AvalonBay Tower (Jacob Wirth's) | 45 Stuart Street | Downtown

Homage to the past.

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AvalonBay released their third quarter earnings on Monday. Looks like this building is filling up and rents are dropping:

Last quarter (as of 6/30/15): 45.7% complete, 37.2% leased, 14.6% occupied. Average rents of $4025.
This quarter (as of 9/30/15): 83.4% complete, 55.0% leased, 47.7% occupied. Average rents of $3845.

Completion is still expected this quarter (Q4 2015) but the first quarter of fully stabilized operations has been pushed back to Q3 2016 from Q2 2016.
 
Homage to the red light district?

Don't know what time the photos were taken, but looks like a lot of empty units. Maybe they'll start hourly rentals.
 
stellarfun said:
Homage to the red light district?

Don't know what time the photos were taken, but looks like a lot of empty units. Maybe they'll start hourly rentals.
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Agree looks empty...although the Devonshire is old and always looks empty as well.

Another building that always looks empty is the newest white north point building...is it all a sham? Are all these brand new buildings empty?
 
617 said:
Agree looks empty...although the Devonshire is old and always looks empty as well.

Another building that always looks empty is the newest white north point building...is it all a sham? Are all these brand new buildings empty?
Click to expand...

Certainly for some fraction of the units in these "luxury" buildings, these are pied-à-terres, second or even third residences. The renters are not always en résidence.
 
The last time I checked the Twenty/20 Building at NorthPoint (large white building) was at 30% occupancy.
 
Tango said:
The last time I checked the Twenty/20 Building at NorthPoint (large white building) was at 30% occupancy.
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Twenty|20 was at 40% before their holiday party for S+T/Twenty|20 residents. But it was slow going. Zinc out rented them in the first months, and Twenty|20's response to reach pricing was turning on/off various rooms' lights nightly to create the impression of occupation. Finally, in October they cut prices (I signed up for everything when they opened so I could tour - but now I tutor some folks there so I get regular "status updates").
 
Gotta say I like this lobby and its blue light contrasting against the neighboring masonry.

39736340301_31f5bfb947_b.jpg
 
It's not always blue. Sometimes I think its too jarring for my taste and other times I like it. At night its fairly cool
 
beck4537 said:
www.universalhub.com

The new Jacob Wirth will have four apartments on top

The Zoning Board of Appeal today gave its blessing to a plan by City Realty to convert some fire-ravaged living space into four apartments above the old Jacob Wirth that it's now converting into a new Jacob Wirth on Stuart Street. Read more.
www.universalhub.com www.universalhub.com
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Wait, wut?????? Jacob Wirth is going to come back???????

I had no idea - - this is great!!!!!!!

www.timeout.com

Jacob Wirth Restaurant reopening in 2024

The historic German restaurant in the Theater District reportedly coming back
www.timeout.com www.timeout.com
 
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