Amenities Give Luxury Rentals The Upper Hand

Pool at the Silver Towers

In a market where those with the funds to enjoy the sweet life are choosing to rent rather than own, builders are stepping it up a notch to get their attention. Precious living space and desirable square footage are being sacrificed for luxurious amenities.

What does it take to keep up with the Jones’ these days? That would be 2 tennis courts, a beach volleyball court and an amphitheater at TF Cornerstone’s new waterfront project in Long Island City, Queens; an indoor pool, spa & fitness center, and personal concierge service at the Silver Towers on 42nd & 11th; a two-lane bowling alley at The Ashley on W. 63rd; and the 54th-floor Cloud Lounge with 360-degree views at The Beatrice in Chelsea.

Bowling Alley at The Ashley

Developers say the sacrifice is worth it, though, and the numbers back that up. The Beatrice was 70% leased after just three months, the Ashley 70% leased after eight months, and a one-bedroom at the Silver Towers is renting for 20% more than any other building in the area. Not bad by today’s standards.

Photo and story source: Crain’s

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