Real Estate Weekly
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Construction & Design Residential

Leasing underway at Manhattan micro-units, Carmel Place

New York City’s first micro-unit development, Carmel Place, has officially launched leasing.

The build contains 55 units measuring between 260 and 360 s/f developed by Monadnock Development following a city-sponsored design competition to test out micro dwellings.

According to the New York Times, 14 of the studios have been designated affordable and will rent for $950 per month to tenants who meet income restrictions, less than half of what will be charged for market-rate apartments.

CARMEL PLACE
CARMEL PLACE

The nine-story modular building at 335 East 27th Street also has eight homes designated for Veterans Affairs Supportive Housing (VASH).

The developer has announced a partnership with the Ollie brand from micro-housing specialist Stage 3 Properties, a Simon Baron Development portfolio company, to help renters with design and layout services to make the most out of their living space.

For an extra $100 a month, residents who join Ollie will also be able to use their “lifestyle-relevant services including housekeeping, WiFi, and weekly visits from a Hello Alfred home manager; access to “live-work-play” amenities at future Ollie properties; events curated by social concierge Magnises.ˮ

Residents will be able to choose between a variety of layouts outfitted by Ollie or unfurnished.

The building will have a virtual doorman, Juliet balconies, gym, resident lounge, outdoor terrace, laundry room and tenant/overhead storage, including bike storage.

Carmel Place is the winner of the New York City Department of Housing Preservation and Development’s adAPT NYC competition, a pilot program to develop a new housing model for New York’s growing small-household population. Monadnock, in collaboration with nARCHITECTS and marketing consultant Corcoran Sunshine, worked together to design, construct and create the ground-breaking design.

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