Even as the mercury slowly ebbs around the much of the country, one big multifamily selling point of summer 2020 continues to carry appeal. The new must-have amenity for many multifamily renters and purchasers this year is private outdoor space.
Private terraces and balconies are among the most highly-sought extras for the growing number of folks working from home and seeking fresh air for exercise and more. After all, how many among us can say we’ve not yet joined a Zoom confab from a balcony or patio?
Graham Post, senior architect at award-winning design firm Nelson Worldwide, is among those who believe outdoor amenities will mold the future of multifamily living. Residential amenities like sustainable community gardening, pet-friendly courtyards, trails and dog washes will have ongoing appeal to those desiring outdoor space. Offerings like rooftop amenity spaces, pools, fire pits, grills and outdoor dining areas will continue to gain favor.
As for private outdoor spaces, the pandemic has accelerated their importance, notes John Lewis, studio director, multifamily for Nelson Worldwide. “Private outdoor spaces have always been desired, but the pandemic has made them critical,” he says.
“It becomes the new third space – an oasis from work, an untraditional office, the local watering hole or even the gym . . . Today, residents want an elevated, furnished balcony on which to relax, unwind and entertain. It should seamlessly support those activities, created with outdoor food and beverage consumption in mind.”
MORE FOR YOU
Best of both worlds
The list of New York City’s new-development rental and condominiums offering the best of both outside worlds — private outdoor spaces combined with crowd-pleasing common-area outdoor spaces — continues to grow longer. Following is a partial roster of these offerings.
525 West 52nd Street
A 15,000-square-foot courtyard featuring landscaping and amenities spans the pair of towers that comprise this apartment development. The amenity deck offers multiple al fresco dining areas, grilling stations, bocce ball and shuffleboard courts and ping-pong. Additional lounge areas with natural grass can be found on the property’s rooftop.
When some alone time is required, the two-bedroom, two-bath luxury rental priced at $6,090 per month offers an expansive private terrace.
Bloom on Forty-Fifth
The neighborhood’s newest condominium, Bloom on Forty Fifth, is situated on the full blockfront between West 44th and 45th Sts. on 10th Ave. The modernist-inspired eight-story building serves up 92 residences, extending from studios to three-bedrooms, and also offers an approximately 8,000-square-foot park-like elevated terrace set between the north and south towers. In addition, Marvel Architects included private outdoor space in select homes. Pricing begins at $750,000 for studios.
“We find that owners utilize their private outdoor space as a way to relax and, pre-pandemic, to entertain,” says David Chang, sales director at Compass Development Marketing Group, the sales lead oat Bloom on Forty Fifth.
“Private outdoor space serves as an extension of owners’ homes and offers them a sense of retreat.”
The latest condominium to be offered in Prospect Park South, 567 Ocean offers close proximity to Brooklyn’s most expansive green space. It also delivers an exceptional amenities package and a great many layouts from which to choose. Many of these feature private outdoor space. On the market for $1,090,000 by MNS, a floor-through three-bedroom residence features an enormous terrace the width of the residence, as well as a private balcony off the master bedroom.
“Buyers want the option as often as possible to be outside in a particularly convenient way, and private outdoor space is the number one way to achieve that goal,” says Tamar Krasnow, vice president of new development at MNS. “[As] for the units we are currently pricing in buildings we are gearing up to launch, we are adding a premium [for private outdoor space]. And on units that are currently selling, there is less negotiability — if any — on units featuring private outdoor space.”
175 and 192 Spencer
The tree-lined, historic street in Bedford-Stuyvesant is the setting for the revamped, six-story 175 and 192 Spencer. The offering of 82 one- and two-bedroom residences allows for a nice variety of layouts.
Among the selection are several first-floor duplexes that offer private outdoor space. They include a two-bedroom duplex condominium marketed at $850,000 through MNS, which has a 421a tax abatement through 2036.