New York Post: New Crop


From DUMBO to Midtown, sleek buildings are ready for their share of the spotlight

By KATHERINE DYKSTRA
New York Post

What a difference a year makes.

This time last year, there were only a handful of new developments entering the market. And many of these weren’t even new — they simply branded themselves as new in an effort to generate attention after lackluster interest during a down economy.

In 2011 though, the market is awash in new development — a sign that the re-emergence of the New York City real estate market is in fact upon us.

No, it’s not like the wild days of 2007, when dozens of new-construction buildings dotted much of the city. But the housing stock hitting the market now is diverse and wide-reaching, in the same way that the city itself is. There’s the conversion of an 1850s-era landmarked church in Cobble Hill into about two dozen unique condos.

There’s the new Midtown skyline-changing, 600-plus-unit rental and condo, as glassy as the day is long, and bursting with amenities. There’s even one developer who’s been so smart about his investments that he doesn’t have just one new building coming to market at this moment in time — he has four, with two more in the works.

Here’s a look at the most notable new kids on the block:

Arias
Once again, the developers’ loss is the renters’ gain. Arias at 150 Fourth Ave. was originally conceived of as a condo project and has condo finishes. But now that the Gowanus building is being marketed as “Park Slope’s newest, most impressive rental community,” those finishes are going to renters.

Interiors feature solid white oak flooring, and kitchens have polished white stone counters and stainless-steel appliances. Bathrooms boast marble vanity tops, polished chrome fixtures and soaking tubs. Building amenities include a landscaped roof with cabanas, sun beds, a fire pit, a grill, a bar and Manhattan skyline views. In addition, renters get a 24-hour attended lobby, a gym with a yoga room and a lounge with a catering kitchen and bar, billiards, a plasma TV and a fireplace.

The 12-story building has 95 apartments. Prices start in the $1,800s for studios, $2,200s for one-bedrooms and $3,200s for two-bedrooms.

Contact: The Marketing Directors, 718-643-1500

Read more from the New York Post.

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