Development of Upscale Apartment Project Atop Manhattan Hotel Reaches Completion
- Aug 25, 2010
New York–Beatrice, a new luxury apartment development in New York City, is ready for its close up now that JD Carlisle Development Corp. has completed the project, which sits atop the new Eventi Hotel in a 54-story glass high-rise designed by Perkins Eastman Architects.
Beatrice occupies the top 30 floors of the tower at 105 West 29th St. in Manhattan’s Chelsea neighborhood. With rents ranging from a monthly $2,700 to over $20,000, the property offers studios and one- and two-bedroom apartments, as well as a select number of three-bedroom penthouses. A bevy of extras most frequently seen in upscale condominium properties comes with the package. The list of amenities includes a 6,300-square-foot space with a lounge and terrace, a fitness center, a yoga studio and an onsite parking facility.
Condo-hotels were all the rage before the implosion of the commercial real estate market, but the apartment-condo combination that Beatrice offers is a rarity. “It’s not out of the ordinary to have residences on top of a hotel, but typically, when it’s done it’s done as condominiums, not apartments,” Clifford Finn, managing director of new development marketing for Citi Habitats Marketing Group, tells MHN. Citi Habitats is the exclusive marketing and leasing agent for Beatrice. “In the very early stages, there were talks of Beatrice being a condominium project, but it was built as a rental.”
Initial occupancy at Beatrice is scheduled for as early as mid-September. The property’s onsite leasing office, which opened in July, has been more than a little busy. “We’ve been leasing for three weeks and we’ve rented just over 60 apartments, so there is very high demand,” Finn says.
In general, Manhattan’s rental apartment market is in recovery mode. “New York City is on the rise,” Finn says. “The high-end rental market is very health right now.”