It’s no secret rising New York City rents are putting young professionals in a financial bind and housing decisions up in the air when lease terms near their end. Lease concessions and reduced rents at the onset of the COVID-19 pandemic in 2020 made luxury apartments affordable for the many young singles and couples who opted to remain in New York City amidst its mass shutdowns. As the Manhattan rental market has roared back to life, rents have increased by hundreds of dollars and concessions have been scaled back, pricing many out of their current living situation.
Now accustomed to the lifestyle of modern, amenity-rich buildings and leery of returning to roommate shares, millennial renters are adjusting and finding housing solutions across the Hudson River in Jersey City, NJ, the fast-growing Hudson County city acclaimed for its diverse dining, entertainment and cultural scene and neighborhoods rich in history and charm. But it’s not just Jersey City’s downtown waterfront, Paulus Hook or Hamilton Park where these savvy renters are turning to find contemporary buildings filled with indoor and outdoor amenities.
Spurred by Jersey City Mayor Steven Fulop to encourage responsible development away from the waterfront and attract meaningful development throughout the city, neighborhoods west of downtown have become popular landing spots for sophisticated renters fleeing New York City. Nowhere is this more evident than on the West Side where its newest rental building, 3 Acres, has experienced record-breaking activity for this area with over 500 homes leased less than five months after opening. Notably, 25% of lessees have been former five borough residents, a figure unheard of beyond downtown Jersey City just a few years ago.
Eli Spirn is one of the more 100 renters from New York City who have chosen to call 3 Acres home. Mr. Spirn was renting in a modern condo on the Upper West Side when his rent was increased significantly, prompting a search for a new home.
“They raised my rent a lot,” he said. “I initially looked at apartments in the Upper West Side neighborhood but didn’t like what I saw.”
Mr. Spirn was seeking a rental with ample living space and access to sought-after amenities such as an outdoor pool and fitness center. A lack of quality and affordable options on the Upper West Side compelling Mr. Spirn to turn his attention across the Hudson River to Jersey City.
“I was looking online at apartment listing services and 3 Acres in Jersey City kept appearing in my search criteria,” Mr. Spirn recalled. “My sister-in-law also sent me the community’s website link. It was enough to convince me to visit.”
Mr. Spirn was wowed by the lengthy list of five-star amenities at 3 Acres, homes larger than many in New York City and great access into Manhattan’s work centers.
“I didn’t know a rental building could provide amenities of such relevance,” he said. “3 Acres had everything I was seeking and more. My apartment has more interior space. The low maintenance lifestyle gives me plenty of time to enjoy all the five-star amenities. My commute to Manhattan for work is also convenient via the Hudson Bergen Light Rail to the Exchange Place PATH station.”
Luxury homes, world-class amenities and an easily accessible location create the complete lifestyle package that’s drawing young couples and single professionals to 3 Acres. Monthly rents currently start from the mid-$1,700s with incentives that include one month free on a 13-month lease.
Residents can choose from a wide variety of floor plans ranging from straight studios, studios with alcoves that mirror the space of a one-bedroom home, traditional one-bedroom layouts, and two-bedroom residences. A selection of studio homes is furnished by Resource Furniture, a leader in transformative and multifunctional spaces, which features three-in-one pieces that quickly transform living areas into work and sleep spaces.
Upscale finishes include central heat and air conditioning, in-home washer and dryer, complimentary window treatments, and kitchens with quartz countertops, stainless steel appliances and soft-close cabinets. Lavish baths are adorned with porcelain tile floors and vertical, ceramic subway tile shower walls, while integrated technology features include a Smart Home entry system and thermostat and lighting control.
70,000 square feet of amenities include an elegant, attended lobby, state-of-the-art fitness center, infrared saunas, conference room, work pods, a chef’s table with demonstration kitchen, multi-sport simulator and screening room, resident lounge with a saltwater aquarium, and a game room with a mini bowling alley, ping pong, shuffleboard, pinball and arcade games. On-site musical entertainment emanates from a Steinway Spirio digital grand piano in one of the lounge spaces that self-plays pieces from a vast library of musical content, as well as simulcasts live performances from great pianists around the world.
Extensive outdoor space is highlighted by a rooftop terrace with BBQs, dining areas, community garden, and a dog run and three distinctive outdoor courtyards feature a pool and sundeck with jacuzzi, cabanas, and loungers, zen garden, outdoor Yoga, bocce, chess, and ping pong.
The 3 Acres resident experience is further enhanced by the onsite presence of LIVunLtd., a global luxury concierge and amenity management brand that will oversee a robust calendar of private residential events and help bring 3 Acres’ social spaces to life. Additional conveniences include resident and bike storage, covered, climate-controlled parking with electric charging stations, electric scooter rentals, and shuttle service to the Journal Square PATH Station.
The building’s onsite retail experience has been enhanced by the recently opened Three Thirds Café coffee shop and will soon feature The Lobby Bar and Table at 3 Acres restaurant.
Located near the banks of the Hackensack River, 3 Acres is situated in a neighborhood dotted with dining, recreation, and nightlife options, while retail shopping can be found at the nearby Hudson Mall. The 273-acre Lincoln Park features open space, twenty-one public tennis courts, three playgrounds, a dog run, nature trails, several sports fields, and Skyway Golf Course, a scenic 9-hole layout lined with colorful fescue, magnificent dunes and rolling fairways.
3 Acres is well connected to downtown Jersey City and Manhattan via the Hudson Bergen Light Rail’s West Side Avenue Station located across the street. The building is also a quick drive to the New Jersey Turnpike and Routes 440 and 1 and 9, allowing residents to reach all the businesses and highly popular recreational options in northern New Jersey and the famed Jersey Shore.
For more information on 3 Acres and to schedule a visit to experience the fully-furnished model residences and amenities, please call 201-733-3000 or visit www.3AcresJC.com. The building is located at 400 Claremont Avenue, Jersey City, NJ 07304.