Luxe Life: New York City’s Newest Luxury Rental Buildings

City Tower Render
NY Observer
08/06/2015

City Tower is featured in the New York Observer’s round-up of top luxury rental properties in New York City as a key Downtown Brooklyn property offering a range of notable amenities.

With their emphasis on posh amenities, new rental buildings appeal to those who want to live la dolce vita—but maybe not for the long term.

At one point awhile back, rental buildings were easy to distinguish from co-ops and condos—a little bit less well cared for, perhaps, older, devoid of many conveniences. But that’s all changed in the past decade. Now rental buildings boast a laundry list of amenities as a way of commanding a premium.

“There is a certain expectation now with amenity space. It’s not so much as they require it, but it’s kind of automatically assumed that it exists,” says Scott Kochman, an agent with the Level Group. “Roof decks and gyms are considered standard now. And lounges and child playrooms are an added bonus.”

For many, renting is the best compromise: it’s affordable in the short term—no large down payment necessary—yet provides flexibility and a high standard of living. “Although they aren’t building anything in terms of equity for the future, they are living the N.Y. dream one month at a time,” noted Mr. Kochman.

Featured Property

City Tower
10 City Point

Downtown Brooklyn’s new City Point development is getting its first high-rise, with the 48-story City Tower’s expected completion this fall. The building has 440 apartments, a mix of studio, one-, and two-bedroom units, as part of City Point’s “luxury community,” a new mixed-use development with boutiques, dining, and a movie theater as well as residences.

Amenities: Fitness center, basketball court, resident lounge, and terraces on the 6th and 30th floors.
Rent: $2,450 (studio) to $4,500 (two-bedroom)

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