Essential Resource for Prospective Renters

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          Luxury Rentals
            May 2010

                                                                            Inside this issue
                                                                           Neighborhood Spotlight:
                                                                           Midtown West
                                                                           Urban Edge:
                                                                           A world without brokers

       COVER PHO
        505est 37 ry
           W xu
      The new ers in
       rental tow n’s
         Manhatta s
         Hudson Yard

            Essential Resource for
              Prospective Renters

                        GET ‘EM WHILE THEY’RE HOT
                        We offer the most current availabilities in the NYC area - 24/7. At Urban Edge, every listing is
                        removed after 2 weeks if not updated by the owner. Why settle for stale listings?

See our ad on page 7
                                                                                                                                          exampleobserver5:Observer 4/21/10 6:33 PM Page 1

Neighborhood Spotlight
                                                                                                                         views from the                                                                              Introducing
                                                                                                                         living room of
                                                                                                                         505W37, build-                                                                              Connecting New Yorkers directly to Owners
                                                                                                                         ing exterior
                                                                                                                         (below)                                                                                     Thousands of NO-FEE, NO-BROKER listings

                                                                                                                                           Upper East Side                                        The Brittany                                         Upper West Side                                        The Corner

                                                                                                                                                                                                  1175 York Avenue                                                                                            Corner 72nd & B’way

                                                                                                                                                                                                  888.458.6444                                                                                                212.721.1200

                                                                                                                                                                                                  1 BR with 1.5 bath
                                                                                                                                                                                                                                                                                                              Leasing Office
                                                                                                                                                                                                  from $2612
                                                                                                                                                                                                                                                                                                              Now Open

                                                                                                                                          full-time doorman • indoor pool • rooftop deck • fitness center,                                             fully attended lobby • childen’s playroom • 10,000 sf landscaped

Midtown West
                                                                                                                                          elevator • children’s playroom • residents’ garden                                                          roof deck • the Corner Club with resident’s lounge & fitness center

                                                                                                                                           Midtown East                                           Waterside Plaza                                      Midtown West                                           Silver Towers
                                                                                                                                                                                                 10-40 Waterside Plaza                                                                                        600 West 42 Street

         efore recently,           Cornerstone. Walsh says they       Jacobs, Executive Vice               The posh 288-unit Ohm
                                                                                                                                                                                                 877.276.7810                                                                                                 212.473.4242
         the last shred of         have had no trouble leasing        President at Glenwood,           in West Chelsea fills out
         Manhattan below           at their 835-unit project          a developer which has            the Westside’s successful
100th street that had not          in the area- 505 W. 37th.          traditionally, and wisely,       portfolio. The building, from                                                             Studio from $2000                                                                                            Studio from $2119*
been developed was the             “Hudson Yards as a brand           focused on rentals and had       Douglaston Development,                                                                   2 BR from $2895                                                                                              Alcove Studio from $2631*
Westside corridor between          needs additional time to take      a large role in the Midtown      has public performance                                                                                                                                                                                 1 BR from $2996*
the 30’s and the mid 40’s.         off,” concedes Mr. Walsh,          West area’s development.         spaces and luxurious                                                                                                                                                                                   2 BR from $3724*
The Hudson Yards, as the           but the developer sees the         Now there is competition.        perks. It fits well with a                                                                                                                                                                             Loft w/ Terr from $2824*
area was dubbed, was               neighborhood as a long-term        At 37th street and the           neighborhood replete with
favored by the Bloomberg           investment. In fact, they have     corner of Ninth Avenue is        cultural amenities, like the       24-hr doorman • on-site health club w/ pool & sundeck • 24-hr                                               concierge • swimming pool • sun terrace • bbq & wet bar • fitness
                                                                                                                                          laundry rooms • 24-hr attended garage • landscaped plaza                                                    center • 24-hr doorman • on-site indoor parking
administration for myriad          to see it as one- “We don’t sell   a Lalazarian project, which      Baryshnikov center and
reasons and benefit from           our buildings,” says Mr. Walsh.    will open within the month.      various strips of haute-
lucrative tax incentives for           “The area, particularly        Nearby Emerald Green and         cuisine.                            Downtown                                               Soho Court                                           Financial District                                     200 Water
building. But this was not         on 37th street, has a lot of       Silver Towers are rising from        And these buildings may
without controversy, skeptics      construction,” says Gary           what was once the ashes          do particularly well given
                                                                                                                                                                                                  301 Elizabeth Street                                                                                         200 Water Street
or difficulty. The extension of                                       of a blighted section of         the lack of inventory in the
the 7 line has taken forever,                                         Manhattan.                       pipeline. “These buildings
New York City did not get the                                            “The area is growing,         were all conceived and                                                                     347.728.0380                                                                                                 212.204.1220
2012 Olympics, and the city                                           becoming more established,”      started [construction] before
administration eventually cut                                         says Mr. Jacob, whose            the market dropped off.                                                                    1 BR from $3195                                                                                              1 BR from $2614*
and ran on the tax subsidies.                                         company is drawing up            Since then there has been                                                                                                                                                                               2 BR from $3861*
But somehow the transitional                                          plans for a project on 39th      little financing. There is no                                                                                                                                                                           Duplex from $3407*
neighborhood has emerged                                              between Eighth and Ninth         421-a program anymore,”
from the recession vibrant.                                           avenues. Glenwood, noted         says Mr. Jacob. “Not many
    “What they were going to                                          for being consistently           people are willing to go
pay to be in a fifth floor walk-                                      financially sound and never      forward with a rental building     private landscaped garden • attended garage • fitness center • on-site                                       24-hr concierge • valet services • tenant lounge • fitness room
                                                                                                                                          resident manager • bike parking • online tenant services                                        33rd floor roof deck • on-site drug and gourmet deli
up they can now pay and be                                            using mezzanine lenders, will    right now. [Developers] will
in a building with a reputable                                        likely use the market’s timing   need to be fortunate enough
                                                                                                                                           *prices are net effective
developer,” says Scott Walsh,                                         to buy up more inventory in      to get 20/80 bond financing,
                                                                                                                                           All information furnished regarding properties for rent is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof. Listings submitted are subject to
Director of marketing for TF                                          the area.                        and that is in limited supply.”     errors, omissions, change of price, rental or other conditions without notice. All dimensions are appropriate.

6                                                                                                                                                                                                                                                                                                                                             7
                                                                                                                                      2000 square ft inside

Bringing owners directly to
                                                                                                                                      843 acres outside
                                                                                                                                      40 Central Park South Luxury Rentals
                                                                                                 Don Tallerman
consumers and streamlining                                                                       and Ilana
                                                                                                 Schwartz roll
the process of finding an                                                                        through the
                                                                                                 Flatiron District.
apartment in NYC

         nyone who has                                                                               horrible abuse of buzz
         ever looked for an                                                                          phrases is not such an
         apartment in New                                                                            unfamiliar scenario to any
York City has had this                                                                               renter outside the Park
experience. The one where                                                                            Avenue South echelon. And,
you tour a studio apartment                                                                          in Mr. Tallerman’s mind,
with the shower in the                                                                               the market will not support
kitchen, where the bed has                                                                           unscrupulous brokers
to be moved each time you                                                                            forever. He sees them as
open the front door. The                                                                             unnecessary. “[Apartment
apartment that the broker                                                                            brokerage] is not a separate
said was going to be “a                                                                              industry in Minneapolis.”
perfect fit,” for you. That’s                                                                        Ms. Schwartz puts it more
when you have undoubtedly                                                                            softly- “We found that there
thought to yourself “there                                                                           was an inefficiency online.”
has got to be a better way.”                                                                             When the pair met up,
   Ilana Schwartz and                                                                                Tallerman pitched the idea
Don Tallerman of Online                                                                              to Ms. Schwartz who replied
Marketing Group Inc.                                                                                 immediately: “that’s my
agree. Their new site,                                                                               idea!” They do not have, is a                                                                                investors, so they have a
free listing service created                                                                         huge incentive to succeed.
with the intention of           comprehensive service           online, this duo may have                In this market, landlords
bringing owners directly        than a broker provides.         found the simplest and               and renters alike may be
to consumers, and at the        Ultimately, the goal is to      yet most helpful site New            willing to eschew traditional
least streamline the often      narrow a renter’s choices       Yorkers could want- a free           brokerages. The key for
cumbersome process of           and give both the consumer      apartment matchmaking                UrbanEdgeNY is their
finding an apartment in         and the owner more control      service. “It’s not a brilliant       willingness to work with
this city. “We don’t want to    in the apartment rental         idea,” concedes Mr.                  all levels of income- “from
eliminate brokers exactly…                                                                           a walk-up in Brooklyn                     At 40 Central Park South luxury rentals are a breath of fresh air and white glove
                                process.                        Tallerman.
we want to help people             Ms. Schwartz’                   And it might not be the           to a penthouse,” as Mr.
market their properties,”       background as a personnel       most popular idea in the             Tallerman says. They are                  convenience in this pet-friendly building, with sound proof windows,
says Ms. Schwartz, and          trainer in real estate, and     real estate community- a             willing to do low-income
for free. After all, as Mr.     Mr. Tallerman’s as an           service that potentially             housing as well. In the
Tallerman points out, “the      account services executive      eliminates brokers.                  future Mr. Tallerman hopes
internet is about free.”        in advertising, combine         UrbanEdgeNY features                 to add shares and sublets.
   Yes it is. And those         forces to focus on the online   self-produced videos of              Realizing this may sound
free services can be            potential that apartment        slimy brokers showing a              overambitious, he pauses
mighty disappointing.           owners may not know how         dirty apartment in a terrible        and adds “squatters too.”
UrbanEdgeNY offers paid         to focus. With   neighborhood while saying            Well, as long as you are
services as well, such as       as an online emblem of the      to the prospective renter            revolutionizing an industry...
search engine optimization.     tragedy of the commons,         over the phone that “the                 Only time will tell how
In essence, they offer          and alternative sites, such     place has character, the             this business model plays
end-to-end marketing for        as, charging      area is going to come up             out, but the sentiment
apartment owners, a more        a fee to market apartments      any second now.” This                seems quite solid.

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     10019. 212.750.1600.                      a week. 877.505.3737.

thE ashlEy
     the ashley, a newly
                                                                        BEttina EquitiEs
                                                                         Bettina Equities:
                                                                                                                                             two tREEs MangEMEnt
     constructed rental is
     the latest addition to
     Manhattan’s vibrant
                                                                         Living Well, In the World’s Greatest
                                                                         City. Bettina is known for affordable
                                                                         prices that make Manhattan living
     Riverside South
     neighborhood. Residences
                                                                         in the finest buildings within reach,
                                                                         with NO FEE! Attractive studios,
     feature classically designed                                        spacious three-bedroom duplexes
     oversized floor plans with                                          and triplexes in the most desired
     sophisticated and elegant                                           neighborhoods: East/West Side,                                       two trees Management Co. is pleased to announce it’s
     details. An extensive selection of amenities includes a 40,000
     sf LA PALESTRA Fitness Center & Spa, Abigail Michaels
                                                                         Clinton, Murray Hill, Gramercy Park,
                                                                         Union Square and East Village.
                                                                                                                                              collection of NO-FEE apartments. Each building has its own
                                                                                                                                              superb array of amenities, many of which include a 24- hour
                                                                                                                                                                                                                    ➤ June 23
     Concierge Service, courtyard, lounge and a host of resident
     services. The Ashley is now leasing for spring occupancy. The
                                                                         Experience the difference in the
                                                                         way our buildings are run— with a
                                                                                                                                              concierge, individual washer and dryers, on-site parking, outdoor
                                                                                                                                              courtyards or rooftop gardens and fitness centers. In the artist
                                                                                                                                                                                                                    ➤ July 28
     Ashley Leasing Center is located at 400 West 63rd Street, New
     York, NY 10069. For more information, please call 212.247.4600
                                                                         quality commitment and ongoing attention to amenities such as
                                                                         exceptional maintenance/upgrades, a responsive management
                                                                                                                                              waterfront community of DUMBO, is an intimate portfolio of
                                                                                                                                              historic loft style properties each with its own rich history. For
                                                                                                                                                                                                                    ➤ august 25
                                                                                                                                                                                                                    ➤ september 29
     or visit us at WWW.THEASHLEYNYC.COM.                                staff and roomy, comfortable layouts.       more information please visit

EMERalD gREEn                                                           PlatinuM PRoPERtiEs                                                  uRBan EDgE
                                                                                                                                                                                                                    ➤ october 27
     Emerald green, Glenwood’s                                           Having recently opened                                               urban Edge is a new,
     first LEED-certified rental                                         a new office in Midtown                                              free website for New York
     building, offers residents superior                                 East and also having                                                 City real estate listings,                                                                                              For more information,
                                                                         been chosen to handle
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     amenities. Residents enjoy such                                     at 90 West Street,                                                   eliminating the need to pay                                                                                                 Robyn weiss
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                                                                                                                                                                                                                                                                       associate Publisher,
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     playroom and a state-of-the-art                                     firm specializes in luxury sales and rentals throughout all of       already posting on the
     fitness center. Comprised of 568                                    New York City and recently added two new divisions: on-site          site – there are currently
     spacious apartments ranging from                                    sales and leasing, as well as individual property management.        3,000 listings. Brokers are                                                                                                       or
     alcove studios to two-bedroom,                                      Additionally, Platinum has partnered with Luxury Attaché,            not allowed to post on the
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     stands as the prime residential addition to Midtown West. Visit     dedicated access through the Platinum Concierge. For more   or call (212) 695-3838.                     information, contact Platinum Properties at (212) 825-0050.

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