NYT: New York Apartments Are All About the Perks

  • Client News
  • Client: Moinian

An article by the New York Times’ Michelle Higgins recently highlighted the successful model of the top NYC developers: “keep apartments small; go big on amenities.”  The biggest rental in Manhattan this year is being developed by the Moinian Group, who will be opening 605 West 42nd Street, a location with 1,174 units.  The building offers amenities such as a 70,000-square-foot fitness center with indoor and outdoor pools and a 70-foot reflecting pool.

The World Wide Group is using a similar formula to roll out their recent project in Long Island City at QLIC, a 421-unit building that offers a 10th floor pool with views of the Manhattan skyline, a landscaped roof deck with an outdoor theater and a media lounge.

As per the article:

The biggest rental building opening in Manhattan this year will also be piling on the perks. Developed by the Moinian Group, 605 West 42nd Street will add 1,174 units to the market this spring, including 235 that are designated as affordable.

To lure tenants to its Far West Side location in the Hudson Yards area, it will offer a grand lobby, lounges, a restaurant with outdoor dining, a 70,000-square-foot fitness center with indoor and outdoor pools, and a 70-foot reflecting pool, among other features. Rents will be priced at “premium levels for the neighborhood,” according to the developer.

Brooklyn and Queens are also experiencing amenity creep, as tall towers continue to propagate inland and along the waterfronts. “We are encouraging our clients to really put out top-of-the-line product and practical amenities packages, at times geared to get people’s attention,” said David J. Maundrell III, the founder of aptsandlofts.com.

That was the idea behind the outdoor pool at QLIC, a 421-unit rental in Long Island City developed by World Wide Group and its partners, Rabina Properties and Cammeby’s International Group. The 10th-floor pool will offer stunning Manhattan skyline views, said Mr. Maundrell, who is handling leasing for the building, to begin in March.

According to the building’s website, the pool at QLIC is just a part of the ” ‘fun factor’ built into its DNA.” Among the more than 28,000 square feet of amenities are a landscaped roof deck with an outdoor theater, barbecue and dining areas, and a double-height media lounge with stadium seating and Manhattan views.

The full article can be found here.

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