Gotham West – 550 West 45th

Midtown West is slated to add another huge residential project to its fast expanding neighborhood.  While recent luxury rental additions have sprung up in the area, including Silver Towers (1360 units), MiMA (hotel + 800 units) and Mercedes House (850 units), this new project is a slight deviation from the norm.

 

While Gotham West (name subject to change upon arrival) will provide the Hell’s Kitchen area with luxury market rate units, more than half of the 1,263 units will be income-restricted rental apartments.  In fact, this project represents the largest-ever affordable project undertaken in New York by a private developer, according to a spokesman for the Department of Housing Preservation and Development, which previously controlled the site.

Breaking ground this summer, the project is expected to open in 2013. The project will take up nearly an entire block from 44th to 45th and from 10th to 11th.

The developers, Gotham Organization, Inc., have allotted 556 luxury units to be located on the site’s western side.  Ranging from floors 7 to 31, the units will be arranged in a single U-shaped building which David Picket, the president of the Gotham Organization, said was chosen to diversity the streetscape and “give it a little delicacy”.

While rent has yet to be determined for these units, area market-rate one bedrooms , on high floors with sweeping views, average $4000/month. 25 Condos will also be built in the 40,000-square-foot former elementary school on 45th street.  No design or price information is available yet.

The remainder of the apartments will be available at a reduced rent and reserved for qualifying families who make below a certain income level, with three tiers of eligibility.  While the $520 million project has qualified for tax-exempt bonds from New York’s Housing Finance Agency, Gotham will still contribute $200 million of its own financing.

The majority of the affordable units will be located at midblock between 44th and 45th while others will be sprinkled among the market-rate apartments on the western side.  An additional 243 apartments will be in a pair of 14 story towers on the eastern side.

Amenities for all units include stainless-steel appliances and granite counters.  The midblock boasts a landscaped, Wi-Fi-enabled two-level private courtyard.  Market-rate units will get wooden strip flooring while affordable units will have parquet.  There is also a 15,000-square-foot retail space on the western side, with rumors of a specialty food store becoming its future occupant.

Although this site was condemned by the city over 40 years ago, megadevelopment is the trend for the future.  With the influx of housing, this transitioning neighborhood should hold strong and becoming a more stable area for developments, both luxury and affordable alike.

Pet-Friendly Pick of the Month-MiMA

Set to open this month at 450-460 W42nd Street between 9th & 10th Avenue, MiMA is the newest luxury addition to Midtown Manhattan’s skyline.  Designed by one of the world’s leading architecture and design firms, Arquitectonica, this 63-story glass wall residential tower features 50 floors of luxury rentals, 151 tower condominiums, plus a new 669-room Yotel.  Not just for living, this building also features exciting new retail and dining experiences and the all-new Frank Gehry designed Signature Theatre Center.

Residences

When you walk into MiMA, you will feel David Rockwell’s design sophistication every direction that you turn, from the double-height wood and glass lobby, the furnished corridors and the finishing touches in each residence.

Amenities

M Club at MiMA is the ultimate residential amenity. Totaling over 44,000 square feet, M Club provides an array of health, recreation and entertainment facilities including three landscaped outdoor terraces, a full-size indoor basketball and volleyball court, heated lap pool, residents-only fitness center by Equinox, indoor screening room, private party rooms, catering kitchen, tech center, game room with billiards and Wii.  The furnished, landscaped, outdoor terrace, sitting at the top of the city, makes you feel like you are miles away from hustle & bustle.

Pet-Friendly

When looking for a pet-friendly space, you want to ask the specifics, i.e. what animals are allowed, if there is a weight-limit, etc.  At MiMA, both dogs (under 50 lbs & no aggressive breeds) and cats are allowed.

One amenity that is perfect for the dog-owners is “Dog City”-a fully-equipped, professionally-staffed pet spa that features an indoor and outdoor play space.  It also includes a wash, dry and groom facilities, on and off-site vet care, pet training, scheduled dog walks and pet play dates.

Location

In the middle of it all (literally), MiMA is situated in the heart of Manhattan.  Theatres, phenomenal restaurants, nightlife, indoor/outdoor markets, museums, shopping and parks are all at your fingertips!  Bowlmor Lanes Times Square, Bryant park, Hudson River Park and Theatre Row are a few of the cultural highlights that are in your backyard.

Emerald Green – 320 West 38th Street

Emerald Green is a luxury apartment rental building located in the Garment District. It is the first green building in the area, and sets the bar fairly high for new builds. The condo-quality finishes in each of Emerald Green’s apartments for rent are singularly sustainable, from the bamboo flooring to the energy-efficient windows to the Energy Star-rated in-unit washer/dryers and GE appliances in the gourmet kitchens. Green building management systems also ensure that the living experience at Emerald Green is top-notch — a building-wide water filtration system reduces waste and provides ultra-clean water right out of the tap; occupancy sensors ensure that public spaces are ultra-efficient as well.

Units and Pricing

There are a bevy of units available at Emerald Green currently, ranging in size from studios to two bedrooms. The building features 569 units total. Studios start at $2,995/month and go up to $3,250/month if that studio includes a home office space. A one bedroom starts at $3,495/month; add on two baths and a home office and you’re at $4,095/month. Two bedrooms are priced at $4,750 and have two baths.

Features and Amenities

The condo-quality finishes in each of Emerald Green’s apartments for rent are singularly sustainable, from the bamboo flooring to the energy-efficient windows to the Energy Star-rated in-unit washer/dryers and GE appliances in the gourmet kitchens. Green building management systems also ensure that the living experience at Emerald Green is top-notch — a building-wide water filtration system reduces waste and provides ultra-clean water right out of the tap; occupancy sensors ensure that public spaces are ultra-efficient as well. Kitchens feature granite countertops, while bathrooms are done in marble and porcelain. All units have nine foot high ceilings and floor to ceiling windows.

Amenities at Emerald Green are of condo-quality. You’ll find a state of the art fitness facility with a 50-foot lap pool and whirlpool spa, a 24-hour doorman along with maid and valet service and an on-site garage. There’s also a sustainable rooftop sun deck, a children’s playroom and private terrace, as well as a residents-only screening room, lounge and library.

Location

One might think that Emerald Green’s placement in the middle of the Garment District is odd, but in reality, it’s quite a logical placing. The building is just a short walk from a variety of public transportation options, as well as Penn Station. It’s also close to one of the hottest neighborhoods in the city right now, Hell’s Kitchen, which is full of boutiques, bars and eateries. Between the easy commute to Midtown and the locational amenities provided by the Penn Station area, you’ll never lack for something to do or somewhere to go.

Why You Would Want to Live Here

Emerald Green is a top-notch choice when it comes to luxury sustainable apartments. It offers a building that has truly gone above and beyond when it comes to crafting an environmentally-friendly living experience, and none of the apartments sacrifice style in the slightest. On the contrary, the units are beautifully finishes and are quite sophisticated. In terms of Garment District apartments, Emerald Green is setting the bar quite high. Whether this will prove to be Manhattan’s next big residential neighborhood is unknown, but the truth is, even if it doesn’t become so, the amenities of the nearby Hell’s Kitchen and Penn Station are enough to satisfy residents.