Something New York Doesn’t Have Enough of: Serviced Apartments


When Joanna Lau and her husband signed a gross sales contract for a two-bedroom condominium in the course of the conversion of a historic TriBeCa constructing final yr, Ms. Lau, 31, figured that her days as a New York renter would quickly come to an finish.

She was mistaken. After promoting furnishings, jettisoning outdated kitchenware and packing up her rental final July, she realized her new dwelling may not be prepared for greater than yr.

“I used to be actually shocked,” stated Ms. Lau, who purchased a unit at 108 Leonard, an 1898 workplace tower often known as the Clock Tower Constructing. “Then everybody I talked to was like, ‘That’s typical of recent growth.’ They really have a clause in there that they might take years after the anticipated completion date — I believe till the top of 2020.”

As she hadn’t ready for this eventuality, Ms. Lau had a matter of weeks to safe a furnished rental for an indefinite variety of months. She and her husband didn’t wish to signal a yearlong lease, purchase furnishings and housewares, then take care of the fallout of leaving early. They needed to run via a collection of choices earlier than lastly discovering one thing that suited them.

She contacted quite a lot of motels, hoping that month-to-month charges would possibly yield a major low cost, however with full-service perks like day by day housekeeping factored into the fee, the invoice got here to round $9,000 or $10,000 a month.

Ms. Lau, who labored as a dealer on Wall Avenue earlier than beginning JEMMA, a purse firm that makes useful luggage for skilled ladies, and her husband, who works in finance, have been trying to pay about half that.

Lodges additionally introduced one other drawback: Full kitchens have been uncommon.

“Often essentially the most yow will discover is a moist bar,” she stated. “And I like cooking — I wanted a kitchen. Consuming out day by day feels bizarre.”

Subsequent she seemed into Airbnb, however discovered long-term leases of complete residences to be costly, particularly for what was supplied. “Lots of people in New York try to do Airbnb as a job,” she stated. “However they’re additionally not educated within the hospitality trade, so that you come throughout issues like residences with no towels.”


$4,800 | Battery Park Metropolis

Occupation: Chief government and founding father of JEMMA, a direct-to-consumer model that makes luggage for working ladies, with compartments for laptops, toiletries, footwear and options like sleeves that let you slip the bag onto an prolonged suitcase deal with.
How she began it: “Once I was engaged on Wall Avenue I spotted there was an entire trade constructed round males’s work equipment — and ladies had nothing. It was at all times a trade-off between perform and looking out good. I wished it, myself.”
On New York’s restricted flexible-stay choices: “I’m from Singapore and have studied in London. I believed service residences have been one thing that existed all over the place. It was weird to me. In Europe there are a number of firms, you possibly can hire furnished areas for as little as every week.”
What she appears ahead to: Getting her golf golf equipment out of storage. Though Ms. Lau, who performed golf for New York College, admitted, “I don’t play an excessive amount of anymore.”

After touring one unit, Ms. Lau felt assured sufficient within the high quality of the area to pick a one-bedroom in Battery Park Metropolis based mostly on the images. At $4,800 a month, it was inside funds and a brief stroll to the brand new condominium. The constructing additionally had a 60-foot indoor lap pool, which Ms. Lau, who likes to swim, was enthusiastic about.

She and her husband moved in final summer season. Strolling into the house, they encountered yet one more shocking actual property scenario: The house had a surprising view of the Hudson River, which the itemizing hadn’t bothered to say.

“It turned out to have the very best view, which you couldn’t see in any of the images,” Ms. Lau stated. She was additionally delighted to find, upon transferring in, that the kitchen was not solely stocked with fundamentals like plates and cups, but additionally with baking dishes and wine glasses.

The décor, she stated, is comfy and pleasing, with out being too over-the-top — one thing she encountered quite a bit in gross sales galleries. “Our buddies have been actually impressed. I believe folks have been shocked that it really appears so good,” she stated.

And whereas she was relieved when the condominium developer confirmed in January that the brand new house can be prepared to maneuver into by mid-February, the rental detour labored out nicely in a variety of methods. Over the previous six months, it’s been potential to settle into the realm with out having to fret about establishing a brand new house. She has additionally loved the sojourn with a view — the brand new house doesn’t have one — and residing with a full slate of facilities, which gained’t be accomplished on the condominium constructing for a while.

“It was good to have the ability to swim right here,” Ms. Lau stated. “The brand new constructing does have a pool, but it surely gained’t be prepared for like six months” — or, fairly probably, longer. Six months was, in any case, the anticipated ready interval.



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