In London, Related is unveiling micro-units

And if the model works, they could be bringing them to NYC

TRD New York /
Oct.October 08, 2016 12:00 PM

In New York, Related Cos. is known for mega-projects like Time Warner Center and Hudson Yards — the largest development in New York City since Rockefeller Center. But across the pond, the developer is trying a very different model: micro-units.

Pocket Living is based in London but co-owned by Related. And, true to its name, the developer just delivered a collection of tiny, one-bedroom flats to the London market, according to Bloomberg.

Pocket’s new London apartment are just 409 square feet – only a couple of feet larger than the minimum requirement for one person with no bathtub by city law. But petit size doesn’t mean low-cost in London’s ultra-competitive housing market. Apartments at Pocket’s new development have sold for between roughly $204,000 and $370,000.

And now that they’ve conquered the London market, Pocket and Related hope to expand into other urban markets.

“We would love to see their ideas, if not their direct product, translate into other markets, into other cities,” Ken Wong, chief operating officer in New York, told Blooberg. “The question of whether it fits into the building codes and whether the business can work … is going to be the challenge.”

 

[Bloomberg]Christopher Cameron


Related Articles

arrow_forward_ios

In the most expensive housing market on earth, demand for micro-apartments is on the rise

Did you know NY state is home to the planet’s smallest inhabited island?

Jonathan Rose brings tiny living to Brooklyn

Apartment or prison cell? In Hong Kong, it’s hard to tell

Kash Group buying Morgans Hotel for condo conversion

Related thinking small in London

Crazy pictures of micro-apartments around the world

Micro Units NYC

Living small? You’d better get used to it

arrow_forward_ios