New York–TF Cornerstone has opened 505W37, a rental project in Manhattan’s Hudson Yards neighborhood. The new development features 835 apartments, sized from studios to two bedrooms in two glass towers, and designed by Handel Architects.
Located on 10th Avenue and 37th Street, 505W37 is located near local parks such as Bryant, DeWitt Clinton and the Hudson River Park, as well as familiar New York destinations such as Chelsea Pier, Rockefeller Center and the Javits Center.
The neighborhood around 505W37 is enjoying a residential renaissance, according to Eric Michael Anton, executive managing director of real estate investment services firm Eastern Consolidated, which has done a lot of work in the area.
Just north of 505W37, The Related Cos. is building a million-square-foot rental apartment complex, while Glenwood recently opened its 568-unit Emerald Green, at 38th Street between 8th and 9th Avenues. And on 11th Avenue, between 41st and 42nd St. is the luxury rental complex Silver Towers.
Anton cites two major reasons for the residential boom. In contrast to Manhattan’s East Side, there is still a good deal of developable land on the Far West Side. And, in the 1990’s, a good deal of office space was developed on the West Side, particularly on 6th, 7th and 8th Avenues.
“If you have to commute to these offices from the Upper East Side, that can be a hassle,” Anton says.
The apartments at 505W37 feature hardwood floors, high ceilings, kitchens with high-gloss white cabinetry, granite countertops, and stainless steel appliances. Monthly rental rates range from $1,821 for a studio, $2,533 for a one bedroom, and $3,706 for a two-bedroom.
Amenities include a Wi-Fi enabled clubroom with a café and TV lounge; a catering kitchen; a 2,000-square-foot fitness center with low impact flooring; card operated laundry; 24 hour attended lobby; and Web-enabled concierge and valet services.
TF Cornerstone is a real estate acquisition, development and management firm with residential, commercial and retail properties in New York and Washington, D.C. The firm opened another residential building in the area, 455W37, which is now 100 percent leased.