A new 26-story luxury rental development in Manhattan, Anagram Columbus Circle, has reached the halfway mark in terms of occupancy just six months after opening for leasing. Situated at 1 W. 60th St., at the intersection of West 60th Street and Broadway, and in close proximity to Central Park, the upscale property boasts monthly rents reaching as high as $26,000. Global Holdings, the developer responsible for other prestigious residential projects in New York such as 15 Central Park West, has reported that Anagram Columbus Circle has drawn residents not only from various parts of the United States but also from overseas.
Leasing commenced in July, with a Global Holdings spokesperson stating to CoStar News that move-ins are currently underway, and all amenities are expected to be fully completed by spring. The rental units at Anagram Columbus Circle range from $4,660 for a studio to $26,750 for a four-bedroom unit, according to the spokesperson. Eyal Ofer, Chairman of Global Holdings, emphasized the sustained demand for premium rentals, citing the success of their previous projects like 15 Central Park West, Greenwich Lane, and 520 Park. The developer’s extensive portfolio spans over 10 million square feet of real estate, encompassing more than 120 properties and over 1,500 hotel rooms.
Anagram Columbus Circle features 123 residences, including three penthouses situated at the top of the building. Designed by INC Architecture & Design, the property is said to offer condo-level design and boasts 13,000 square feet of amenity space. The leasing success of Anagram Columbus Circle coincides with a CoStar analysis indicating a 2.9% vacancy rate in Manhattan’s Upper West Side, where the property is located. This vacancy rate remains near historic lows, making it one of the lowest among U.S. neighborhoods with at least 20,000 units. With asking rents of $4,950 per unit, the Upper West Side market is noted for its high prices within the New York metropolitan area. The low vacancy rate has provided landlords with the opportunity to push rents higher, according to the report.
Photo via Anagram