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.
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.
The units come with voice controlled shades and thermostat as part of their amenities. The building itself has an on-site full service cafe, children’s playroom, business center, gym and yoga room. There’s also a screening room for movies, library and lounge with fireplace, a game room, landscaped roof garden with grilling area, and an outdoor lounge with fire place.
Other services include 24 hour doorman, bike storage, laundry room, and cold storage for food deliveries.
Yes, this is full-on gentrification of the South Bronx.
In the country’s poorest congressional district where half are living at or below the poverty line, this is just vulgar. Meanwhile, on the other side of the highway, the tale of two cities continues. Half of residents are at the poverty line and receiving some form of public assistance.
The question remains whether or not they’ll be able to fill up all those apartments. Several luxury buildings completed in the past two years still aren’t rented at 100% occupancy.
Now with 450+ units about to hit the market and thousands more on the way in this terrible COVID-19 economy, who’s going to pay Manhattan prices to live in The Bronx without the Manhattan amenities?
Don’t get me wrong, I love The Bronx but you wouldn’t catch me paying Manhattan prices in my neighborhood.
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