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Long Island City’s first foray into co-living preps for renters

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At ALTA LIC, traditional rentals and co-living suites are both on offer

Paperfarm Inc.

One of the more intriguing new projects to join Long Island City’s booming residential market is ALTA LIC, developed by Simon Baron Development and Quadrum Global. It’s massive, for one thing—there are 467 rentals in the 43-story building—but it also has a different strategy in mind for those apartments. While the bulk of the units will be traditional rentals, another chunk will be co-living units managed by Ollie, the same “all-inclusive living” firm behind the amenity programs at Carmel Place, the city’s first micro-unit building.

The developers are gearing up to launch leasing this spring, and as that gets closer, they’re revealing a bit more about those apartments—specifically, how much they’ll cost. A traditional studio will rent from $2,375/month—which is just under the median rent for the neighborhood these days—with one-bedrooms going from $2,799/month, and two-bedrooms leaping to $4,025/month.

In the co-living suites, rents will be calculated slightly differently: Per the developers, “two-bedroom microsuites start at $3,224 per month (net), with coliving rents starting from $1,376 per month.” Those suites also come with the full Ollie package, i.e. a spate of hotel-like amenities like housekeeping, “premium TV programming,” and provided Malin + Goetz toiletries.

Paperfarm Inc.

What those units do have in common is access to a bunch of swanky amenities, including—but not limited to—an outdoor movie theater, an indoor pool, a yoga studio, a coworking space, and “the most comprehensive pet amenities and services in all of New York City,” apparently.

The building was designed by Stephen B. Jacobs Group; Andre Kikoski, the firm working on Lenny Kravitz’s Noho condo, is on the interiors. Rentals will hit the market sometime in April.