As if the New York real estate market was not spiraling out of control in just about every neighborhood….the once dangerous and dilapidated corner of Avenue B (yes Avenue B!) between 5th and 6th will now be transformed into a luxury/doorman building complete with a landscaped roof deck, yoga and fitness center, and one bedrooms starting at $3,600/month!
For better or for worse, the neighborhood is changing quickly. Property values are on the rise and it appears the once tranquil and quieter part of the East Village is transforming into an upwardly mobile enclave for those recent college grads not quiet ready to make the jump to Murray Hill.
The building is being developed by Magnum Management, part of the Jared Kushner enterprise. His company made news last year upon the purchase of millions of dollars worth of property in the area. They have been gut-renovating buildings from the inside out and jacking up rents along the way.
Take a look at the building’s website here: Bloom62
Life + Real Estate + New York 