Name: 456 Washington
Address: 456 Washington Street
Architect: BKSK Architects
Size: 84 apartments
Prices: from $8,895 per month to $50,000 per month
The affordable housing lottery for Related's rental at 456 Washington Street launched several months ago, opening up 22 units in the building for as little as $800 per month. And now, leasing has begun for the remaining market-rate units, which are quite a bit pricier than their affordable counterparts. The first batch of units to become available range from a $8,895/month two-bedroom to a 3,500-square-foot, five-bedroom pad asking a whopping $50,000/month. (There are also studios and one-bedroom units that haven't begun leasing yet.)
Developer Related has pulled out all the stops with this particular building. Apartments have plenty of plush touches, including custom closets, high-end kitchen appliances, and private terraces (on the larger pads, anyway). Building amenities are similarly over-the-top: Rockwell Group designed the shared spaces (including a library, a kids' playroom, and a lounge); there's a fitness center curated by Equinox; and there's a communal garden and interior courtyard as well. The building will welcome its first residents as soon as May 1.
As a Wall Street Journal article noted last month, the building is one that benefited from the 421-a tax program, which expired earlier this month. That explains the somewhat improbable disparity in the building's highest and lowest rents—it's not often you hear of a place renting $50,000 and $800 apartments, but here we are.