Properties Rental in Upper West Side Has Latest Addition
The properties rental market of New York adds two glass towers to its list of properties for rent. The towers are launched in the Upper West Side, with rooms requiring rental prices that are not commonly heard among walk up rentals scattered around the area.
One of the two properties, called Aire, has 42 stories and 310 units. It was developed by the firm A & R Kalimian Realty. The rent for two-bedroom comes at a minimum of $6,000. The other newcomer, Corner, is comprised of 19 stories and 196 units. Corner was developed by Gotham Organization. The two-bedroom monthly rent for Corner starts at $8,000.
According to local rental market observers, these rents are around three times more than the usual two-bedroom rents required by most properties in the area as of March 2010. For Corner, the highest rent for three-bedrooms starts at $18,000, while Aire rents can reach as much as $20,000.
Despite the relatively high rents required by the two buildings, local real estate analysts believe that they will not have any problem getting tenants. They added that properties rental in the league of Aire and Corner is starting to attract more people. They cited the Grand Tier, a building that rents for a start of $7,000, as example.
Properties near the 72nd Street have been moving towards upscale accommodations in the past few years. Realtors have stated that this trend is evident through properties for-rent like the Time Warner Center, the Central Park West condominium and condominium units at the Apple Bank.
Rental property experts have also stated that the amenities of Corner and Aire demonstrate the shift from regular walk-ups to more upscale properties. Reports revealed that every room of the Corner has a dryer and washer, glass shelves and medicine cabinets in the bathrooms.
Meanwhile, Aire units were designed like a boutique hotel, with pedestal sinks, stainless refrigerators and mahogany floors being just some of the amenities. Rooms at the Aire range between 415 square feet and 2,000 square feet.
Properties rental in the Upper West Side used to be dominated by walk-up buildings with cheaper rental rates. The opening of Aire and Corner is being seen by local market observers as a sign that the area is now moving towards doorman-guarded buildings and more upscale properties.
