Several New Apartments Coming to NYC

Several New Apartments Coming to NYC

A number of new apartments will soon be available to residents of New York City, with some being labeled as affordable and others being constructed from the sites of former commercial buildings. Among these are a tower being constructed from the former J&R Music Site in Park Row and new apartments taking the place of a White Castle in Williamsburg. While some of these apartments are scheduled to be available this year, others are still in the early stages and won’t be available for a couple more years. Here is a look at a few of the apartments that will soon be making an appearance in NYC.

Affordable Apartments Coming to South Bronx

A new development in South Bronx will be offering a small batch of affordable apartments, though some maintain that the price is not particularly affordable for the neighborhood. Located at 407 East 160th Street in Melrose, the development offers eight one- and two-bedroom apartments available to those who earn 80 percent of the Area Median Income. As such, those who earn between $46,218 and $53,440 or two-person households earning between $46,218 and $61,120 are eligible for one of the apartments. The building has four one-bedroom apartments available for $1,348 per month and four two-bedroom apartments for $1,521 per month. According to a recent study, Bronx residents are more likely to get priced out of their neighborhoods than residents of other boroughs. In fact, approximately 56 percent of Bronx households qualify as rent burdened.

COOKFOX-Designed Tower Constructed from J&R Music Site

Nearly a year after revealing plans to construct a residential tower at the site of the J&R flagship store in Park Row, construction on the COOKFOX Architects-designed building has finally started. Developed by L+M Development, the condo will stand 45 stories tall and will boast 110 apartments once completed.  The development will also boast 55,000 square feet of retail space.

The development team closed on a $253 million construction loan from the Bank of the Ozarks earlier this year, but the project is expected to cost $500 million to complete. Construction is expected to be completed on the project, which will have a an address of 25 Park Row, sometime in 2020.

New Apartments to Replace White Castle in Williamsburg

A new 81-rental apartment building will soon be standing on the former site of a Williamsburg White Castle. With the orange brick building recently topped out and a glass safety barrier installed along the roofline, the building’s apartments are expected to be on the market this summer. With interior s designed by Paris Forino, some of the features will include white oak flooring, contemporary bathroom fixtures and high-end kitchens with stainless appliances.

Developed by Adam America and designed by Isaac & Stern, the new building is located at 371 Humboldt. Rentals will include one-, two- and three-bedroom units along with 10,000 square feet of retail space. Some of the units will come with private terraces and all residents will be able to access the landscaped roof deck and resident lounge complete with a pool table, a poker table and a screening area.