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As of today, studios, 1 and 2 bedroom apartments are available for rent starting at $2,246 for studios. Studios with a terrace start at $2,681 which is $1,100 more than the rent of the average 2 bedroom apartment in the area.
Rents go as high as $3,758 for a 2 bedroom, 2 bathroom apartment with an oval-shaped balcony. In case you’re wondering, that’s $2,200 MORE than the median price of a 2 bedroom unit in Mott Haven and surrounding areas which is roughly at $1,550.
Located on E 135th Street directly across from the Major Deegan Expressway (like right on top of the highway) is the South Bronx’s first luxury high rise development: The Arches.
The two 25-story towers, which can be seen from all along 135th Street in Manhattan and down the Grand Concourse in The Bronx, will contain over 450 units once completed but the first tower is now available for leasing.
I walk by the building several times a week. There is absolutely nothing luxury about the area or neighborhood. Even the area across the bridge in Manhattan aren't ****. Doesn't matter how nice your building is and all the services it offers if you can't even enjoy a walk in the neighborhood or have decent businesses around you.
That's quite an asking price. I'm skeptical that they'll be able to get that amount with anywhere even close to full occupancy, but more market rate new construction is generally a good thing and that's a lot of units coming up.
Yea, having the Major Deegan there is always going to be kind of rough. They'd need to remove or underground it for this to really kick off.
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