All renderings courtesy of Conway and Partners, unless otherwise noted

A big new residential development on the Lower East Side is going small. When it opens this spring, the 30-story 55 Suffolk Street will offer three floors of “micro-units,” apartments that measure between 315 and 350 square feet and feature space-saving built-in furniture and storage. Developed by the Gotham Organization, the building, dubbed The Suffolk, includes 378 total residences, indoor and outdoor amenities, and a new home for the Chinese-American Planning Council. This week, the building released a teaser site and 6sqft got a first look at the unique new development.

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All photos courtesy of Al Siedman/VHT for The Corcoran Group

Here’s an opportunity to rent the West Village townhouse once home to Taylor Swift. Located at 23 Cornelia Street, the home was the subject of “Cornelia Street,” a song on the pop star’s seventh studio album Lover that references the iconic carriage house she rented in 2016. Currently listed for $45,000/month, the 21-foot-wide property has four bedrooms, an indoor pool, and a garage.

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Photo credit: Rachel Kuzma/REPN for Corcoran

A quirky converted warehouse loft in East Williamsburg has hit the rental market for $35,000/month, a new record for the neighborhood. Since 2018, the property has been home to Casa Powers, a bohemian-chic community event venue created by brother and sister duo Sydney and Cole Blumstein, who are real estate agents with Corcoran. Located at 139 Powers Street, the home–which measures over 4,200 square feet, boasts 15-foot ceilings, and has several skylights–comes rented with all its funky furnishings.

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All photos courtesy of Nina Poon/MW Studio for the Corcoran Group

Famed director Baz Luhrmann’s Gramercy Park townhouse could be yours to rent for $75,000/month. Located at 243 East 17th Street, the six-bedroom home spans five stories and overlooks Stuyvesant Square Park. The extravagant townhouse is also available for purchase. Luhrmann and his wife Catherine Martin first listed the home for $19,995,000 in March but later dropped the price to $18,999,500, as first spotted by the New York Post.

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Renderings courtesy of Pax Brooklyn; Photos courtesy of QuallsBenson, unless otherwise noted

Leasing launched this week at a new mixed-income rental building that is part of the redeveloped Bedford Union Armory complex in Crown Heights. Located at 1101 President Street, The Arch rises 16 stories, contains 355 rental units, and offers residents amenities like a furnished rooftop, indoor-outdoor gym, and a work-from-home business center. The more than 160 market-rate apartments start at $2,875/month for a studio, $3,212/month for a one-bedroom, $4,514/month for a two-bedroom, and $5,675/month for a three-bedroom, according to the building’s website.

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All renderings courtesy of VUW Studio

At a time when finding an affordable apartment in New York City feels impossible, here’s an opportunity to live in a luxury Long Island City building for less. A housing lottery has launched at Gotham Point, a two-tower mixed-use development in Hunter’s Point South with 1,132 apartments, a majority of which are priced below the market rate. After welcoming its first residents to the South tower this spring, the taller North tower is now accepting applications for 463 rent-stabilized rentals at 1-15 57th Avenue, Long Island City, NY. The 58-story building is open to New Yorkers earning between 30 percent and 165 percent of the area median income (AMI), or between $16,183 and $273,075 annually.*

Find out if you qualify

Rendering: Binyan Studio

A new three-building development in Astoria with hundreds of apartments officially launched leasing on Tuesday. Developed by Cape Advisors, Astoria West, located at 30-77 Vernon Boulevard faces the tiny urban “beach” Hallet’s Cove and contains 534 rentals and more than 40,000 square feet of amenities. Available units range from studios to two bedrooms, priced from $2,920/month.

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All renderings courtesy of Kushner unless otherwise noted

Construction is finally underway at Kushner’s huge One Journal Square project in Jersey City. The nearly $1 billion mixed-use development consists of two 710-foot-tall towers with more than 1,700 rentals and 45,000 square feet of amenities and public space, including a new Target location as its anchor tenant. The developer was joined by Jersey City Mayor Steven Fulop during a groundbreaking ceremony at the Journal Square site on Thursday.

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The construction site in June 2022 © Ondel Hylton

Construction has officially begun on yet another new residential skyscraper in Downtown Brooklyn. Located at 589 Fulton Street, The Brook is a 600-foot-tall luxury rental with 591 apartments and 30,000 square feet of indoor and outdoor amenities. Developed by Witkoff and Apollo and designed by Beyer Blinder Belle, the building broke ground just days before the 421-a tax abatement program expired, allowing developers to still cash in on the 35-year tax break.

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Photo by Dimitry Anikin on Unsplash

According to the May 2022 Elliman Report for Manhattan, prepared by appraiser Miller Samuel Inc. for brokerage Douglas Elliman, median rent arrived at the $4,000/month mark for the first time ever, with average rent hitting just under $5,000/month. May 2021 median and average monthly rents were $3,195 and $4,078, a 25.2 percent and 22 percent jump, respectively.

Rising rents, shrinking inventory, this way