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Bowery Gentrification Enters Final Phase With $20,000 Rentals

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By now we've become well acquainted with our little Deuce Coop, aka 2 Cooper Square. The bricked-up luxury rental building has been growing at the corner of Bowery and East 4th Street for what feels like an eternity, and the rollout of the apartments has been equally drawn out. But today the Wall Street Journal adds some new details to the discussion. Like, for example, that the Atlantic Development Group originally envisioned the building as a magnet for NYU and Cooper Union students, and only fancied up the design once the Bowery started getting glitzy. Smart move? Well, already 21 of its 144 units are rented, and here's the whopper: three-bedroom apartments run as high as $20,000 per month. If the Javier Bardems and Clive Owens of the world really are paying that much, it looks like Bowery 2.0 has become Bowery 3.0. But what about those poor college kids?

Atlantic also built West Chelsea's Port 10?the gay building!?where rents for a one-bedroom start at $3,000/month. Still a pretty penny for rentals over on Tenth Avenue near the Hudson Yards wasteland, and this time the targeted crowd is "recent college grads." Since when did rooftop movie screens replace severe loan debts as the recent college graduate's must-have?
· Developer Tests East Village, Chelsea [WSJ]

2 Cooper Square

2 Cooper Square, New York, NY 10003 Visit Website