Building at 1481 Fifth Avenue

Look at 1255 Fifth Ave

This building is segregated from the condos at 1485 Fifth Avenue. This is actually a wing of the same building, but the rental wing has none of the amenities of 'Fifth on the Park,' such as gym and attended lobby. The segregation is especially offensive, given that with no lobby attendant there is always the possibility of trespassers wandering through the building, harassing residents (as occurred on April 13, 2013). The rent is supposedly 'below market,' with the stated rent for my 2 bedroom unit being $6,000.00 (I pay $2800). However, anyone who knows the current neighborhood knows that nobody is going to pay $6000 for a 2 bedroom rental. So not to totally slam the building, the units are very nice with central air, great views, marble bathrooms. It is just unfortunate that the developer chose to segregate the rental units from the condos as he did.

1481 has a lobby attendant now. The rent is below market and the building is rent-stabilized, meaning that it is subject to little or no rent increase when a tenant renews their lease.