Marketing is starting at the Tapestry, a 185-unit, mixed-income rental apartment building at 245 East 124th Street at Second Avenue.
Occupancy is anticipated for May.
The 12-story building has been developed by the Jonathan Rose Companies and Lettire Construction.
The building received about 10,000 applications for its 92 "affordable" apartments. It has 92 market-rate units with rents starting at about $1,850 for studios, $2,050 for one-bedrooms, $2,800 for two-bedrooms and $3,900 for three bedrooms.
Thirty percent of the remaining units are for moderate- and middle-income rents and 20 percent for low-income residents.
After initial occupancy, rents will be subject to rent-stabilization.
The New York City Housing Development Corporation provided up to $45 million in tax-exempt bonds for the development.
The building has Forest Stewardship Council-certified flooring, Energy Star appliances, double- and triple-glazed windows, individual apartment heat controls, and recyclable carpets and is aiming for a gold LEED certification.
An article at therealdeal.com today by Candace Taylor quoted Mr. Rose as stating that his company can build "green" buildings "for only about 1 percent more than a traditional building," adding that "making buildings greener does not have to cost significantly more; most of it just doing regular things greener and better."
The building has a concierge and doorman, a fitness center, a children's playroom, a garage, a media room and some apartments have washers and dryers.
It is convenient to the Metro North station at Park Avenue and 125th Street, the FDR Drive and the Lexington Avenue subway.
Occupancy is anticipated for May.
The 12-story building has been developed by the Jonathan Rose Companies and Lettire Construction.
The building received about 10,000 applications for its 92 "affordable" apartments. It has 92 market-rate units with rents starting at about $1,850 for studios, $2,050 for one-bedrooms, $2,800 for two-bedrooms and $3,900 for three bedrooms.
Thirty percent of the remaining units are for moderate- and middle-income rents and 20 percent for low-income residents.
After initial occupancy, rents will be subject to rent-stabilization.
The New York City Housing Development Corporation provided up to $45 million in tax-exempt bonds for the development.
The building has Forest Stewardship Council-certified flooring, Energy Star appliances, double- and triple-glazed windows, individual apartment heat controls, and recyclable carpets and is aiming for a gold LEED certification.
An article at therealdeal.com today by Candace Taylor quoted Mr. Rose as stating that his company can build "green" buildings "for only about 1 percent more than a traditional building," adding that "making buildings greener does not have to cost significantly more; most of it just doing regular things greener and better."
The building has a concierge and doorman, a fitness center, a children's playroom, a garage, a media room and some apartments have washers and dryers.
It is convenient to the Metro North station at Park Avenue and 125th Street, the FDR Drive and the Lexington Avenue subway.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
6sqft delivers the latest on real estate, architecture, and design, straight from New York City.
