Big demand for small Manhattan rentals

Posted on August 22, 2012 by themarketingdirectorsinc

via By Leigh Kamping-Carder/ The Real Deal

Price hikes for studios and one-bedrooms outpace larger apartments

New York City is famous for its cramped — and pricey — living spaces.

That’s truer than ever this summer, with the busy rental market continuing its frenzied pace. But tenants looking for smaller units are feeling the worst of the pain, as rent increases for studios and one-bedrooms outpace the market overall, according to a Prudential Douglas Elliman quarterly market report released last month.

In fact, in the second quarter of 2012, rents for these small homes were at their highest levels in at least four years, according to appraiser Jonathan Miller, who prepared the Elliman report.

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“There is new rental product coming into the marketplace all the time,” said Adrienne Albert, CEO of the Marketing Directors, which is currently marketing the Crescent Club, a 130-unit Long Island City rental tower. But, she said, it’s “not at a level that would significantly influence pricing.”

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CRESCENT CLUB TAPS INTO RENTAL AND LONG ISLAND CITY DEMAND WITH 30% OF ITS RESIDECES LEASED IN FIRST MONTH

Posted on July 31, 2012 by themarketingdirectorsinc

CRESCENT CLUB IN LONG ISLAND CITY

LONG ISLAND CITY – A healthy appetite for new luxury rental residences and the growing appeal of Long Island City as a residential destination have led to a successful Grand Opening at Crescent Club, where 30% of its upscale apartments have been leased in just the first month.

The 17-story building located at 41-17 Crescent Street has quickly tapped into the large pool of renters looking to Long Island City by offering a sought-after combination of spacious residences, exceptional amenities, attractive pricing and a convenient location just steps from the Queensboro Plaza subway station with access to-and-from Manhattan in less than 7 minutes.

Originally conceived as an upscale condominium, Crescent Club features 130 studio, one- , two- and three-bedroom apartment homes with condominium-level interior finishes, according to Meadow Partners and Simon Development Group, the joint-venture owners/developers of Crescent Club. The partnership retained The Marketing Directors, Inc. as the building’s exclusive marketing and leasing agent.

Monthly rents for the apartment homes currently begin from the $2,500’s for studios and one-bedroom homes, $3,600’s for two-bedroom residences, and $5,200’s for three bedroom homes.

“Value, lifestyle and convenience are major factors driving the initial leasing success at Crescent Club,” notes Jacqueline Urgo, President of The Marketing Directors, Inc. “People have been pleasantly surprised by the high level of finishes and design elements found throughout the apartment homes, and are excited about the outstanding suite of indoor and outdoor amenities, including a landscaped backyard with an outdoor pool. The convenience to midtown and downtown Manhattan is also a big selling point, as are the price points which compare favorably to residential options in Manhattan and Brooklyn.”

Crescent Club’s five-star recreational and social amenities include a 24-hour attended lobby, state-of-the-art fitness center, a rooftop lounge, residents’ lounge, business center, and more. Considerable outdoor space is provided by a landscaped backyard enhanced by a 70’ outdoor pool, BBQ grill with dining areas, lounge seating, sunbathing areas, outdoor yoga and an outdoor shower. There’s also a business lounge with multi-functional conference/game table and plasma TV, residents’-only lounge with catering kitchen, lounge seating and plasma TV, and the rooftop “Sky Club” featuring sweeping Manhattan skyline views, billiards table, catering kitchen and bar, lounge seating, plasma TV and rooftop terrace.

The striking Crescent Club building boasts a charming brick facade highlighted by expansive windows that maximize natural light and views of New York City and the waterfront.

Inside, well-designed floor plans feature sophisticated finishes and appointments, including light and bright living spaces with Brazilian teak floors, oversized windows, up to 10’ ceilings, in-home washer/dryer, chef-inspired kitchens with Caesarstone counters, Bianca ceramic tiled backsplash, wenge wood & back-painted glass cabinetry and stainless steel appliances; and lavish master baths with honed stone floors, vanity & showers, custom wenge wood cabinetry, white ceramic walls, grohe rain shower and Zuma Soaking Tub.

Crescent Club is situated in the heart of Long Island City’s redevelopment effort with an influx of upscale restaurants, shops, luxury residences and more along the East River waterfront and central business district. The building is located less than a block from the 7, N and Q subway lines at Queensboro Plaza and five blocks from the E, M and R lines at Queens Plaza.

For additional information on Crescent Club, please call (718) 383-3444 or visit www.crescentclub.com.

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ABOUT MEADOW PARTNERS & SIMON DEVELOPMENT

With over 40 years of proven real state experience, development partners Meadow Partners & Simon Development Group collectively bring the assurance of a reliable, well-funded ownership team that is firmly committed to the development and success of Crescent Club and Long Island City. Their demonstrated talent, long-range perspective, and financial strength have set to redefine the standards of quality and excellence of luxury living in New York’s most up-and-coming residential neighborhood.

www.meadowpartners.com

www.simondevelopment.com

Crescent Club launches in Long Island City

Posted on July 16, 2012 by themarketingdirectorsinc

Crescent Club, a luxury building in Long Island City developed by Meadow Partners and Simon Development Group, has launched a collection of 130 rentals with condo-style interiors and Manhattan skyline views.

Originally conceived as an upscale condominium, the 17-story brick and glass building located at 41-17 Crescent Street offers studio through three-bedroom apartments. Studios begin at $2,100 a month.

One-bedrooms are in the $2,600s, two-bedrooms in the $3,900s, and three-bedrooms in the $4,700s.

The Marketing Directors, Inc. was retained as the building’s exclusive marketing and leasing agent.

The building’s amenity suite includes a 24-hour attended lobby, state-of-the-art fitness center, a rooftop lounge, residents’ lounge, business center, and more.

A landscaped backyard has a 70-foot outdoor pool, BBQ grill with dining areas, lounge seating, sunbathing areas, outdoor yoga and an outdoor shower.

There’s also a business lounge with a multi-functional conference/game table and plasma TV, residents’-only lounge with catering kitchen, lounge seating and plasma TV, and the rooftop “Sky Club” featuring sweeping Manhattan skyline views, billiards table, catering kitchen and bar, lounge seating, plasma TV and rooftop terrace.

“What truly separates Crescent Club from the competition is the high level of finishes and in-building amenities that are comparable to those found at some of New York City’s most prestigious high-rise buildings,” said Jacqueline Urgo, President of The Marketing Directors, Inc.

“The building is also conveniently located just steps from the Queensboro Plaza subway station, allowing residents to quickly reach midtown-to-downtown Manhattan in just minutes.”

Inside, units feature Brazilian teak floors, oversized windows, up to 10 foot ceilings, in-home washer/dryers, chef-inspired kitchens with Caesarstone counters, Bianca ceramic tiled backsplash, wenge wood & back-painted glass cabinetry and stainless steel appliances.

Master baths have honed stone floors, vanity & showers, custom wenge wood cabinetry, white ceramic walls, grohe rain showers and Zuma Soaking Tubs.

The building is located near upscale restaurants, shops, luxury residences and more along the East River waterfront and central business district.

CONDO-QUALITY LIVING APPEALS TO RENTERS IN LONG ISLAND CITY

Posted on June 20, 2012 by themarketingdirectorsinc

By Jessica Fiur, News Editor/ Multi-Housing News Online

New York—Crescent Club, a recently opened luxury community in Long Island City, N.Y., is proving that residents yearn for condo-quality features without the stress of owning. The community, which was purchased by Meadow Partners and Simon Development Group, was originally developed as condominiums and now features 130 rental units.

“Meadow Partners and Simon Development Group purchased Crescent Club with the goal of re-launching it as a luxury rental property to take advantage of the flourishing rental market in the area and the growing appeal of Long Island City as a viable residential option,” Jacqueline Urgo, president of The Marketing Directors, Inc., tells MHN. The Marketing Directors is the building’s exclusive marketing and leasing agent. “The benefit to renters is that they’ll be moving into an upscale building that was specifically designed for condominium ownership, so they’ll enjoy a high level of interior finishes and an elaborate amenity offering that wouldn’t typically be available in a rental building.”

Some of the amenities include a 24-hour attended lobby, fitness center, rooftop lounge, residents’ lounge and business center. Crescent Club also features an outdoor space that includes a pool, grill and dining area, lounge seating, sunbathing areas and an outdoor shower.

The apartments, which include studios and one-, two- and three-bedroom units, all have in-unit washing machines, chef-inspired kitchens, stainless steel appliances, rain showers and soaking tubs. Rent prices range from $2,100 to $4,700.

According to Urgo, Crescent Club’s location—walking distance from a subway that allows for a speedy commute into Manhattan—adds to its appeal.

“When you couple [the amenities] with convenient train service to midtown Manhattan in about seven minutes and monthly rents that are far below what you’d have to spend in Manhattan and parts of Brooklyn, you have a compelling value and lifestyle proposition that is fueling the growth of Long Island City,” she says.

CRESCENT CLUB GRAND OPENS IN LONG ISLAND CITY WITH 130 UPSCALE APARTMENTS AND WORLD CLASS AMENITIES

Posted on June 20, 2012 by themarketingdirectorsinc

The pool at Crescent Club

LONG ISLAND CITY – Crescent Club has officially grand opened to the public with a distinct collection of 130 luxury rental apartments that offer a winning combination of condo-style interiors, spectacular Hudson River and Manhattan skyline views, world-class amenities, and an ultra-convenient Long Island City location positioned just steps from the Queensboro Plaza subway station with access to-and-from Manhattan in under 7 minutes.

Originally conceived as an upscale condominium, the 17-story building located at 41-17 Crescent Street features lavishly-appointed studio, one- , two- and three-bedroom apartment homes complete with condominium-level finishes and appointments, according to Meadow Partners and Simon Development Group, the joint-venture owners/developers of Crescent Club. The partnership retained The Marketing Directors, Inc. as the building’s exclusive marketing and leasing agent.

Crescent Club also features an impressive amenity suite not commonly found in rental communities: five-star recreational and social amenities include a 24-hour attended lobby, state-of-the-art fitness center, a rooftop lounge, residents’ lounge, business center, and more. Considerable outdoor space is provided by a landscaped backyard enhanced by a 70’ outdoor pool, BBQ grill with dining areas, lounge seating, sunbathing areas, outdoor yoga and an outdoor shower. There’s also a business lounge with multi-functional conference/game table and plasma TV, residents’-only lounge with catering kitchen, lounge seating and plasma TV, and the rooftop “Sky Club” featuring sweeping Manhattan skyline views, billiards table, catering kitchen and bar, lounge seating, plasma TV and rooftop terrace.

“What truly separates Crescent Club from the competition is the high level of finishes and in-building amenities that are comparable to those found at some of New York City’s most prestigious high-rise buildings,” says Jacqueline Urgo, President of The Marketing Directors, Inc.

“The building is also conveniently located just steps from the Queensboro Plaza subway station, allowing residents to quickly reach midtown-to-downtown Manhattan in just minutes.”

The striking Crescent Club building boasts a charming brick facade highlighted by expansive windows that maximize natural light and views of New York City and the waterfront.

Monthly rents for the apartment homes currently begin from the $2,100’s for studios, $2,600’s for one-bedroom homes, $3,900’s for two-bedroom residences and $4,700’s for three bedroom homes.