Airbnb may be the scourge of New York City landlords — but one Jersey City developer is teaming up with the short-term rental company to lure renters to its 762-unit development.
At Jersey City Urby, a new glass-and-concrete tower at 200 Greene Street, tenants can rent out their apartments on Airbnb for up to 30 days a year, with the landlord getting a 5 percent to 15 percent cut, the Wall Street Journal reported.
David Barry of Ironstate Development [TRDataCustom], which is developing the building with Roseland Residential Trust, a subsidiary of Mack-Cali Realty Corp., said the policy made sense since many young renters already use home-sharing sites — even if it’s a big departure from how landlords do things across the river. Renters have access to a heated pool and barbecue pits, cooking lessons, Feng Shui classes, and discussions led by Urby’s “scientist-in-residence.”
“Don’t do it — that was the standard in the industry,” Barry told the Journal.
At 713 feet, Urby is Jersey City’s tallest residential building, and it’s stocked with amenities like a coffee bar, heated pool and barbecue pits, cooking lessons and Feng Shui classes. Rents start at $2,500 for studios and $3,100 for one bedrooms.
Airbnb said the Jersey City Urby is the first New York-area developer to take part in its “Friendly Buildings Program,” which was set up last year to bring landlords and tenants together. The program covers 10,000 units out of Airbnb’s 600,000 listings. [WSJ] — E.B. Solomont