Real Estate

As prices soar, buyers turn to soul-less, cookie-cutter units

Strikingly comparable new developments throughout the town are luring consumers away from restrictive co-ops and historic brownstones and into generic-looking, cookie-cutter areas.

However to consumers like Bartell Cope, who’s in contract for a brand new unit in the Rennie, “You make a spot your personal with paint, decorations and your private vitality, so it isn’t cookie-cutter to me — it’s sensible.”

Cope and his fiancé Samantha Gorman, who’re relocating to Harlem from Santa Cruz, California, the precedence was discovering a spot that might enable them to right away focus their consideration on all that the town has to supply.

“The romantic concept of restoring a brownstone is superior, however frankly a luxurious should you can handle that,” stated the 32-year-old, whose distant job in gross sales has given him flexibility. 

The kitchen inside their Rennie residence.
The Rennie Connection
Interior of the kitchen area inside the couple's Rennie abode.
The kitchen space inside their Rennie abode.
The Rennie Connection

Though the Rennie is billed as luxurious residences with one-bedroom items beginning at $675,000, the items lack the transitional areas featured in super-luxury buildings like 145 CPN or 200 Amsterdam and thus are thought of “environment friendly,” defined Stephen Kliegerman, advertising and marketing president of Brown Harris Stevens Improvement.

“The Rennie, with a 25-year tax abatement at a really cheap value per sq. foot, is a good worth play.”

Stephen Kliegerman, advertising and marketing president of Brown Harris Stevens Improvement

“The Rennie, with a 25-year tax abatement at a really cheap value per sq. foot, is a good worth play,” Kliegerman stated. As such, residences like this “are usually much more environment friendly, [have] quite a bit much less circulation house, however much more usable house.”

Whereas Cope and Gorman’s 792-square-foot house on the Rennie isn’t thought of a tiny one-bedroom by New York requirements, the truth, in response to Corcoran agent Sam Teichman, is that loads of builders of recent buildings are “making an attempt to create as many items as doable within the general footprint of the constructing.”

Extra revenue in these effectivity buildings comes from extra items — not by, say, including additional sq. footage to a bed room or incorporating transitional areas in a 600-square-foot unit. 

In the mean time, his purchasers’ common response to this “effectivity unit” mannequin is, “I’d like more room for my cash.” 

Exterior of 145 Central Park North.
Lane and Lily Rettig have been stoked to wind up at 145 Central Park North.
Redundant Pixel
Interior of a dining area inside 145 CPN.
A eating space inside 145 CPN.
Redundant Pixel
Interior of a bedroom inside the boutique South Harlem building.
A bed room contained in the boutique South Harlem constructing.
Redundant Pixel

Predictably, these with extra disposable incomes don’t need to sacrifice house.

Lane Rettig and his spouse Lily Rettig, are thrilled with the place they landed at 145 CPN, which Rettig described as a “small, boutique constructing that has loads of appeal and character,” very similar to the UWS brownstone rental Rettig admitted they “have been very unhappy to depart behind.”

The Rettig’s three-bed, two-bath 1,509 square-foot $3.5 million unit faces Central Park and was the constructing’s report excessive sale as of December 2021.

Interior of a bedroom inside Jolie.
A lightweight-filled bed room inside Jolie.
Binyan Studios
Interior of a dining area with a fireplace inside the Jolie.
Dine hearth inside a unit contained in the constructing.
Binyan Studios
Exterior of the Jolie.
Jolie kisses the night time sky from its base on Greenwich Avenue.
Binyan Studios

Aida Sukys, CFO of software program firm Justworks, pushed again towards the concept new buildings, regardless of not possessing “the pre-war historical past or appeal” are any extra cookie-cutter than a pre-war conversion.

In actual fact, Sukys stated she was drawn to “the finishes at Jolie and felt that they have been something however cookie-cutter.” Personally, she stated she’d relatively, “layer in my very own contact and character within the residence by way of furnishings, work, and wall coloration, and never have to fret about fixed upkeep.”

“The finishes at Jolie felt something however cookie-cutter.”

Aida Sukys, CFO of s Justworks

Louise Phillips Forbes, a veteran luxurious actual property dealer, stated it might be a mistake accountable the builders for the generic layouts, widespread particularly in so-called effectivity items, which handle to flee galley kitchen destiny, due to an absent wall however not a lot else.

They’re simply responding to the market.

“What builders construct and what these cookie cutters provide,” stated Philips Forbes, are notably interesting to “worldwide consumers” who don’t essentially really feel a robust connection to the town’s historical past and may stay with out the soul of a pre-war constructing.

The overriding design aesthetic — numerous gentle, clear traces — in new builds can also be a response to what individuals need right this moment, stated Philips Forbes. “It must be gentle, proper? As a result of that’s going to put on with time.” 

REAL New York’s Jason Warner, who’s overseeing gross sales at the Benny (no relation to the Rennie), stated the selection to purchase in a brand new constructing is pushed by the need to maneuver right into a “‘actual grownup’s house.’” On the new house constructing in Prospect Lefferts Gardens in Brooklyn, the place Warner’s overseeing gross sales, that actual grownup’s house interprets to 686 sq. ft for $580,000.

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