Tech firms lead sublease charge into Manhattan’s office market
Tech firms are racing to upgrade New York offices on the cheap to accommodate growth, taking advantage of high-quality sublets from bigger companies that were forced by the pandemic to rethink their office needs They’re taking advantage of sublets that averaged $58.94 per square foot in the third quarter, compared with $79.85 for direct leases, according to Savills. The spread between the two is hovering at about 23.6 percent, slightly below the four-year average of 26.2 percent. Another advantage: most sublets are already built out, at a time when supply chain bottlenecks and the labor shortages could lengthen the usual…
Date 2021-12-10
Author Akiko Matsuda
Leasing launches at SVEN, eco-friendly LIC tower with customizable crown
One of the benefits of outer-borough apartments are the views of the iconic Manhattan skyline, but Long Island City is on the road to a dramatic skyline of its own. The gracefully curved Sven is a new entrant making a statement with both its soaring height and eye-catching crown. Details on a lottery for 288 rent-stabilized units were teased earlier this summer, and The Durst Organization has launched leasing on the market-rate units Current availabilities posted on the building's official website start at $2,922/month for studios, $3,642/month for one-beds, $5,545/month for two-beds, and $6,048/month for three-beds. All prices are net…
Author City Realty
LIC tower giving residents chance to light up night
UPDATED Nov. 22, 2021, 3:54 p.m.: Now that’s a night light Renters at the new Sven tower in Long Island City will have the ability to control what they see when they peer out on Manhattan at night thanks to an app that lets them change the color of the skyline with the touch of a button. According to the New York Post, potential residents at the Durst Organization property are being wooed with a membership to Spireworks, a mobile app that lets users control the glow atop iconic, Durst-owned New York skyscrapers including the so-called H&M building at 151…
Author The Real Deal
New Queens apartment allows tenants to control the colors of Manhattan skyscrapers
A new apartment complex in Long Island City comes with one unique perk — the ability to change the colors of Manhattan skyscrapers The 958-unit building — called Sven — is slated to be the second-tallest skyscraper in Queens. Amenities include luxury standards like a terrace, swimming pool and fitness center, but one other perk stands out: Access to the mobile app Spireworks. Sven residents will be able to light up the New York City skyline with just a tap of their finger, according to a press release from The Durst Organization, which owns the building. With the app, tenants…
Author PIX 11
New tower gives residents app to controls NYC spire colors
Residents of a new Queens rental can soon light up the city that never sleeps Sven, a 958-unit Durst Organization property in Long Island City — where 288 apartments are income-restricted — will offer a dazzling amenity far beyond the typical luxury-market trappings of a screening room, a gym and a pool. When leasing soft-launches on Monday, Sven will become the first building in New York where residents can illuminate the tippy tops of city towers — such as the 300-foot spire at One Bryant Park in Midtown — with just the tap of a finger. Every tenant will receive…
Author Tales Buzz