Rose Associates Named Leasing and Managing Agent for 88 Leonard Street in TriBeCa
Posted On October 31, 2016
Rose Associates, the New York-based full-service real estate firm, announced today that it has been named the exclusive leasing and managing agent at 88 Leonard Street for the property’s new owner, Jamestown, L.P. The luxury rental property, located in Manhattan’s TriBeCa neighborhood, offers 352 apartments in studio, one-, two- and three-bedroom configurations.
An asset recently acquired by Jamestown, 88 Leonard Street offers a garden terrace with a whirlpool hot tub and outdoor fireplace, a landscaped rooftop sun deck, a residents’ lounge with billiards and televisions, a 24-hour attended lobby, on-site valet services, along with available bicycle and resident storage, and parking.
Rose handled the initial lease-up of the property and provided property management on behalf of the original owner. “It’s very nice to return to this beautiful building as managing and leasing agent, and we’re equally excited about the opportunity to build a relationship with Jamestown,” said Mitchell S. Gelberg, senior managing director at Rose Associates.
The 21-story tower was constructed in 2007 using Liberty Bond financing. The Liberty Bond program was enacted by Congress in the wake of 9/11 to help revitalize Lower Manhattan. When the program launched in 2002, occupancy in the area had plummeted to 65%, but within two years the Liberty Bond program encouraged new development and helped to boost occupancy to over 95%. Rose oversees nearly half of the Liberty Bond projects that were ultimately built. “88 Leonard Street speaks to the success of the Liberty Bond program, and we are pleased to have been an active part of the rejuvenation of Lower Manhattan,” added Gelberg.
Rose is currently leasing market rate apartments, with studios starting at $3,010 per month and three-bedrooms starting at $8,950. The property is a short walk from the N, Q, R, J and Z subway lines. Additional information is available by calling (646) 893-2483 or visiting www.rosenyc.com.
Jamestown, L.P. was established in 1983 as an investment and management company focused on income-producing real estate in the United States. Over the last 33 years, Jamestown has expanded into a national, vertically integrated real estate operator with approximately $11.8 billion of assets under management as of June 30, 2016. Jamestown’s capabilities include: acquisitions, capital markets, property management, asset management, retail leasing, design, sustainability and risk management. Jamestown has headquarters in Atlanta, GA, and New York, NY and additional offices in Boston, MA and San Francisco, CA. For more information, visit www.jamestownlp.com.
About Rose Associates, Inc.
Based in New York, Rose Associates is a developer, owner and operator of premium residential properties. From planning a new development to managing day-to-day property operations, the Rose 360 Platform offers a full range of services designed to maximize the value of real estate. The firm oversees more than 26,000 units across New York, with approximately $2 billion in projects under development. Rose recently opened the historic skyscraper 70 Pine Street, which the firm is transforming into a luxury rental property with 644 residential units, 132 extend-stay apartments and a destination restaurant/lounge occupying the top four floors.