Developers of large rental buildings have stuck to a formula over the past several years: Keep apartments small; go big on amenities. Now, with a surge of rentals coming to market, some developers are pushing this formula to the max, tweaking apartment sizes and piling on the perks.
More than 13,000 new rental apartments are expected to open their doors in Manhattan, Brooklyn and Queens this year, according to Citi Habitats, one of the city’s largest rental brokerage firms. In Manhattan, the anticipated 4,900 apartments in 34 new rental developments represent a 25 percent increase from the 2009 peak, when 3,918 rental units opened for leasing. [NYT]