This mid-19th century townhouse in Manhattan’s often overlooked neighborhood of Kips Bay might be a dime a dozen in a Brooklyn neighborhood like Cobble Hill. But in Midtown it’s asking $4.3 million and it looks as cute as a button somehow. This four-story-plus-cellar Greek Revival-style (officially) three-family home sits on a pretty tree-lined residential street. At 18-inches wide its well-maintained and fetching façade is highlighted by custom contrasting shutters.
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Located in a boutique 1931 Bing & Bing co-op in Kip’s Bay, a renovated one-bedroom pad has hit the market for $799,000. The light-filled apartment at 140 East 28th Street boasts charming pre-war details like a wood-burning fireplace, arched entry, beamed ceilings, and a classic layout that efficiently separates dining and entertainment areas.
NYC’s Housing Connect has announced today that it will re-open its waiting list for Henry Phipps Plaza South, an affordable residence located at 330 East 26th Street in the heart of Kips Bay. The 14-story post-war building boasts a total of 407 units and was developed under the Federal housing financing program. As such, 290 of the units have been reserved for New Yorkers earning less than 50 percent of the area median income, and residents of this building will pay no more than 30 percent of their adjusted income on rent.
We’ve been hearing a lot recently about the city’s new micro-apartments. As 6sqft has reported, NYC’s first micro-apartment complex Carmel Place (formerly My Micro NY) at 335 East 27th Street began leasing at the end of last year. The nine-story modular development in Kips Bay has 55 studios that are 260 to 360 square feet. Of these, 22 are affordable and they’ll go from $950 to $1,500 a month.
Market-rate units on the other end range from $2,540 to $2,910. According to CityRealty, the average rental price per square foot for New York City apartments overall is $51, while Carmel Place units ring in at $98 per square foot. The idea of micro-housing was presented, in part, to address the need for more affordable apartments. So why is it that the result is what a recent New Yorker article calls “micro-luxury” housing?
Just before the new year, listings went live for NYC’s first micro apartment complex Carmel Place (aka My Micro NY aka 335 East 27th Street) in anticipation of its opening in March. The nine-story modular development in Kips Bay has 55 studios that are 260 to 360 square feet. Of these, 22 are affordable (more than 60,000 people applied for them), and they’ll go from $950 to $1,500 a month depending on size and income.
The remaining market-rate units will range from $2,500 to $2,900 per month, which has left many skeptics questioning why anyone would fork over nearly three grand for a space that is far smaller than conventional studios. To put this argument into an actual visualization, the data gurus over at NeighborhoodX created a simple, yet informative graph that compares the rental price per square foot at Carmel Place with that of regular studios across the city (h/t Curbed).
New rendering of Carmel Place interiors, via Monadnock Development/nARCHITECTS
An apple a day may keep the doctor away, but living in a micro apartment may drive you to seek professional psychological help. A recent article in The Atlantic takes a look at the tiny living trend that has taken the nation—and in particular New York, with developments like My Micro NY and teeny renovations like this one—by storm, and finds that squeezing into an extra-small space could lead to health risks.
“Sure, these micro-apartments may be fantastic for young professionals in their 20’s,” says Dak Kopec, director of design for human health at Boston Architectural College and author of Environmental Psychology for Design, to the magazine. “But they definitely can be unhealthy for older people, say in their 30’s and 40’s, who face different stress factors that can make tight living conditions a problem.”
Carmel Place (formerly known as My Micro NY), the city’s much-talked-about first micro apartment complex, began accepting applications for its affordable studios back in September (since then, 60,000 people have applied). And now, a press release from developer Monadnock has announced that listings for 12 of the market-rate units will go live today in anticipation of the February opening date. Along with the launch comes news of Ollie, “an innovative housing model that delivers an all-inclusive living experience.”
The nine-story modular development will have 55 studios ranging from 260 to 360 square feet, 22 of which will be affordable (of these, 8 will be set aside for formerly homeless veterans) and go for between $950 and $1,500 a month depending on family size and income. The remaining 33 will see prices ranging from $2,540 for a 265-square-foot, furnished, third-floor unit to $2,910 for a 335-square-foot, furnished, second-floor unit.
The busy architects over at Issac & Stern posted on their website an image of a yet-to-be-built 19-story tower at 378-380 Third Avenue in Kips Bay. Their page indicates the building will be residential and commercial and will encompass approximately 61,000 square feet of floor area. The development would replace two existing five-story walk-ups that each contain well-regarded drinking and eating establishments. The ground floor of 378 Third Avenue is occupied by the east side branch of the highly rated Italian restaurant Coppola’s Trattoria, and next door at 380 Third Avenue, the ground floor is occupied by the bar Tavern on Third, which hails itself as one of the best Chicago Bears bar in New York City.
Here’s a NYC apartment that’s thoroughly Manhattan, but, if you’re standing in the right spot, could be any suburban home. Located in a bustling East Side spot that’s either Gramercy, Kips Bay, Murray Hill or Midtown South, depending on whom you talk to, this two-bedroom garden condop at 242 East 25th Street just hit the rental market for $6,500/month. And if you can’t bear to part with it, you’re in luck, it’s also for sale (asking $1.995 million).
The apartment is only 939 square feet, but it’s well-configured, with bedrooms on either side of spacious common areas–and, more importantly, one of those areas is a glass-walled solarium that overlooks a 785-square-foot private deck and backyard that extends your space in a way most New Yorkers envy.
Moving day inches closer for those looking to claim a module in the city’s first micro apartment complex. As of this week, My Micro NY is fully stacked, rising 120 feet from its site at 335 East 27th Street at the border of Gramercy in Kips Bay. The project, also known as Carmel Place, is the product of a city-sponsored design competition launched by former mayor Michael Bloomberg in 2012 as a way to test out if micro dwellings could be an answer to the city’s housing shortage, and in turn give enough reason for adjusting NY’s dated building codes to allow for smaller units better suited for today’s shrinking households. As it stands, the legal minimum is 400 square feet, while My Micro NY’s apartments measure a mere 260 to 360 square feet.