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Silver Towers
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1359 units in the middle of nowhere. Anyone hear what the asking rents are going to be? How the hell are they going to rent out that amount of housing stock? It's not much less in number of units than the Sixth Avenue corridor combined (77 West 24th - 300; 55 West 25th - 406; 55 West 26th - 387; 777 Sixth - 294; 800 Sixth - 269)

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These are a Silverstein development, no? I swear that man has lost his mind.

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And that subway station is coming ANY DAY NOW........... (and it'still the 7 train)

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"Aren't there a couple of more huge development projects in the Javitts area that are supposed to open as rentals soon?"

I know there's 455 and 505 West 37th St

Those towers make that neighborhood look so much better...I couldn't care less if 75% of it sits unoccupied.

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388 units.

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I was in this building last week. It is really nice. But way too expensive.
For what they ask here (even after the incentive) you can live in a similar place closer to the real world. The floor plans are indeed kinda cramped. I currently have a living room the size of their full 1 bedroom apartment. They by the way have normal one bedrooms and studio's but on the penthouse floors.

Gosh, don't get me going on my rant on Hell's Kitchen buildings put up in the last 5 years that have cramped floorplans. As a longtime broker told me, the reason that people would consider being so far west (and so far away from the subway) was that you'd at least get good space. But these newer buildings have just missed the boat on that one.

anotherguy - completely agree.

remember when living next to port authority, or in times square, or in the middle of the theater district was undesirable?

news flash - it still is.

so no matter how snazzy a name you give your building, when prices finally come down to earth (which has only begun to happen), these will be hit hard.

Yeah and Atelier across the street is even more cramped, rental capacity (even though its a condo). Not to mention the Rockrose buildings going up on 10th and 38th. Greedy greedy developers.

ILoveMuayThai said:

"remember when living next to port authority, or in times square, or in the middle of the theater district was undesirable?

news flash - it still is."

Thanks ILove... I got a good laugh out of that one.

Honestly, I know that the longer I've lived in New York, the more selective I've gotten about acquiring new possessions, so that now I manage to live in less space than I ever imagined before I got here. And I'm sure many people go through that adjustment process.

But, come on - - how many people are truly so space-insensitive that they're willing to put up with the sizes typical of units on the small end of what's currently being built? Now, there definitely are a few people like that out there, but if you were one of those people, just think how many dozens (if not hundreds) of units are out there waiting for you, especially in fringe areas like Hell's Kitchen? And how low will the most desperate developer have to cut the rent in order to snag a person to actually choose their (tiny) unit?

I honestly don't think that some of the small 1BRs out there will stay above $2,000 come the winter. (Oh, right, sorry - - we can't say $2,000 list price. Make that "$3000/month with 6 months free"!)

I was just over there yesterday. It is quite the hike. Phew...

so the question is how low will they have to go to fill up 1100 units in the middle of nowhere? Building has very nice finishes and amenities but are small. If they want to fill it up I am guessing 1500 studio's and 1900 one beds. When will construction be done 100% and when do people start moving in?

Wow - despite me being the one that started talking about "how low will they have to go" to fill the place, I still find the idea of $1500 studios and $1900 one beds in a brand-new building pretty astonishing.

That being said, my next thought is "what will that do to the pricing of all the nearby high rise buildings?" A lot of those buildings are holding very firm with $2500-$3000+ asking prices for their 1BRs. How low will they have to cut? Granted, the oldest buildings can point to significantly larger floorplans, but from what I've seen of them, some of them will soon need to spend money to upgrade slightly ratty lobbies, hallways and common areas.

But, I guess that's not new. How many buildings have we all seen where the lobby has been renovated to look new, but where the hallways and units themselves are still stuck in the Stone Age?

I don't get your peoples point...

A true 2br starting at 3900 in a brand new building with those kind of ameneties?? That's awsome! I don't think there is any building in NYC that offers this.
And as far as the location goes the subway is a little off but I just thought about my fathers apartment on 82nd between 1st and york and my long ass commute to he subway... That's even further away...
Sure you don't have that many restaurants and bars but then again the price of the apt. trumps that ;)
I'm seriously considering to move there.

anotherguy how else are they going to fill up such a huge building? They are going to have to give some crazy deals so that people will move here instead of LIC. They just need to fill it up for now and they can always raise the prices as stuff gets better. They did it with One river place when it opened. What they cant do is have one beds prices at 3000 and have the building half empty for 3 years. The banks wont have that

a 2br at 3900 is still ridiculous IMO. 3k tops

show me a true 2 br with these kind of amenities....

samadams has a good point. I guess it's better living over there than moving to Long Island City or Williamsburg...

It depends on what you're calling a "true" two bedroom. What good is a bedroom that's the size of a closet? At the end of the day, all it does is increase your rent.

FYI - Amenities (i.e. gym, lounge, etc.) in the building costs $800/yr. I was a the building last Sunday.

how about services around the building. e.g how far is the nearest Grocery store, etc. Doesnt seem like a very residential area with all the nearby traffic.

Sirius: Here's a comparable unit in the ballpark for you. Hudson Yards, brand new building, AND a whole avenue block closer to the subway (it's on 10th avenue vs 11th avenue for Silver Towers). Rent: $3,940.

http://www.nybits.com/apartmentlistings/c2911688e8a0fcaebbe843308f098379.html

Also consider Archstone Clinton, a year-old building. Their asking rents are in the low $4000s, but last I checked they were offering around 2-3 months free rent:

http://www.nybits.com/apartmentlistings/eafbd27bf67813eaf2a881a361aa685b.html

Midwest Court, a much older building (maybe late 1980s), but also another block closer (between 9th and 10th Aves), with larger room sizes. (I can try to dig up floor plans if you like, but don't have time right now - - rest assured, the units built in that era are generally larger.) Rent: $3,775.

http://www.nybits.com/apartmentlistings/e904e4211f82579fc5677b85ad53583c.html

I'm not saying that Silver Towers won't be a nicer building, but it has to compensate for the extra walk further from the subways, restaurants, etc.

wc003 are they charging extra to use the buildings facilities? The only good thing about this building other then the finishes is the facilities. LIC and Williamsburgh have a much better chance then this. There is no neighborhood here nothing within 10 blocks other the times square if that is where you want to hang

How much are the studios in this building?

It appears the cheapest studio come in around 1800 after the two free months on a 14 month lease nonsense. Good thing Silverstein cleaned up at One Riverplace, he is gonna take a bath on this.

I looked for fun. places are small, finishes are nice, building is nice. The biggest downer is that the building overlooks are a bus depot. Prices are too high, and I dont think they have any chance of filling up and I think they know it. I think the 1 bed I looked at was worth 2000ish

I don't know anything about Silver Towers, but I once stayed at Fawlty Towers (manager: one Basil Fawlty). Anyone else stay there?

Why are these prices so high? I wonder when they'll drop the rents in this building...and maybe they will fill it up.

its going to be a ghost town

I bet they're counting on setting up a lot of corporate apartments to take advantage of the close location to the Javits Center.

I disagree with many of the comments and actually just rented there. While the the apartment is not large by any means, for me it was the finishing details, marble bath with a floor to ceiling window, lots of windows throughout, 9' ceilings, a dishwasher, a lot of cabinet space in the kitchen, a dog run, etc. Yeah, it would have been nice on one hand to be closer to the subway but my office is not far and I would prefer to be closer the river and running paths than the other direction. The net effective rent turned out to be $3000/mo for a 1 bedroom which isn't that much compared to other places I have rented (Related buildings, The Marc, etc.). There is also a dog run for my dogs which is a lot easier than trying to walk them in the street at the curb. So, each to their own, which is why there is variety, right? I also can use the exercise and can handle walking 3 avenues and when I don't feel like it, the building has a shuttle along 42nd St and there are taxis. So for me it works and it seems to for quite a few others also- the three times I stopped to look or when I went to sign the lease, there were always a couple other people signing as well, although it will probably take a long time to fill both towers considering the economy.

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LOL, actually I am in great shape- walking helps with that, as does running along the river, etc. daily. And like I said, I can walk, or cab, or take the shuttle, or my car service as I prefer, so three avenues isn't exactly Riverdale. And the $500 is well worth it to me for the amenities noted and it ends up being $1000 a month less than my 1 bedroom in the Marc was, so is seeming pretty inexpensive . If the location or bldg. not attractive to you or someone else, that's fine, lots of places in the city for everyone to choose that makes each of us happy, right? It would be a pretty dull place if we all liked the same things and same places.

cdd the building look over a bus depot.

cddouglas: At your price point ($3,000 effective rent), is it safe to assume your unit includes a great view, possibly on a high floor? If so, how much of a premium was such a unit vs the many not-so-great view units that there must be there?

My theory is that the upward skew in price for the rare features (here, a good view) has remained somewhat intact, despite the recession, while the middling units are the ones suffering the downward price pressure.

Also, how are the closets (given that the unit is not large, as you note)?

Thanks!

@samadams- I looked at many floors and apartments and the only ones that look at the bus depot are in the south tower facing south from about the 3rd floor to around 8-10- above that or from another angle, the views are spectacular. Any other new high rise I looked at (or have lived in) more centrally located, are at least $1,000 more or higher for about the same size apt.

@anotherguy- yes I am on a high floor, but the premium is not much, about $10 or less per floor. As noted above, most of the apartments have good views- a majority view the Hudson (northward or southward), the east/south east side has spectacular views of the Empire State Building and the city toward Times Sq, and the north tower looks over the river, up toward the park and into midtown. The units that look into the bus depot are not bad, it is a pretty blank view at worst, although not one I would choose (because I like views), although the floor plans in that section are somehwat unique.

I would guess that the building is able to charge a premium for very high floors (not open yet) and its possible there might be an ability to negotiate on poorer views, although I think those units were priced accordingly already. Some units had minimal (tiny) closet space, a couple of the one bedrooms have pretty generous closets (I have two three door closets and one double door, in addition to a closet that a Bosch washer/dryer and some shelves are in.

Honestly, while the location may not be for everyone, the rent vs. distance from the subway vs. amenities vs. price worked for me. Having lived in many other states and cities, to me, New York housing is about trade offs (unless you are so wealthy that you can afford any price)- you can have space, location, amenities, or price, but generally not all of them at the same time, so choosing what is important to you individually seems to be the best approach, which was my point earlier. Not everyone will love the location, but I hate shared laundry rooms or not having a dishwasher as examples, more than walking, so this met my requirements.

Thank you

CDD are they renting them?

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lol

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cddouglas: Ah...I think I get it.

Do all apts offer W/D in units? Another development with a price that has held up better than I thought is Archstone Clinton, and they offer W/D in every unit also. I've been surprised that this has been apparently worth a premium to so many people, but it seems to help differentiate buildings a bit.

I wouldn't be surprised if soon these start being standard in the design of new construction rental buildings.

When I was there USD 3000 (net effective) gave me a view of the bus depot from the 16th in a 1-bed the size of a regular studio.
Ok it's new and for some people in a unique location. But given the current market defenitely overpriced to me.
For that money you can rent a 50% larger place in the lets say The Corinthian on the 30-40th floor. Also close to a river walk with similar city views & amenities.

micro I saw the same thing when I looked(bus depot views). I love silverstein and all for thinking big but I just dont trust him that they rented 30 percent out. Maybe if he is including the 20 percent of affordable units.

It's maybe 30% of the available units. They slow down availability to prevent oversupply. Has anyone so far seen a 1-bed on a floor higher then the 40th floor? How much is it there? If they price that at USD 3000 it starts to look like a more reasonable deal.

studios for $2,300!!?!!!!!!!!!!!!That's what I see.

Isnt that a bit overpriced?

Silver Towers is offering 2 months free rent, apparently:

http://www.nestseekers.com/21069/2_MONTHS_FREE_RENT_PLUS_NO_BROKER_FEE_AT_SILVER_TOWERS

The listing shows that asking prices are still high for the area: Studios starting at $2320, 1BR’s starting at $3360, 2BR’s starting at $4765. But as somebody mentioned above, units all do seem to have washer/dryer, which is worth a little bit more (but probaly not as much as they're asking).

Now that it's getting colder, what type of heating system do the units have?

to micozacht and others:

Saw a unit here yesterday with a friend. The 1 bedrooms on high floors are priced VERY high (at least the livable ones, size wise)

The unit we saw was the largest 1 bedroom in the development - this was the K-line in the South building, 48th floor. 23 by 13 living room with open L-shaped kitchen, and 14 by 12 bedroom. Living Room and Bedroom both had wrap-around, floor to ceiling windows. Exposures were south and east, so you could see the ESB as you walked in, as well as all the way down to FiDi, the statue of liberty, and the Hudson - some of the best views I've ever seen, only rivaled by Sky House and One Madison Park. Bathroom also had a nice floor to ceiling window. Apt had 3 closets and w/d. The ceiling was also 9.5 ft.

48K was priced at $4300, with 2 months free on a 14 month lease, so about $3700 net effective... (about equivalent to lux buildings in the 6 ave corridor of chelsea)

There was also a less impressive unit (view-wise), but about the same square footage. This was 38A (still south building), north-west exposure, $3950 base, and $3380 after concession.

The leasing agent claimed the building was 40% leased. The amenities are also $750 per person, per yr.

I'm the type of person who could deal with the location for the quality and views, but that notion would break down after floor 30, where the prices become a bit too unreasonable.

Let me know if you guys have any other questions.

3700 to live in a 1 bed in this area seems too crazy to me but if they are getting it good for them. I wonder where all these new renters came from who have taken places here? Did you get the feeling like it was 40 percent rented , is the building done?

It is a nice building, but yes it is very expensive and it's not close to anything unless you really dig bowling (Lucky Strike).

The courtyard, entrance and amenities seemed completed. Some floors still had construction materials on the ground - It looks like it will be completely finished in a few months.

I did not get the sense that it was 40% leased. Only saw one resident during the tour of the buildings (but this was at 2 PM on a Wednesday).

I went by there at night in a cab a couple weeks ago. Maybe 10 lights on. 40%? No frickin way.

I've lived at Silver Towers for the past 8 months and they charge for all the amenities. And they lied to most of us when we first moved in here and claimed that the outdoor space was "included". It's not. You have to join the gym for $750. to access it AND they are charging us $15 a head to bring guests! Let the buyer beware!

Hi Tiffany Finally someone who can help me because you actually live in the bldg. There is another talk with my questions on another page. Don't know why they are not combined. Anyway, before i look at apartments there can you tell me 1. How are the services(heat,a/c, cleanliness)? 2. Do they repair quickly upon request? 3. Besides pricing of amenities, are there any other quirks or problems? Noise issues? Thank you.

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Having lived here for about a year, here is what I have to say:
Stay away from this Silver Towers property, it's not worth the money. Here are some reasons why:
1. Management--headed by the biggest rude and inconsiderate bitch I've ever had the horror to deal with. She is downright nasty and disgusting. Poker-faced asshole--best description I have for her.
2. This (#1) sets the tone for the rest of the management. There is not one person that I've talked to here that is happy with the management staff. They are dismissive and unresponsive. All the time!
3. The building is constructed cheaply and poorly. We've had cabinets fall. They just recently replaced faulty tub knobs.
4. While the amenities are great, they charge for them. It's not much ($750/person) as compared to other gyms. However, the amenities were NOT available to people who moved last year because they were NOT ready.
5. There are hidden charges. The joke among the tenants here is that management is soon going to start charging us for breathing air in the building. There is a fee (which changes depending pm how they feel) for use of the terrace for additional guests. There is a grill on the terrace for which you pay $50 for use.
6. Oh and here are a few design flaws: 1. Kitchens have NO drawers (not even for utensils). 2. Cabinets fall down. 3. Bathrooms have no ventilation. 4. ACs blow cold air when you're trying to put on the heat. 5. Windows have writings on them (they are going to remove the writing one day!).
7. They've cleaned our windows (one side) once in the last year.
8. They shot down ACs in the elevators and floors--I persume to save money. Although, they say it's being fixed. For 9 months--they can't get the AC working within the property!
Only nice thing is the people who work for minimum wage here (doormen, maintenance and cleaning) are nice. But, it's absolutely disgusting seeing how management treats them!

FOR THE AMOUNT OF THE MONEY YOU PAY TO LIVE HERE--THIS PLACE IS A JOKE. Stay away!!

I've been reading the posts and I have no doubts the few positive comments about this property are posted by the management. Laughable.

Current resident of 10 months in the North building facing east. Having lived in Archstone clinton also facing esst for 2 years before I moved here due to prices. My rent the first year at Archston was $2550 (net effect) for an alcove studio and $2950 when I moved out. Archstone provided 2 months free(new building discount) on a 12 month lease my first year compared to 2 months free (new building discount) on a 14 month lease at Silver tower. My current alcove studio is $2400 (net effect). At Archstone there was no first months deposit and no security deposit so I moved in rent free for 2 months without having paid anything. Silver towers requires a security deposit and your first month rent.

Archstone - gym included (top floor), gym is 24 hours, no pool, rooftop common area is 24 hours, rooftop indoors lounge is 24hours, and the poker room (library) also 24 hours. Front desk and elevators fully air conditioned and very cold during the summer. No door man (they will almost never help you with the door), and 24 hour front desk (i caught him sleeping in his chair serveral late nights). Rent is paid by credit card( CC miles ) Laundry on each floor. Low income apts mingled within each floor with full rentals.

Silver Towers - Gym $750 per person, open morning til 10pm, biggest pool in any rental with steam room(in locker room) and sauna(coed). All common areas locked at 10pm. 8th floor rooftop outside lounge closed at 10pm. Indoor 7th floor common areas closed at 10pm, this area is along hallways. No poker room, but there is a bbq. Front desk not fully air conditioned, and elevators are very hot in the summer. Door man will sometiems open the door for you (depends on who's at the door and what time). 24 hour front desk (there are no seats so you can't sleep). Rent is paid by check. Laundry is in all units. Low income apts are in the 2-7 floors seperate entrance on 41st street you will never see them. $6/hour $50/daily - rent a mercedes using connectbyhertz ( it is never aviable as there are only 2 cars and always booked).

I hope this helps you understand the differences. I was really unhappy with Archstone before I left as they wanted $2790 to redo my lease. I thought that was silly so I moved to the Silver towers. I have always had an amazing view of the Empire state building but the view from Archstore was better as there are literlly no other tall buildings infront of you for 2 blocks. I miss the very high rooftop lounge which I had many nights drinking and relaxing with my friends. Everything is always open and 10pm is just too early for all of these things to close at Silver Towers. Having laundry in your unit is so something I think I require now even if it is on all floors. 10th ave vrs 11th ave is not too bad due to shuttle, frequent buses, plenty of cabs, and really the walk to port authority is not an issue. If you have lived a block away from the subway this will hurt you. If you are used to being faurther away you won't notice. Shuttle is quick in the morning going east. Buses are quick going west when you go home.

That being said. Ultimately the question is am I staying when my lease is up in November?

No

Unless that is they offer me like $2300 for my rent. The $750 for the common area access isn't a problem but the limited hours combined, makes me feel really unhappy about it. The pool is nice but again the limited hours issue is too big. Also since I do enjoy walking the 3.5 blocks I'm alway sweaty when I get home. The front desk and elevators not having aircondition is pretty brutal. I'm sure they will fix that but again doesn't that make you sad?

Thinking of moving to the OHM.
http://theohmnyc.aitrk.com/theohmnyc/
The Alcove studio M unit looks great although I require an Empire state building view facing east.
I see that it is renting for $2500.
Archstone - gym included (top floor), gym is 24 hours, no pool, rooftop common area is 24 hours, rooftop indoors lounge is 24hours, and the poker room (library) also 24 hours. Front desk and elevators fully air conditioned and very cold during the summer. No door man (they will almost never help you with the door), and 24 hour front desk (i caught him sleeping in his chair serveral late nights). Rent is paid by credit card( CC miles ) Laundry on each floor. Low income apts mingled within each floor with full rentals.

Silver Towers - Gym $750 per person, open morning til 10pm, biggest pool in any rental. All common areas locked at 10pm. 8th floor rooftop outside lounge closed at 10pm. Indoor 7th floor common areas closed at 10pm.

Just looked at a 57th. floor one bedroom apartment @ $5070. Spectacular views, amazing bathroom (windowed shower, double vanity), nice enough space (about 800 ft.), but, what do you do way over there? Sit in the lounge with friends who live in the l-shaped studios?? Certainly plenty of nice 5 grand one bedroom apartments around in better locations, no?

$5070 for a one bedroom? You have to be kidding?! We currently live in Northern Battery Park (North End Ave) and love it. We really want more space, though. Does anyone know what a lower floor 2 bed is going for? We will visit this and a few other properties and report back.

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Saw these apartments yesterday. OMG!! The agent actually told me to think of the entire building as my home, not just the apartment. Maybe that's because the 2 Bed @ bath in the "Sky Tower" is going for $6,500/month with 3 months free on an 18 month lease. The apartment, while beautiful, was so small that I couldn't even put a king bed in a master bedroom. Oh yes, you have no access to any amenities without the additional $750/year club fee, and only then are the amenities available during certain hours. An entire olympic size pool, totally unused at 4PM, because they don't want to pay a full time lifeguard and are terrified of lawsuits without one. Skip this overpriced piece of pretentious crap, if you want this lifestyle at these prices, just check into the 4 Seasons and sell whatever furniture you own as it will not fit into an apartment at Silver Towers!

What are renewal prices looking like here for leases coming due soon?

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(Bump)

Any recent thoughts?

low income housing in that building.. your guests may think wtf while waiting in lobby watching gully-types go in n out.

aptratings reviews not too good, but you always get a mixed bag with huge rentals places..

best bet is find a small condo building with an owner renting out.

Forget about that Silverstein trap- he's offering nothing, cheapskate to make you pay for the gym when you are paying rent.
i have a split 2br 2 bath marble bath, double MBR closets avail just across the street- the building is maintained beautifully- no charge for the pool, gym or wireless access roof terrace or barbecue (charging for that is just ridiculous). Its got everything including a tennis court. $5800- high end furnished (no junk, leather, real wood furniture, dishes, barware, towels sheets etc) a bit over a thousand sq ft. I lived in it for a year and I thought it was a great size- the view is to die for, corner high floor with unobstructed east views of the whole city and river etc. if you know anyone interested I'll pay the fee. I hate all the rental agents in my building and won't use them. they are all huge bait and switch sleazebags that use SE as their own personal website. a real human doesn't have a chance.
columbiacoaching@gmail.com

Yes, you have to pay $750 just to use the common areas. Oh, but it gets better: you have to pay to use the barbeque and you have to pay for each guest you bring. So, you want to have your best friend hang out with you on the terrace (which isn't rooftop like they advertise - its on the 7th floor!), get ready to pay for your friend. Lose your key? Fork over $75 for an additional one. And don't get me started on management - Caroline Tejada and Lisa will treat you like a burden - and that's IF you can find them or contact them since they are known to delete emails from tenants. Don't believe me? Ask about turnover at Silver Towers. It's got extremely high turnover of both tenants AND staff who cannot stand how dysfunctional the management is. My advice is to save your money and go somewhere else.. there are plenty of new buildings along 42nd/in Midtown West that offer the same features you will not be paying for them out of pocket each time you want to use them. Oh, and the units are TINY compared to comparable buildings!

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