Urban landlords are increasingly offering unique incentives to attract buyers and tenants to their buildings, including rock ‘n’ roll rehearsal rooms, Imax theaters, bike repair stations, stargazing sessions, woodworking shops, greenhouses for growing herbs, and even dog yoga classes,
The New York Times reports. Dog yoga, which the developer Brodsky Organization is offering as a free perk to residents in 62 rental buildings in New York, helps dog owners assist their pets with different stretches.
Landlords are looking for other ways to lure tenants as the average square footage of their units decreases. Since the mid-1990s, the average apartment size has dropped from more than 1,000 square feet to about 900 square feet, according to Miller Samuel Real Estate Appraisers and Consultants. “Having these auxiliary spaces allows someone to think, ‘I may not have this giant living room, but I do have a climbing wall and basketball court downstairs,’” Collin Bond, an associate broker with real estate firm Triplemint, told the
Times.
The latest amenities are focused on experiences, developers say. For example, a 428-unit rental building in Queens, N.Y., known as ARC will offer standard options such as a gym, library, and golf simulator when it opens next month. At its other properties, ARC’s developer, Lightstone Group, has hired a “lifestyle director,” who plans to book rock bands and comedians for performances, as well as meet-and-greet neighbor activities. “It’s about a holistic lifestyle as opposed to just room and board,” Lightstone President Mitchell Hochberg told the
Times.
Source: “Dog Yoga and Electric Guitars: Amenities, at a New Level,” The New York Times (Sept. 15, 2017)
