Six months in, Ohm still offers concessions

TRD New York /
Aug.August 18, 2010 06:00 PM








Guests arrive at the Ohm event.












 

Ohm developer Douglaston Development is still offering two months free rent on roughly 80 percent of the apartments at the 288-unit building — even as other landlords are eliminating concessions.

“Everyone says the rental market is tightening up,” said Jeffrey Levine, chairman of Douglaston, at an event last night (see photos above) celebrating the building and the impending completion of the elevated High Line Park’s “Section 2.” “But when you have [many] units to rent up, two months is a small price to pay.”

The units range from studios to two-bedrooms to one three-bedroom. Rents for one-bedroom units start at $2,850 a month, said an Ohm spokesperson. The three-bedroom apartment is already rented for $10,000, according to Streeteasy.com.

Roughly six months after opening, the building is approximately 65 to 70 percent leased, according to Steven Charno, president of Douglaston.

Park advocacy group Friends of the High Line co-hosted last night’s event at Ohm, which sits adjacent to the High Line at 312 11th Avenue.

Ohm, which counts legendary former Mets player Darryl Strawberry as a resident, overlooks the High Line park’s Section 2, which will extend the park north up to 30th Street, and will be completed in Spring 2011.

 

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