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27-Story Tower, With Focus On Small Studios, Planned For Court Square

Watermark Court Square. Source: Twining Properties

Watermark Court Square. Source: Twining Properties

Jan. 6, 2016 By Jackie Strawbridge

A 27-story residential tower rising in Court Square will include a significant portion of small studios meant to cater to young professionals.

Watermark Court Square, located at 44th Drive near Jackson Avenue, will include 168 units with 40 percent studios, 40 percent one-bedrooms and 20 percent two-bedrooms.

The studios will be 400-square-feet, compared to developer Twining Property’s standard studio size of 450-square-feet, according to Alex Twining. One-bedrooms range from 600-square-feet to 820-square-feet, and two-bedrooms range from 950-square-feet to 1,100-square-feet.

Twining Property’s goal is to offer smaller – and therefore cheaper – units than standard, plus several shared amenities, in order to attract young professionals. Twining said this setup is consistent with what he has observed in Long Island City, adding that Watermark is catering to the prevalence of single renters in Court Square.

“Overall, the percentage of space given to amenities is going up as the square footage actually of the units is going down, and that’s not particular just to us,” he said. “More and more people want other places to hang out to mix and mingle with other folks living in the building.”

Watermark’s amenities include a rooftop terrace, garden, lounge, café and fitness center.

Twining said it is too early to define rents at the Watermark Court Square, but said they will likely be comparable to those at the Pearson Court Square.

Available units at the Pearson are listed online as roughly $2,100 per month for a studio, $2,500 for a one-bedroom and $3,300 for a two-bedroom.

Watermark Court Square is currently under construction with occupancy expected to open in mid-2017, Twining said.

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MRLIC

Even most retirees leave here for warmer climates. Now with these prices and the brutal cold we have had the past few years, it seems to me there is no benefit to staying in NYC not to mention one of the worst leadership in City & state Govt just about anywhere. Let’s not forget the terrible corrupt Politicians either.

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Eugene Reeg

I would love to move back to NY but not at these prices which hurts the NYC economy all of us city retirees move out of state and spend our retirement income in other states. because we can’t afford to stay.

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rikki

maybe we should change our tactics……..instead of calling it affordable housing lets call it housing for non luxury people.

lets stand up for non luxury, we dont need stainless steel appliances sub zero freezers SEARS will do just fine

we dont need tiny hotel sized sinks we need BIG DEEP double sinks so we can put 2 days of dirty dishes mugs and pots and pans because we dont have a dishwasher.

we dont need a washer dryer when a bunch of them in the basement will do just fine, include 30 loads a month with our rent.

i dont need fitness center if you are so close and walking distance to the stores and subways…and most places deliver anyway.

id rather put the $500 month into my IRA or401K…

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MRLIC

Young professionals means single young people with BUCKS!!!!!!!!! Older people they don’t want I guess. Maybe if the older [people had $$$$ they would take them. Just another LUXURY Building and NO affordable housing which is needed badly.

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Hmm

Where’s the affordable housing requirement? At these sizes the subsidized prices might actually make sense #tinyhouses.
I lived in a 300 Sq ft studio once. But it was only 1700 a month and located in Manhattan. I had a doorman and was in a good neighborhood too.

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