After many dismal months, owners of rental buildings are reporting optimism as demand picks up and apartments fill again.
Testing the market’s recovery, in a way, is 68–70 Spring St., a new 11-unit apartment building in SoHo expected to open this month with rents ranging from $7,000 to $12,000 per month.
The developer, the Zaccaro family, a longtime local landlord, did not choose this moment to come online. No. 68–70 has been in the works for four years—as opposed to the more typical year and a half—after facing lawsuits from neighbors, polluted soil and mounting debt from the Covid-19 pandemic.
“It has been a very difficult process,”
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