Rainer Court in Midtown is still deep in renovation territory, but management has already unveiled a pre-leasing website for its 36 apartments, all of which will be market rate. Several details have changed since our last update, so a quick refresher is in order:
· ETA has moved up to Summer 2015
· Projected rent: $750-$1,300 for 1-2 bedrooms
· 1,800 SqFt of retail on the ground floor
Sneaking in some retail space is always fun, but the rendering is the most exciting part about this update. Seeing the building without those awful vinyl windows is good; seeing the top floor's rounded windows restored is even better.
As for the interior, Rainer's website breathily describes a traditional-sounding interior with wood floors and granite counters, calling its central air and washer/dryer hookups "the essence of modern day convenience." Is a BYOWasher policy convenient?
Finally, there's one big thing that needs to be cleared up: How on earth do you spell the name of the building?* A confused Free Press article from December spells it three different ways, including the exotic-sounding "Rainir." One of the lenders uses "Rainier" but the leasing website and JPMorgan Chase both use "Rainer." Which one is actually engraved on the building?
*UPDATE (4:17 p.m.): Jason Horner of PK Development Group clarifies: "The historical archives all called the building Rainer Court and we decided to revive that name for the rehab. The name is not engraved on the building anywhere to my knowledge, but we will be adding signage soon.
· Rainer Court Apartments [Official]
· 711 Alexandrine: New Apartments in the Distant Future [Curbed]
· Old Yellow Apartment Building Just Sold for $535K in Midtown [Curbed]