The zoning laws in NYC only allow apartments to be constructed of apartments of a minimum of 400 sqft but thanks to an initiative started under Mayor Bloomberg and continued under the current Mayor we have units in this building coming to the market this summer in the size of 260 to 360 sqft. The rental price will be $2000-3000 per month.
The apartments use efficient design to maximize the small spaces. The City hopes that these small spaces will make Manhattan living more affordable for more people and also take some of the pressure off of large apartment rentals. Often roommates will divide up a larger apartment thus driving up the price for larger apartments and putting pressure on families. So perhaps this building which is prefabricated and assembled offsite will help to relieve some of the affordability crisis that we are having. The building including electrical, and walls is fabricated offsite and then assembled just like Atlantic Yards in Brooklyln.