Renderings of the new residential building at 318 East 81st Street in Yorkville (Image: 318east81.com)
The new condominium building on the Upper East Side at 318 East 81st Street launched sales over the summer for its six residences (more on that here), but many of the units are now being marketed as rentals with prices from $13,500 per month. The newly erected Yorkville building, between First Avenue and Second Avenue, was designed by Issac & Stern and interiors are from Escobar Design. There are six full floor residences with two or three bedrooms and all have private outdoor space.
Listings from Reuveni Real Estate show the second floor Residence #2 (listed for $13,500/month) has three bedrooms and three bathrooms, while the ground-floor Residence #1 (listed for $16,500/month) has two bedrooms, two full bathrooms and an expansive private garden. Residence #2 is also listed for sale for $3.5 million. The building’s Penthouse (listed for $18,000/month) is impressive; a three-bedroom layout with a private terrace and also a rooftop terrace accessed through a glass-enclosed atrium.
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Interiors are inspired by California modernism and each residence has an open, loft-like layout with full-height windows. Kitchens have Petra Grigio quartz backsplashes and countertops, with appliances by Sub-Zero, Miele, Wolf and Summit. Master baths have radiant floor heating, are clad in Arabescato marble walls and have tubs and showers are by Kohler with fixtures by Duravit. Residences have keyed elevator access and the building has a part-time doorman.
The trend of high-end condominiums being offered as pricey rentals is somewhat of a new trend in today’s sluggish sales market, according to The Real Deal, which recently asked brokers to weigh-in on the change in market. Many of their clients are attracted to the flexibility in rental terms, say brokers, including rental concessions and special offers.
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