The Real Deal New York

NYC’s first micro-units hit the market Monday

A 360-square-foot unit is asking $2,750 a month

November 22, 2015 11:59AM


A rendering of Carmel Place (credit: Mir) 

The micro-units are finally here. Tomorrow, leasing kicks off at Carmel Place (formerly known as My Micro NY) – the city’s first micro-unit development.

The modular development, located at 335 East 27th Street, is nine stories and contains 55 studio apartments, which range in size from 260 to 360 square feet, according to the New York Times.

But just because they are small doesn’t mean they are cheap. Units can be rented furnished or unfurnished, with a furnished 355-square-foot apartment asking $2,910 and an unfurnished 360-square-foot unit asking $2,750.

The cheapest unit is listed at $2,540 a month for just 265 square feet. A 323-square-foot studio on the eighth floor with a 268-square-foot terrace won’t hit the market for another few weeks.

The building includes 14 “affordable” units designated as affordable. But good luck scoring one, some 60,000 people have already applied. The building plans to officially open in February. [NYT]Christopher Cameron