The Aldyn

From the March issue: The 40-story Aldyn is the latest in a wall of luxury towers, and the fourth by Extell Development, to sprout up on Riverside Boulevard in the West 60s.

This largely glass building, however, is a condo-rental hybrid — an option that, as The Real Deal has reported, has become increasing popular for developers since the economy soured because it helps them hedge against the uncertain sales market. The Related Companies has a hybrid project at 440 West 42nd Street, and J.D. Carlisle Development Corp. has the Beatrice/Eventi combination on 29th Street.

But the hybrid model is a first for Gary Barnett’s Extell, which has also built the Avery and the Rushmore, both condos, and the Ashley, a rental, on this patch of Riverside South, a site extending from 59th to 72nd streets. [more]

From left: Jonathan Rose, head of Jonathan Rose Companies, a rendering of the Tapestry at 245 East 124th Street, and two images from the building’s model units

The leasing office at Tapestry, a 185-unit green residential building in East Harlem, is opening April 1, one of several new rental buildings hoping to take advantage of the traditionally stronger rental season. Residents at the 12-story building, located at 245 East 124th Street at Second Avenue, will be able to move into the building in May. For the 92 market-rate units, rents start at $1,850 for studios, $2,050 for one-bedrooms, $2,800 for two-bedrooms and $3,900 for three-bedrooms. All of the units are currently being offered with one-month free and a broker OP, or owner pays (the broker fee), according to Seth Rosner, managing director at Nancy Packes, the real estate company handling the leasing. The building, which will be complete by the move-in date, was developed by Jonathan Rose, the president of Jonathan Rose Companies, along with Lettire Construction. [more]

From left: 80 Dekalb Avenue, BKLYN Gold, Beekman Tower and Cliff Finn of Citi Habitats

Citi Habitats’ managing director of new development marketing, Clifford Finn, gave The Real Deal the scoop on several new development rentals the company will be marketing this spring.

In early April, Citi Habitats will begin leasing units at the Ashley, a 209-unit luxury rental building developed by Extell Development. Located on 63rd Street between West End and Riverside, the Ashley is the sister rental tower to new condo the Aldyn. Starting in mid-May, Citi Habitats will be handling rentals at the Addison, a 270-unit project on Schermerhorn Street in Downtown Brooklyn from Broadway Management Company, the developer of new Manhattan condominium Sutton57. Rentals of the Addison’s studios and one- and two-bedroom units will start in mid-May for summer occupancy, Finn said.

Downtown Brooklyn has exploded with new rentals recently, including another project Citi Habitats is marketing, Forest City Ratner’s 354-unit 80 DeKalb Avenue. Also in May, Citi Habitats will start leasing at Lalezarian Properties’ new rental project at 350 West 37th Street at Ninth Avenue. The 80/20 project is tentatively being called “Townsend,” though that could change. [more]