Leasing Underway at Archstone Clinton, Two Distinctive
High-Rise Residences that Will Also House Theaters,
Retail and Public Spaces
Spectacular Two-Block Community Comprising 627 Brand-new Luxury Rental Apartments in Manhattan is Reenergizing a Once Deserted Stretch of Tenth Avenue
New York — February 9, 2007 — A once deserted West Side corridor is about to begin its transition into one of New York City’s most exciting residential neighborhoods with the opening of Archstone Clinton, a spectacular high-rise luxury apartment community that stretches from 51st Street to 53rd Street along the westerly blockfronts of Tenth Avenue. With leasing now officially underway and February occupancy planned for the first units, the ground-up development of luxury rental apartments in Manhattan, comprising two distinctive 24-story buildings, is expected to reenergize the Clinton District with extraordinary residences and an array of attractions.
In addition to 627 magnificent New York City studio, one- and two-bedroom apartment rentals, Archstone Clinton will also include 23,000 square feet of retail space envisioned for the likes of a restaurant, a café, a wine and tapas bar, and a bank as well as an abundance of public spaces designed for two non-profit theaters, The Oasis Community Garden, a park, and two landscaped block-through arcades, helping to integrate the development with the neighborhood.
Archstone Clinton is a joint venture development of Archstone-Smith, one of the nation's largest and most-respected apartment companies, and The Dermot Company, a leading luxury residential development company that was chosen in 2003 by the New York City Department of Housing Preservation and Development to redevelop the land.
“Clinton is at the doorstep of everything that makes New York the greatest city in the world,” says Daniel Doern, vice president of development at Archstone-Smith. “It’s close to the Theater District, 9th Avenue restaurants, Times Square, Lincoln Center and The Shops at Columbus Circle, and also has the added benefit of towering over many low-rise buildings, which offers residents unparalleled views of Midtown Manhattan and the Hudson River.”
Rents at Archstone Clinton start at $2,690. The leasing center, located in the community lobby at 510 West 52nd Street, is open 7 days a week from 9 a.m. to 6 p.m., Monday, Tuesday, Thursday and Friday, 9 a.m. to 7 p.m. on Wednesday, 10 a.m. to 5 p.m. on Saturday and 11 a.m. to 5 p.m. on Sunday. No appointments are ever necessary. Renters in good credit standing are not required to place a security deposit, and the approval process takes just minutes.
In addition to spectacular vistas of the Hudson River and Midtown Manhattan, most apartments are equipped with top-of-the-line amenities and features, including granite countertops, stainless steel appliances, maple or cherry custom cabinetry, hardwood floors, ceramic tile bathrooms, cable TV and high-speed Internet connections, spacious closets, floor-to-ceiling windows, in-unit washers and dryers, and in some apartments, private balconies and patios.
Additionally, Archstone Clinton offers residents a variety of beautifully designed ground-level and landscaped roof gardens; a library and lounges equipped with kitchens and wireless Internet access; a media room with a state-of-the art audio/visual system; personal storage bins; and two fitness centers that offer high-end cardio theater equipment and a yoga/meditation room.
Archstone Clinton’s impeccable standard of service means residents will enjoy 24-hour doorman and concierge service. An on-site attended parking garage and valet that offers dry cleaning, laundry, and apartment cleaning services are also available. Unique features, including web-enabled laundry machines on select floors that send status reports via email or text messaging, make living easy for residents.
At Archstone Clinton, convenience and customer service are the top priorities. As with every Archstone community, residents of Archstone Clinton enjoy the Archstone Seal of ServiceTM, which includes:
Exclusive access to myArchstone.com. Through this resident-only web site, residents can pay rent online, submit and track service requests, take part in periodic satisfaction surveys and more.
100% Move-in Satisfaction Guarantee. If not completely satisfied for any reason, residents can move out of their apartment without penalty within the first 30 days of their lease, no questions asked.
1-Day Service Guarantee. All service requests will be responded to within 24 hours, guaranteed.
The Relocation Guarantee. If a resident needs to move, for any reason, Archstone will help them find another Archstone-Smith apartment.
The Customer Service Connection. The first national call center in apartments is available for residents to share their comments, concerns and ideas.
Visit /Apartments/New_York/New_York_City/Archstone_Clinton to view information about this community’s ideal location, large floor plans and a full list of features and amenities.
Designed by Fox & Fowle Architects, Archstone Clinton incorporates “green principles” as defined by The Leadership in Energy and Environmental Design (LEED) Green Building Rating System™. The design maximizes natural light and views, uses locally available building materials, supplements high performance HVAC systems with turbine-generated power produced on-site, and provides superior indoor air quality and efficiency through the use of no- and low-VOC materials.
Archstone-Smith is the largest public owner of rental apartments in Manhattan and now owns 13 apartment communities in the greater New York City area representing 4,115 units, including units under construction.
ABOUT ARCHSTONE-SMITH
Archstone-Smith (NYSE: ASN), an S&P 500 company, is a recognized leader in apartment investment and operations. With a current total market capitalization of $21.9 billion, the company’s portfolio is concentrated in many of the most desirable neighborhoods in the Washington, D.C. metropolitan area, Southern California, the New York City metropolitan area, the San Francisco Bay Area, Boston, Seattle, Southeast Florida and Chicago. The company continually upgrades the quality of its portfolio through the selective sale of assets, using proceeds to fund investments in assets with even better growth prospects. Through its two brands, Archstone and Charles E. Smith, Archstone-Smith strives to provide great apartments and great service to its customers – backed by unconditional service guarantees. As of December 31, 2006, Archstone-Smith owned or had an ownership position in 348 communities, representing 88,011 units, including units under construction.
ABOUT THE DERMOT COMPANY
The Dermot Company is a leading developer of residential properties primarily located in the five boroughs of New York City and has evolved into a fully integrated real estate company employing nearly 200 real estate professionals in investment, finance, management and development. Dermot currently manages over $1 billion in assets and owns or holds investments in more than 5,000 multifamily units. In addition to developing Archstone Clinton, Dermot is converting the Williamsburg Savings Bank Building in Downtown Brooklyn into luxury condominiums called One Hanson Place and redeveloping the Queens Family Courthouse in Jamaica, Queens to multi-family residences.
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