The Corner

It appears to be some sort of delay or something; maybe with construction permits or violations. The leasing office does not have any usefull infoormation and are not taking applications. Is there any affordable housing in this place?

The paper had one of those 30-minute interviews with the developer a week or so ago. Said they'll start renting in March. A P.C. Richard truck was delivering refrigerators the other morning.

This should change the picture on the UWS. Most of the big rental buildings like Related and such are in the 90s. Or, are out of the way like Sessanta (which I saw and thought was nice but way out of the way). This is a good location, might cause some of the older buildings to have to step up their game and renovate.

The plans have just been filed with the city: http://a836-acris.nyc.gov/Scripts/DocSearch.dll/Detail?Doc_ID=2010022200047002

Pretty standard, but some interesting layouts on the upper floors of the southeast corner, where it's cantilevered over part of the building next door.

website is now up and running...http://www.200west72.com/. Look to be some incredible views (and the roof deck looks amazing). Based on how they describe things, will probably be extremely on the high end for area rentals...

There're 197 apartments, one of which is for the super. Bedroom/bath breakdown is:

0/1: 53 (lower floors in the back)
1/1: 103
2/2: 32
3/1: 9 (three of those are convertible 2/2s)

Mostly small square rooms, except for the wheelchair-access baths. The lounge, gym, and kid's room are at the back of the third floor, and take the space that would've gone for three studios and half a one-bedroom.

Oops, the three-bedrooms all have two baths.

Interesting entrant will depress some of the UWS better quality prices, along with the Aire that someone else mentioned. Just in time for busier summer season.

Past couple years were more about new supply downtown.

Anyone have any idea about rent rates yet?

Loud area. Buses beeping and cars hoking.

I emailed yesterday to find out more - got a standard response to say the Grand Opening is on Monday March 15th and that a leasing rep would be in touch. No contact as yet - and no info on prices. Anyone else heard anything?

ootin is correct: one of the loudest street corners in Manhattan. Happy honking, renters!!

The name cracks me up because The Corner by David Simon was an excellent book which followed the denizens and activities of one of the most notorious drug corners in Baltimore over a year-long period. It was made into a mini-series on HBO (directed by Charles S Dutton) which sometimes available on PPV). Naming a luxury building The Corner just doesn't seem right.

Then again if you go back about 40 years, given the location of 72nd & Broadway, maybe its perfect.

I dunno, I got the image of a faux taqueria on one side with a little cafe restaurant on another and an undeground cool grotto restaurant through a kitchen down the stairs behind a door marked "Employees Only" in the taqueria. You know, something like this:

http://www.esquinanyc.com/index.php

"one of the loudest street corners in Manhattan"

One of the loudest? You apparently don't get out much. It's certainly loud, but hardly one of the loudest.

Still trying to get pricing. Spoke to leasing manager yesterday and she said that prices will not be announced until Monday. Also trying to get in for a preview to post to my blog (afineblog.com).

keep us posted. Is the trader joe's confirmed?

How much do you all think these apartments are worth? When I spoke to someone in the leasing team she seeme dto suggest that 1 beds would be in the $4500-5000 range which sounds ridiculous

So they had the grand opening but still haven't announced any prices????

Monday March 15th their big day. This project is designed by two of the best Handel Arch. and Interiors:
Andr�s Escobar. Not crazy about the name but a beautiful building.

Their big opening day. The website is up. But they don't have anyone on the phones so you can't find out prices. They invite you to fill out a form. As a potential and very interested renter, I filled out that form and left messages at the development office countless times. No one ever got back to me. I called the President's office and was finally referred to someone. When I finally reached her -- she was on vacation a month before their supposed launch-- she had zero information. Which probably explained why she never returned my phone calls. This company has zero marketing skills. Makes you wonder how they are going to serve their tenants when they can't even serve their own best interests.

I filled out the online form yesterday, and was called by a representative within hours. When I asked what the price of 2BR apts. were, she said,"Around $8,000." Availability would be April 1.

the lights are on. I walked down 72nd this evening and there were lights left on in many of the apartments that front on Broadway. You could see the kitchens.

Has anyone been inside yet?

Visited today, wonderful staff of personel, very good quality finished product.

Does anyone know the rates?

Visited- place is nice (though not my style). 3 bed is between 17-18k (!!).
Good luck to them. The broker babble did sicken me greatly.

17-18k? Wow are you kidding? What is the square footage?

1600(ish). Not kidding. and that's not for the one with the balcony. Great views of Grey's Papaya though... and there's a Mcdonald's close by.

$8000 for two bedrooms is too high. There is better product in the neighborhood for significantly less.

apt23, can you recommend any buildings that would offer comparable apartments at better prices? Thanks!

Well, they are selling the "new" factor. And it's pretty dang close to the subway. I like the location, but still... gonna check it out. But they haven't gotten back to me yet.

mit: for example, at The Harrison, there were two 2 bedrooms listed for $7000 plus offering a free month. They are still listed on SE but I'm not sure they are still available because sometimes the brokers don't update. The apts come with 2 free gym memberships at the new Equinox in the building. Haven't seen the gym at The Corner but am fairly sure it won't compare to this new gym. Plus both apts have been on the market for months so I'm sure they are negotiable -- I bet you could get net effective in low 6's.

Or for $12K there's the nicer one at the Harrison, with terraces: http://streeteasy.com/nyc/rental/592407-condo-205-west-76th-street-upper-west-side-new-york

The owners have been trying to rent it out since they bought it for $2.9M in October.

Is the price history on the Harrison unit right? They couldn't move it at $10K but then increased the price?

And, in april apparently citi habitats will start leasing units at the luxury rental, the Ashley on Riverside Drive ( beds start at 1200 sq. ft, 3 beds start at 1800 sq ft). In the fall, the luxury rental on 67th and amsterdam is supposed to come online. So I would think rental apts in the area have considerable downward pressure. For my money I think the Grand Tier on 64th and Broadway is a better building with better apts and superb management and their 2 bed are around 8000 -- or lower with the free month i still believe they are giving. The Grand Tier is less negotiable because they have so many corporate clients -- including a lot of Asian banks. I would imagine that the Corner is going to have to be extremely negotiable.

ino: it is the delusions of spring factor. since most of the investor apts that are available for rent have been on the market since november, what else do they have to hope for.

The Ashley (these corny names are a hoot) is on 63rd near Riverside Boulevard, so not in the running.

Aire on 200 West 67th Street is competition:
http://www.rosenyc.com/New-Development/Aire.aspx

Yah, I guess. Something about hope springs eternal. Either that or a Maine prison of one's own making.

Saw some 2BR apartments. Although the apartment was beautifully appointed (kitchen and bathrooms) I found the rooms to be too small and the closet space and kitchen storage space to be inadequate.

Any low income units in this building? Is this an 80/20 building?

No. See http://www.nychdc.com/ApartmentSeekers/Applications.html

Some priced listings are now up on SE for those who haven't seen...

So it looks like there's a 1 BR asking just over $5k/month. I know others have said this before, but I just have a really hard time seeing who is going to pay those prices, both in absolute terms and as compared with what else is on the market. For instance, you could go to the condo across the street and get this (admittedly slightly smaller) 1 BR for $3200. http://streeteasy.com/nyc/rental/634469-condo-201-west-72nd-street-upper-west-side-new-york. What do people think these will actually go for?

As someone who lives in "the condo across the street", I've been observing this building/site since they torn down the brownstones in '07. What I can see from my side is that a lot of the empty units facing W 72 or Broadway are being lighted at night to give an illusion of higher-than-truth occupancy. About two third of the lighted windows you see from street level at night have absolutely no furniture. On the 4th of July night when most UWS rooftops are filled with people watch the firework, I could count the number of people on their beautifully landscaped rooftop of this building by hands. On the other hand, I do see moving trucks parking outside, sometime more than one. So it is perplexing, both for the insane asking rent and all the empty units wasting energy every night. ...... Well, that fact is, I only care about when the Trade Joe is opening door. How long does it take to put in some shelves, fridges, and check-out counters? This is so slow!!! An interesting question (but off SE topic) is how Trader Joe is going to affect business at Fairway and Whole Foods in the neighborhood.

Trader Joe's has nothing on Fairway; Fairway customers are very loyal and some will shop Trader Joe's but will still shop at Fairways. Lots of units rented alreay at high prices for someone but not for the people who can afford it and do not care. It's all relative.

Anyone know if they are boosting rent or keeping it the same for existing renters?

Read in NYT that it is no longer offering incentives.

The developer has sold the residential condo unit (80% of the building) to TIAA-CREF (the pension fund) for $209,000,000, or $1323 per ft².

So your point is that retired teachers and college professors are no responsible for expensive rental prices in NYC?

No point at all. They bought it based on achieved/projected rents. I guess they win some and lose some, like any investor.

The building has terrible management. Very unprofessional - do not keep to promises. New owner has refused to provide services promised by original owner.

What, no "decompression room"?

You could bypass the management and complain directly to the owner:

James Garofalo
TC-200 W 72nd Street LLC
TIAA-CREF
730 Third Ave
NY NY 10017-3206

Terrible management. Overpriced. Impractical. Looks nice but designed by someone who's never lived in an apartment.

Was at their "weekly" open house about 2-3 months back. Broker was selling the great "Roof Deck" while the apartment is just big enuff for Frodo and his Hobbit buddies. Amenities don't even come close to some of the newer building along Riverside Blvd. Their children's room is a "closet" and the gym looks like an after thought. If you like to hear the rumbling of the express train, since the building is right on-top of the 72nd station, then get ready to pay a lot.