New York Real Estate Journal

Monadnock enlists Stage 3 Properties to introduce Common at Carmel Place

New York, NY One of the city’s first micro-unit development, Carmel Place, has officially launched leasing. Developer Monadnock Development has enlisted micro-housing specialist Stage 3 Properties, a Simon Baron Development portfolio company, to introduce Common, a housing model. Common at Carmel Place reimagines the modern day rental apartment and brings a much needed sustainable solution to the city by delivering an all-inclusive living experience at accessible prices.

“When it comes to cosmopolitan living, Carmel Place has broken the mold by revolutionizing housing into something that is more practical, affordable and value-driven,” said Tobias Oriwol, project developer for Monadnock Development.

“Our inclusion of Common has further evolved Carmel Place, providing a thoughtful and attractive design that allows residents to maximize their space, while incorporating an unprecedented bundle of premium resident services that will set the standard for future small-housing in New York City.”

Located at 335 East 27-th St. in Kips Bay, the nine-story development makes up 55 units, 40% of which are set aside for affordable housing, with eight homes designated for Veterans Affairs Supportive Housing (VASH).

“Common seeks to over-deliver on expectations in every aspect of the rental experience,” said Christopher Bledsoe, Founding Partner of Stage 3 Properties. “We have spent several years thoroughly vetting each component of Common, meeting with hundreds of developers, landlords, institutional real estate investors, housing advocacy groups, zoning and land use experts, to name a few, to assist in satisfying all of these constituents. We are grateful to the Monadnock team for sharing this vision and bringing Common’s one-of-a-kind living experience to Carmel Place which we feel is a breakthrough in the real estate world.”

Common is built on four core components:

• Thoughtfully designed micro-units offering efficient studio or co-living layouts and options for multi-functional furniture including pieces by Resource Furniture

• Lifestyle-relevant services including housekeeping, WiFi, and weekly visits from a Hello Alfred home manager

• An all access pass to “live-work-play” amenities at future Common properties

• A sense of community, fostered in collaboration with social concierge Magnises with opportunities for engagement and networking ranging from monthly mixers, volunteer activities, lectures, weekend getaways, travel options and even seven members-only spaces, to name a few

Under Common’s lifestyle-relevant services through a multi-year partnership agreement, Hello Alfred and Common are paired together as exclusive partners in the micro-housing category. Carmel Place residents will enjoy a weekly clean which includes linens changed, beds made, groceries stocked and laundry and/or dry cleaning dropped off and/or returned.

Homes at Carmel Place range in size from 260 to 360 square feet, featuring 9’6’’ foot ceilings. Residents will be able to choose between a variety of layouts outfitted by Common or unfurnished.

Onsite necessities and amenities at Carmel Place were designed to accommodate the busy and fast-paced city life, including a virtual doorman, Juliet balconies, gym, resident lounge, outdoor terrace, laundry room and tenant/overhead storage, including bike storage. Any packages residents receive will be handled by the virtual doorman system, where deliveries are left in the secured package room for residents to retrieve at their convenience.

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.

Strategically located in Manhattan’s Kips Bay neighborhood, residents at Carmel Place have easy access to an endless variety of dining, entertainment and transportation options. Home to rare amenities such as Kips Bay Plaza, a commercial strip mall, and the Dover Street Market, a multi-level retail fashion and concept store, Kips Bay is also situated near the world’s most prestigious medical establishments and institutional buildings. Its east side location also allows residents a quick escape from the chaotic city to the water front, Stuyvesant Cove Park and East River Park.


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