Residential housing in today’s market means addressing the needs of many kinds of tenants including empty nesters, just out of college, students , millennial, young families and young professionals. These tenants are looking for space that offers great amenities and is specifically designed for their unique needs.
One common denominator amongst these groups is the need for elimination of wasted space. Many of today’s tenants spend 90% or more of their time in 40% of their total space at home and they are overpaying for that space.
Some of today’s developers who recognize this trend are designing and planning buildings more efficiently and intelligently and making big profits.
Slate property’s Martin Nussbaum points out that “cutting space shouldn’t be a problem as most tenants these days don’t focus on bedroom size. For them it’s the quality that matters”.
Chris Bledsoe, Co Founder and CEO of Ollie, a residential and workspace designer is revolutionizing the living experience and workspaces for renters. According to Chris“ every square foot of unnecessary space that Ollie eliminates becomes $50/ year of incremental rent savings for its tenants, incremental services and amenities for its tenants or incremental profit for its real estate partners.
Technology such as integrated climate control, solar energy panels and keyless access are being looked at for buildings being built now and being planned for future buildings.
Today many developers include a wide variety of amenities for the diverse needs of their tenants such as playrooms for kids, a gym, extra storage, outdoor space and lounges.
An example of this new approach to the national trend of smaller urban housing is developer Monadnock’s Carmel Place, a 55 unit complex located in the Kips Bay neighborhood of Manhattan. Apartment sizes range from 260 square feet to 360 square feet. The apartments feature 8 foot windows, 10 foot high ceilings, with interiors as well as services and amenities designed by Chris Bledsoe’s company Ollie.
Rents at Carmel Place range from $2,445.00 to $3,200/ Mo and offer a wide range of time and money saving amenities, even butler service for customized errands.
If you are planning to sell your property in Brooklyn, New York whether it is a residential or commercial property, mixed use, multi family, vacant land, co op, condominium or development opportunity call us. You will be very happy that you did.
Accord Real Estate Group