The Roslyn Lumber Yard Project, a housing and retail development on Lumber Road in downtown Roslyn, took another step forward last Friday when it formally opened leasing for residential tenants.
“The apartments have exceeded my lofty expectations,” said Peter Crifo, the real estate broker in charge of residential leasing at the development. “People are strongly responding to the apartments’ ceiling-to-floor windows and open floor plan.”
The complex includes 20 apartments, of which 18 are two-bedrooms and two are one-bedrooms. Its first tenant signed a lease for one of the two-bedroom apartments on Saturday, a day before construction was completed.
The last steps in development included landscaping for the rooftop deck, the erection of gym equipment and final touches on the lobby.
The two-bedroom, two bath apartments range from 1,306 to 1,434 square feet, with rents beginning at $4,750 per month and reaching $5,950 per month for premium units. Prices for the one-bedroom apartments are not yet available.
Occupancy will begin in early December, Crifo said. He anticipates that the residential spaces at the building will all have tenants no later than six weeks after that.
Retail outlets will occupy the first floor of the building, while apartments will take up space on the second and third.
The retail space at the complex will be ready for move-in by late November, said Kevin Durson, an owner of the Lumber Yard Project along with John Santos and Josh Amini.
In late October the complex signed up its first retail tenant, a women’s clothing boutique called Shag New York.
Durson said he is in lease negotiations with seven or eight retail tenants, including a hair salon, a shoe company, a wellness center and additional clothing stores.
The cost of retail space in the Lumber Yard ranges from $50 to $60 per square foot, said a Parallel Realty broker, Jordan Domroe, who represents the Lumber Yard’s retail property.
Crifo acknowledged that some prospective residential tenants have expressed concern about noise emanating from the retailers, but said the complex was built with sound insulation in mind.
“We don’t anticipate any level of sound going from commercial tenants up to residential apartments,” he said.
Each residential tenant will have a reserved parking spot, which Crifo noted has been a concern of those looking to live in downtown Roslyn.
The apartments offer a change of pace for many in the area who live in traditional two- or three-story homes.
“The apartments will be a welcome home living solution for many people who are downsizing or looking for rental apartments with beautiful amenities,” he said.
