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Residential

The Skyʼs the limit at Moinianʼs newest luxury rental tower

Sky, a new luxury rental tower on the western end of Hell’s Kitchen, is an anomaly in an increasingly homogeneous high-end rental market.

For one, it owns a convoluted claim to fame. It is the largest single tower rental building in New York City, not by height (it’s 680 feet tall, 190 feet shorter than New York by Gehry in Lower Manhattan), but by the number of apartments that it contains.

Also, it is built with the goal of making residents spend as much time indoors as possible, an oddity in a city where a property’s desirability is measured by its proximity to parks, museums and subway stations.

Sky,  a rental in Hell's Kitchen that boasts the most number of rentals - 1,175.
Sky, a rental in Hell’s Kitchen that boasts the most number of rentals – 1,175.

Natasha Vardi, the senior vice president of residential properties for developer the Moinian Group explained, “Not only was it important to visually look appealing, but to also have all the conveniences that a tenant honestly and truly needs. So they never feel like they need to leave the building if they don’t want to.

“Once a tenant moves in, we want them feel that even though they’re living in a residential property, they can have the conveniences of a hotel, to a certain degree.ˮ

Its unique attributes, and its promise of hassle-free indoor living, have translated to a strong first week for its leasing office, which the company claims has been handling a “heavy outpouring of traffic and deals.”

This activity may go on for a while, since the team behind the building, particularly the marketing and leasing agents from Douglas Elliman and Bold New York, has an unprecedented amount of living spaces to move.

The property, which is located at 605 West 42nd Street, has 1,175 units on 71 stories.

The property, which contains a mix of studios to three bedroom units, was created as a “luxurious oasis for discerning urban professionals,” according to a press release.

A rendering of the lobby at Sky.
A rendering of the lobby at Sky.

Studios cost at least $3,000 per month, with the price doubling to $6,175 for a two-bedroom.

The building was designed by the Rockwell Group, which previously worked on hotels such as The Cosmopolitan of Las Vegas, W Union Square and the Greenwich Hotel. The company’s involvement produced a look that resembles a hotel rather than a rental building that’s a short walk away from Times Square.

This applies inside and outside the apartment units. A tenant first comes in contact with hotel-style living at a motor court out front that facilitates drop-offs. The lobby, meanwhile, contains a marble desk located underneath lights that resemble a cluster of vent hoses. Vardi said that the area will eventually have curated artwork.

Indoors, tenants come home to either “dusk” or “dawn” (walnut and oak) finishes, with 215 of them having the option of looking out at the city on a balcony. There are also lifestyle and tech concierge on call that troubleshoot the life of tenants.

Moinian, which spent $850 million on the development, seemed intent on making the job of its emissaries a lot easier.

“For us, it was very important to create a property that not only is in line with the market, but far surpasses the marketplace,” said Vardi.

“We really wanted to create a property that surpasses every level of the renter at this point. Because we realize that renters have evolved. And as developers, (we) need to continuously evolve and give renters not just what they expect, but ten steps above what they expect.”

The pool at Sky
The pool at Sky

The result was a building that the company unabashedly declared “Manhattan’s ultimate vertical neighborhood.”

Moinian aims to facilitate this neighborly atmosphere through its amenities, which occupy about 70,000 s/f of the property.

“If you made a list of everything that every other building in this city has and you added them all together, that’s what you have here,” said Clifford Finn, an executive vice president from Douglas Elliman Development Marketing.

Sky has three swimming pools, a spa, an athletic club, a regulation size basketball court, a kids’ club and a café that serves free breakfast to tenants.

“At the end of the day, we want to create a neighborhood. Vertical neighborhoods are very important to us, so even though you’re living in Manhattan, you still have opportunities to hang out with other tenants in the building to network and make friends. The more community that’s created, the happier tenant ends up being,” Vardi said.

Moinian topped out the building last December, with $550 million for the construction coming from a deal with Bank of China. Tenants move in this September.

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