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Leasing launches at Ruby, MAG Partners' first development in the heart of Chelsea
By CityRealty Staff
Wednesday, March 1, 2023
Nearly three years after its founding, the MaryAnne Gilmartin-led MAG Partners marks a significant milestone with the leasing launch of Ruby, a two-towered rental development with 8,500 square feet of retail space at 243 West 28th Street. Developed in a joint venture between MAG Partners, Safanad, Atalaya Capital Management and Qualitas, the building rose on the former site of a parking lot. Construction topped out in December 2021, and leasing is underway on the apartments inside.
Market-rate availabilities at Ruby start at $3,997/month for studios, $5,225/month for one-bedrooms, and $8,308/month for two-bedrooms. The prices are net effective to reflect an incentive of one month free rent and one month OP. They are also roughly in line with the Chelsea median rent, which ranges from $4,151/month for studios to $8,800/month for two-bedrooms (all figures per CityRealty listings).
In addition to the market-rate units, a housing lottery for 144 rent-stabilized units is in effect at Ruby until March 27, 2023. Households earning $48,138 - $187,330 are eligible to apply for studios from $1,329/month, one-bedrooms from $1,420/month, two-bedrooms from $1,699/month, and a three-bedroom for $1,954/month. Full criteria and the application may be found here.
In addition to the market-rate units, a housing lottery for 144 rent-stabilized units is in effect at Ruby until March 27, 2023. Households earning $48,138 - $187,330 are eligible to apply for studios from $1,329/month, one-bedrooms from $1,420/month, two-bedrooms from $1,699/month, and a three-bedroom for $1,954/month. Full criteria and the application may be found here.
Lottery criteria (Housing Connect)
The new building is named in honor of Ruby Bailey, a Bermudian fashion designer who came to New York at the age of seven and lived in Harlem until her death in 2003. Decades later, her doll-sized mannequins are part of the permanent costume collection at the Museum of the City of New York, and she is remembered fondly for her portraiture, her beadwork, and her impressive wardrobe. This is the first of MAG Partners’ residential buildings to be named after an influential woman (the names of others, including the nearby 335 Eighth Avenue, to be announced at a later date), and the developer will further honor Ms. Bailey by partnering with The Social Justice Center at FIT to offer a scholarship to BIPOC FIT students.
“MAG Partners is built upon the principles of beauty, diversity, inclusion, and sustainability, all of which are reflected within the living experience at Ruby” – MaryAnne Gilmartin, Founder and CEO, MAG Partners
The 480 units are spread between two towers, one measuring 22 stories high and the other measuring 23 stories high. Designer COOKFOX brings their signature biophilic principles to this building, and the eye-catching facade is undergirded by high-performance systems that optimize energy performance and enhance indoor air quality. Not only does this promise improved quality of life at Ruby, but it contributes to the building’s LEED Silver certification.
In a statement, COOKFOX Founding Principal Rick Fox cited Garment District masonry buildings and woven textiles as inspiration for Ruby’s design. This is highly appropriate, given its address across the street from FIT and at the southern end of the Garment District. It is also close to Hudson Yards, Chelsea galleries, popular local restaurants, and the Chelsea Whole Foods. Transportation options include the 28th Street 1 at the end of the block and Penn Station a few blocks north.
Select units have private outdoor space, and all apartments feature:
- Smart Home keyless entry
- Ceilings up to 15 feet high
- Oversized windows with solar shades
- Three-layer, 5” wide engineered oak wood flooring, the better to improve acoustic performance
- Bedrooms with blackout shades and generous closet space
- Baths with porcelain herringbone tiles, ceramic subway tile walls, and extra-wide built-in medicine cabinets
- Nest thermostats
- Energy Star-certified in-unit washer/dryers
Attended lobby
Library lounge
Fitness center
Rooftop pool
Ruby’s robust 19,000-square-foot indoor/outdoor amenity package includes:
- Attended lobby overlooking a landscaped garden
- A courtyard anchoring both towers
- 5,000-square-foot fitness center spanning two floors and offering separate cardio and weight training areas
- A library lounge with coworking and meeting areas
- Club lounge with abundant light and greenery
- Rooftop with outdoor pool, lounge, and grilling terrace
Additional Info About the Building
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