriers with regard to luxury is the West Chelsea tower Ohm, a 288-unit building now leasing market-rate apartments with condominium-level finishes, at astounding prices. Ohm, which used the same designer who did the Gansevoort hotel, began leasing just last week, and the apartments are going fast, according to Developer Jeffrey Levine. One impressive feature is the four-story lobby that will serve as a “public performance

and multimedia space.” That lobby also features a concierge service that will do your personal shopping- any kind. Weekly performances in the lobby are curated by the Knitting Factory club. And in a move sure to please the particular demographic- young people just moving to the city- that Douglaston hopes to court, the lobby also features retro video games, such as Pacman.

Ohm is re-defining luxury, really, and (god love the recession) these apartments start at $2,005 per month. Other amenities to boggle the mind include a shuttle service to the nearest subway, and Zipcars onsite.

Alas, the truly abiding quality of Ohm is somehow not the price or comforts, but the location. As Levine points out, the Highline, the expected expansion of the 7 train and the Chelsea Piers facilities (with whom Ohm has a facilities share agreement) make this spot quite desirable. Levine goes as far as to say that the Highline is the most exciting new happening in New York City in many years. “I don’t want to compare it to the opening of Central Park a hundred years ago, but…” Well, he will.

the Brooklynerthe Clarett Groupwww.thebrooklyner.com(718) 246-0111

The website boasts that “the Brooklyner has been designed for the people who make Brooklyn an interesting place to live.” Brooklyn’s tallest building opened for leasing in December, with studios starting

TrendsNearly by definition those renting high-end apartments in Manhattan (and increasingly

Brooklyn) belong to a demographic accustomed to certain luxuries, and as

all things luxury do, these things change constantly. Like the clothes modeled in

Bryant Park, the amenities offered in high-end buildings vary season to season. These days it looks like the trend of the day is… stretching rooms! The newly fashionable

comfort is making its way into the marketing material for many new buildings. What

is a stretching room exactly? Apparently a cushioned space for meditation and

preparation for yoga or other workout. Well, I’ve always wanted (needed?) a padded room.

ohm.





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tungsten Property is a Soho based boutique, private, international real estate brokerage procuring residential and commercial office (class A through C and sublease) or retail space and residential condo and coop apartments. Our NYC based real estate agents cover Manhattan, and areas of Brooklyn and Queens. Our website has top 10 ranked web traffic for all New York City real estate companies. We can be reached live 24 hours a day at 18TUNGSTEN1 (888-647-8361).

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W W W . T U N G S T E N P R O P E R T Y. C O M

at $1,275 per month. Pretty astounding deal considering the building features a 24-hour attended lobby, valet parking and common sun deck on the 51st floor. Hardwood flooring and modern Italian kitchens fill out the package. And imagine the view of Manhattan. The Brooklyner, aka 111 Lawrence Street, is also proximate to more subway lines than any apartment in Manhattan could be. Perhaps this is the look of things to come in Brooklyn…

“There has been a strong initial response to The Brooklyner,” said David E. Perry, Director of Leasing for The Clarett Group, in a press release. “There has never been a better time for renters to upgrade to a brand new building in one of New York City’s most connected neighborhoods.” Well, check it out for yourself- price can’t be beat.

Eastbridge landingwww.eastbridgelanding.com(212) 684-1333

377 East 33rd Street, otherwise known as Eastbridge Landing, recently got “primped up,” as leasing director Rae Gilson puts it. The nine year old building re-did their gym and spa, got a new media center as well as ipod docks and flatscreens for their gym, turning the 23-story tower into prime luxury real estate. At first Ave. and 33rd street, Eastbridge would be perfect for students of NYU’s medical school. There is a rooftop terrace, “cinema room,” and 24-hour concierge. “It’s very modern and has a youthful character,” says Gilson. The renovation is not yet complete but is in its final stages. Studio up through four-bedroom apartments are available.

CoMinG Soon the Corner at 200 WestGotham Real Estate www.200west72.com(212) 721-1200

The highly anticipated project at 72nd and Broadway, a 20-story mixed use glass tower, is nearly complete, and will likely begin leasing at the end of February. Likely to receive LEED silver certification, the building incorporates five floors of retail in its glass box structure. The building, designed by Handel Architects, features a unique glass design, which involves an 80% glass façade on one side of the concrete reinforced tower. And the amenities are countless, everything you would expect: Liebherr appliances, Sub-Zero wine coolers, Restoration Hardware light fixtures, Kohler faucets, a roof deck, children’s playroom, concierge services and on-site valet. And the Upper West Side location is unbeatable, with express trains, shopping, Lincoln Center, etc.

CoMinG Soon34 Berry

lCoRwww.34berry.com(212) 210- 6666

In trendy north Williamsburg, conveniently proximate to near beer halls and McCarren park, 34 Berry will make its debut this spring. The ground-up rental building sits at N. 12th and Berry, affording park and Manhattan views for its upper floors. Perks include a rooftop terrace, rooftop lounge, on-site fitness facility and parking, but really the main perk here is location- minutes to Manhattan, tons of shops and services on Bedford Ave., and the thrill of being in the middle of Brooklyn’s trendiest hood. Rose Associates are handling leasing.

two trees Management Co. is pleased to announce it’s collection of NO-FEE apartments. Each building has its own superb array of amenities, many of which include a 24- hour concierge, individual washer and dryers, on-site parking, outdoor courtyards or rooftop gardens and fitness centers. In the artist waterfront community of DUMBO, is an intimate portfolio of historic loft style properties each with its own rich history. For more information please visit www.TwoTreesNY.com

two trees ManageMent Co

184 Kent is an exciting new luxury rental now leasing 340 spacious loft apartments on the Williamsburg waterfront. 184 Kent features amenities that surpass those found at any other rental in Brooklyn, and the building offers striking views of the East River, the Williamsburg Bridge and the Manhattan skyline. Select apartments look upon a massive, fully landscaped interior courtyard that’s been created in this historic building which was originally designed by famed architect Cass Gilbert. www.rentonkent.com.

184 kent

the lucida, a dramatic 21-story glass curtain wall building developed by Extell Development Company, features a limited number of luxury rental apartments. Offering residents a lifestyle that combines the prestige of the Upper East Side with eco-consciousness, the Lucida also includes the ultimate in modern amenities: a LA PALESTRA Fitness, Wellness and Spa Center, indoor playground designed exclusively by Kidville, N.Y., private lounge and game room, wine cellar and bike storage. For more information, call 212.585.1510

Emerald Green, the latest luxury rental building by Glenwood, seamlessly combines impeccable finishes, services and amenities with responsible living. Comprised of 568 spacious apartments ranging from alcove studios to two-bedroom, two bathroom homes, Emerald Green stands as the prime addition in Midtown West. Emerald Green residents enjoy such convenient features as front-load washers and dryers in every home, 24-hour doormen and a state-of-the-art fitness center with a 50-foot lap pool. Visit www.emeraldgreennyc.com or call (212) 695-3838.

eMerald green

Whether it’s a rental, sale, sublease or corporate lease transaction RP Miller & Associates, inc. recognizes the desires and interests of each client to assure an easy transaction. Clientele include: investment bankers from the largest houses, renowned corporations, international clients from South America and Europe, and domestic buyers; all receive the best support possible. The one on one approach practiced at RP Miller & Associates offers the best representation by placing the client first. Our agents are available by direct phone, cell phone, or email 24 hours/day, 7 days per week. Please contact us at 212-980-4449 for more information.

RP MILLER & ASSOCIATES, INC. EXPERIENCE. CREATIVITY. RESULTS.

www.rpmillernyc.com

Whether it’s a rental, sale, sublease or corporate lease transaction

RP Miller & Associates, Inc. recognizes the desires and interests

of each client to assure an easy transaction. Clientele include:

investment bankers from the largest houses, renowned corpora-

tions, international clients from South America and Europe, and

domestic buyers; all receive the best support possible.

25 years of Real Estate Service

rP Miller & assoCiates

the Brooklyner.Eastbridge landing.

the Corner at 200 West.

nexTediTions are:

February 24March 24april 28May 19June 23July 28

For advertising information please contact:

robyn Weiss, real estate director212-407-9382 [email protected]


Luxury Rentals

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