Loft-style living is nothing new in New York City, but what was once the mark of a poor artist has become a sign of a luxury life.
Despite recent interest in micro-apartments, in the last four or five years, buyers and renters have also shown an interest in more open layouts, according to Eric Benaim, CEO of real estate groupModern Spaces. And it’s a trend that he sees continuing in the local real estate market.
As a result, new residential construction is giving apartment seekers what they want with details such as open floor plans, casement windows, high ceilings, reclaimed looking floors, subway tile, and an overall “industrial style look,” Benaim said.
Long Island City is one area that has taken to this trend, including The Jackson, a new condominium that opened in April. The trend can also be seen in Brooklyn and other parts of Queens.
Queens Pointe is a 144-unit project located at 90-02 Queens Blvd. in Elmhurst, and the former site of St. John’s Hospital. The building consists of loft-style apartment with high ceilings and large windows.
Like lofts in SoHo and Tribeca, that were converted from actual industrial spaces, Modern Spaces is also transforming an old schoolhouse on the Lower East Side into loft-like apartments.
It’s not just the upper end of buyers who tend to be attracted these loft spaces, according to Benaim.
“You definitely get a premium because of the [higher ceilings],” he said.
But “the older generation don’t really get it,” when it comes to the style, he added.
The Upper West Side is one of the last neighborhoods known for its loft living, but this pre-war apartment, listed for $4,250,000, incorporates that style with its architectural details. These features include 16-foot ceilings and a 600-square-foot great room, expansive windows, and textures and woods throughout the four-bedroom condo.
Described as a “quintessential” Tribeca loft, this home 1-bedroom, 2-bathroom home features 10-foot ceilings, an expansive exposed brick wall and hardwood floors throughout. The 66-foot long living area of the loft “can have a myriad of layouts,” including another sleeping area. Unlike lofts in this neighborhood from decades ago, this one, listed for 2,249,000, comes with a 24-hour doorman, roof deck, bike room, gym, lounge and children's playroom.
Along with Tribeca, Soho is known for its loft spaces. This rental has been renovated, but still includes its original iron columns. The full-floor loft features a 2,500-square-foot layout and keyed elevator entrance. Details include exposed brick, hardwood floors and an open chef's kitchen. This loft is offered furnished for four to 12 months (or longer) for $14,500/month, or unfurnished for $16,500/month.
This new project in Dumbo, Brooklyn is a warehouse conversion into 74 apartments. These homes, ranging from two bedrooms to penthouses, include loft details, such as casement windows. The building also showcases the original glass plate factory with its double-height lobby. The penthouses also feature oversized kitchens and multi-level terraces.