Interview With Hudson Companies David Kramer On More Than A Quarter Century Of Roosevelt Island Real Estate Development - Take A Tour Of The New Hudson Related Riverwalk Heights Luxury Rental Building Too

In 1997 the Roosevelt Island Operating Corp (RIOC) designated a joint venture between the Hudson Companies and Related Companies (Hudson Related) to develop the Southtown area of Roosevelt Island with a 9 building development now known as Riverwalk. So began Hudson Companies developer David Kramer's

Image Of David Kramer Being Interviewed At Riverwalk Heights Rooftop Lounge

more than a quarter century relationship with Roosevelt Island. Mr Kramer has now seen completion of Riverwalk Heights, the ninth and final building of the Southtown project.

The Riverwalk Heights building includes staff housing on the first 8 floors for Memorial Sloan Kettering hospital employees, 7 thousand square feet of ground floor and below grade commercial office space for RIOC, 20 floors of market rate luxury rental apartments and an extension of the current Riverwalk Commons between Riverwalk Heights and Riverwalk Park buildings with outdoor recreational areas and 2 dog runs.

I recently met with Mr Kramer, took a tour of the new Riverwalk Heights building and spoke with him about his Roosevelt Island experience. According to Mr Kramer:

What are my thoughts? It's been a quarter century so I've had a lot of thoughts through the years. I don't think when we started in 1997 we had any vision it would end up as beautifully as it has with the types of buildings, with the success and variety we've had building nine different buildings. We've developed everything from condominiums to rental housing to affordable housing to staff housing for the hospitals and then we got involved with Cornell Tech and developed their residential tower so it's been a it's been a fun run. 

We feel very committed as Roosevelt Island stakeholders since we started and we may have saved the best for last. Riverwalk Heights is the tallest building, everything on the west side of Main Street is 16 stories and this building is 28 stories so it's got the best views. 

You're filming me now in the rooftop lounge and up here we have a lounge, a kitchen area that you can reserve to throw a private dinner party, we have a co-working space and a VR room so there's a lot of amenities up here. There's a lot of amenities down in the lower level next to the lobby including a half  [basketball] court, gym,  fitness room and kids lounge...

About the RIOC office space, Mr Kramer says:

... The ground floor we negotiated office space for RIOC. I forget what the backstory was, but part of it was "Hey come on RIOC you could use some nice classy modern office space".

Their old office space was pretty dumpy and as long as we were building new buildings it made sense that maybe we should negotiate something so that they would get a below market office rent and we were happy to have some of the first floor go to RIOC. So RIOC has two levels at the base of the building and I think they're moving in shortly...

I asked Mr Kramer about any future development opportunities on Roosevelt Island. Mr Kramer answered:

... We are stakeholders and we have really enjoyed being here. We know the Island. Never say never.  Right now the Island is built out per the terms of the General Development Plan which is the Lease between the City and the State so at this moment the only way that Hudson Related may get involved is on a subsequent phase of Cornell Tech.

But for the non-Cornell tech part of Roosevelt Island those of us who care about Roosevelt Island have talked about whether there are other development opportunities, whether it has to do with the Steam Plant building or I think the the City's planning to continue to maintain Colar as a hospital so I'm not sure exactly where there may be new opportunities. 

Should Roosevelt Island expand and have a higher residential population you know that's reasonable people can disagree. Certainly we've all seen the issues of the tram being crowded with tourists there's an issue of people getting on the subway in the morning....  you'd have to think through those issues...

As you know Hudson Related is also very involved in the retail leasing of the Island. With the exception of WestView we operate all the other retail on the Island so from the retailer's perspective, the Island could certainly use more foot traffic but  it's to be determines .... 

Mr Kramer added:

.... and the only way people will know what's happening is if they read their Roosevelt Islander blog to find out all the important information about the Island. 

Here's the full interview with Mr Kramer.

Mr Kramer also noted his first experience with Roosevelt Island was before Hudson Related was designated the Southtown developer. As he was running a Roosevelt Island  5K in 1996, he turned his head and noticed being cheered on by Al (Grandpa Munster) Lewis in the homestretch of the race.

Photo of Al Lewis with friends at Trellis Restaurant By Karen Lewis

During my tour with Mr Kramer, I also spoke with Riverwalk Heights Related Rentals Leasing Agent Lisa Ansari about the building. According to Ms Ansari:

Riverwalk Heights is our newest building. it's the ninth building with Related Hudson Venture. We are the also the tallest building so you have this amazing view of the city...   We have studios all the way up to two bedrooms. For two bedroom we have two types. Two bedrooms, one bath and two bedrooms two bath.

We have an amazing amenity space upstairs with rooftops and lounges ....  we also have additional areas where you have to pay an amenity fee. Our amenity fee is $50 per person per month. It includes the VR room, co-working space, we also have downstairs the gym and the kids room and the half basketball court...

... Studios range anywhere from our smallest one being around 430 square feet and the largest one around 560 square feet. Studio price ranges anywhere from around $3200 to $3,300 all the way up to a little over $4,000 for the premium corner studios.

For one bedroom we have square footage around 670 all the way up to about 750 square ft. Some are corner, some are not corner but they all have amazing views and the price range is around anywhere from around $41 or $4,200 and then of course the higher premium floors are 5,000 plus. 

The two bedroom one bath  starts around $61 or $6200 and they are approximately about

850 square feet and the two bedroom two bath which is facing south and west and  north,  that one is approximately 1075 square ft and price range right now they start around $6500 but right now we don't have very many left and the highest floor we have left is at $7280 on the 28th floor...

Here's Mr Kramer shooting hoops at the Riverwalk Heights indoor basketball court and the stunning views high above Roosevelt Island from the building's rooftop terrace. 

The Riverwalk Heights website and Instagram Page has more info on the building.

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Sponsored Post - Roosevelt Island 1 Bedroom 1.5 Bathroom Rivercross Building Coop Apartment For Sale By Owner, $700,000 - Open House This Weekend Saturday February 22 & Sunday February 23

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Bright, high floor 1 bedroom, 1.5 bath (convertible to 2 bedrooms) at Rivercross, 

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Approximately 960+ SqFt of generous living space easily converts to a second small bedroom/ home office / guest room. 

Good condition throughout, excellent closets (seven in all.) All new casement windows offer excellent light, river, bridge and skyline views, and magical nighttime views of the Chrysler and Empire State Buildings. 

Convenient to local shopping, casual restaurants, and outdoor sport venues, and just three minutes to Manhattan, one stop on the F train or the Tram using your MetroCard. % minute walk to Ferry. Maintenance includes electric, gas, heat and A/C. Gym, Pool, Common Room, Playroom, Balcony, and Paid Storage options. 

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Sponsored Post - Discover Riverwalk Landing's Final Boutique Condominium Collection On Roosevelt Island - 1,2 & 3 Bedroom Units For Sale By Sponsor Hudson Related, Perfect As Primary Home, Pieds-À-Terre Or Investment Property

Discover Riverwalk Landing’s Final Boutique Condominium Collection on Roosevelt Island

The summer months might be slower in real estate, but they also present an opportunity to savor prime time living on Roosevelt Island — and to explore the newly available homes at Riverwalk Landing. Whether you are considering trading up, or starting to build equity as an owner, these beautiful apartments offer a unique opportunity to own a home in one of Roosevelt Island’s finest buildings.

Built by the renowned team of The Hudson Companies and The Related Companies in 2007, this modern building features 216 luxurious apartments. And now there is a rare opportunity to make one of these exquisite apartments your home, as the Sponsor releases a boutique collection of apartments for sale publicly. This limited opportunity includes a handful of 1, 2 and 3-bedroom units. The current 3-bedroom listing boasts a stunning 1,122 sq ft terrace with panoramic views of Manhattan and the East River. 

PH 1C

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Last Chance to Buy from the Sponsor This final release of apartments held back by Hudson/Related has garnered immense interest. The first three available apartments sold immediately, and the first 3-bedroom unit with a terrace sold above the asking price. The limited availability highlights the desirability and investment potential of these homes. These residences are perfect as primary homes, pieds-à-terre, or investment properties with excellent rental potential. 

PH 1C 

7D

Modern Updates for Contemporary Living

Units in this collection have been refreshed prior to release, including new Bosch appliances, updated countertops, new bathroom vanities, new medicine cabinets, and modern lighting throughout. These enhancements ensure that the apartment is not only stylish but also equipped with the latest conveniences.

7D

Updated Bathroom

Exceptional Building Amenities

Riverwalk Landing boasts amenities that are designed to enhance and support residents’ living experience. A stunning roof deck features an indoor community/party room equipped with a kitchen, fireplace, TV, and ample space for lounging or co-working. This area opens to an outdoor roof deck with barbecues, dining and lounge furniture, landscaped planters with seasonal and pollinator plants, and spectacular 360-degree views of the New York City skyline, East River, and the 59th Street Bridge. Additionally, residents can enjoy a state-of-the-art gym and weight room that overlooks the courtyard and the Manhattan skyline, as well as a dedicated children’s playroom and 24/7 attended lobby. The lobby and hallways have been recently updated, ensuring that coming home to Riverwalk Landing is always a delight.

Tax Abatement Benefits Another significant advantage of these homes is the current and ongoing tax abatement, which extends through mid-2027, with taxes phased in through 2032. This financial benefit reduces monthly expenses initially, putting them within reach of more purchasers, and also making them an even more attractive investment. 

Living In Comfort

Personal Insights from Kaja Meade with The Corcoran Group: 

Your Expert on Roosevelt Island Real Estate As a long-time resident of Roosevelt Island, and sales agent with The Corcoran Group, Kaja Meade is the sponsor’s sales agent for this exclusive collection. In partnership with the exclusive marketing and sales team at Corcoran New Development, she brings her own wealth of local real estate expertise. Kaja and her family moved to Roosevelt Island from the Upper East Side over 12 years ago. Initially living at 405 Main Street, she now owns a coop home in Rivercross. Kaja can work with buyers, leveraging a wealth of on-island experience buying and selling in all the coops and condo buildings, to understand the process and the value of purchasing at 425 Main.

"When Hudson/Related decided it was time to sell their final inventory in 425, they reached out to us because of the intimate and successful familiarity with real estate on Roosevelt Island," Kaja shares. "Helping someone find a home or position their home to sell in the best way possible, is really why we do this work." 

7D

Roosevelt Island: A Flourishing Real Estate Market 

The real estate market on Roosevelt Island has been thriving. In 2022, there were 43 open market sales (15 condos, 28 co-ops), with Kaja participating in 28% of the transactions. In 2023, there were 26 sales (9 condos, 17 co-ops), with Kaja involved in 35% of these transactions.

Already this year, there are 28 properties on Roosevelt Island that are sold or in contract, with at least three of those sales just under or exceeding $2,000,000. "Roosevelt Island is a great place to buy, and this new condominium inventory at Riverwalk Landing is a truly rare opportunity," Kaja emphasizes. 

9F

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One of the significant advantages of purchasing from a sponsor is the absence of a board package requirement, making the buying process more efficient and less intrusive. This streamlined process is particularly appealing to first-time buyers looking for a hassle-free experience. 

9F

Don't Miss Out: Schedule Your Appointment Today 

Full listing information can be found on the Corcoran website. Showings are available by appointment, and with Kaja Meade's expert guidance, you can explore the possibilities that await you in this remarkable building. Roosevelt Island’s charm, combined with the luxury and amenities of Riverwalk Landing, creates a perfect blend of tranquility and modern living. Don't miss your chance to be part of this vibrant community and own a home that offers both exceptional quality and investment potential. Contact Kaja Meade today and make Riverwalk Landing your new address in New York City.

Is Working From Home Taking Over Your Living Space? Professional Office Space Available In Roosevelt Island Rivercross Building

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Is working from home taking over your living space?

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Sponsored Post - Discover The Hidden Gem Of Duplex Living On Roosevelt Island With Local Resident And Corcoran Real Estate Agent Kaja Meade - 2 Levels Of Living Space Offering Perfect Blend Of Space, Comfort And Convenience

Kaja Meade, a real estate salesperson with the Corcoran Group, is also “the Roosevelt Island whisperer” when it comes to real estate. 

Kaja, who also owns an apartment and lives on Roosevelt Island, is involved in over a third of the property sales transactions for Roosevelt Island. Her intimate knowledge and affection for its offerings ensure that she guides clients towards their ideal island home with expertise and enthusiasm. Living and breathing the island life herself, Kaja's not just about selling properties; she's all about helping folks find their perfect corner of this unique NYC gem, deeply appreciating what Roosevelt Island livable charm has to offer as a cozy, community-centric spot in the big city.

According to Ms Meade:

As a long-time resident and real estate agent on Roosevelt Island, I've had the privilege of witnessing the island's transformation over the years. From its beginning as a haven for innovative and affordable housing to its emergence as a vibrant, growing, and diverse community, Roosevelt Island continues to surprise and delight its residents with its unique lifestyle.

One of the best-kept secrets of living on Roosevelt Island lies within its co-op buildings – their distinctive duplex apartments. When I first moved to the island and began my search for the perfect home, I was unaware of the existence of these hidden gems. It wasn't until a fellow Roosevelt Islander mentioned them in passing that I became intrigued.

I remember the excitement I felt when I learned about these multi-story homes. The idea of having two levels of living space in a cooperative building was a revelation to me. At the time, only a handful of duplex units had surfaced on the market, and they were snapped up almost as soon as they appeared.

Luckily, my perseverance paid off, and my family and I were able to secure one of these coveted apartments. The process of renovating and personalizing our new duplex truly made Roosevelt Island feel even more like home to us.

Now, as a real estate agent, I am thrilled to share that there are currently four 3-bedroom duplexes available for purchase within Island House and Rivercross. These special residences offer the perfect blend of space, comfort, and convenience, making them ideal for anyone seeking a unique living experience.

The asking prices for these apartments range from $1,150,000 to $2,195,000, depending on factors such as location, views, and amenities. One of the units boasts a washer and dryer, while another features a balcony – perfect for enjoying the breathtaking views of the East River and Manhattan skyline.

Two of the duplexes have been fully renovated and are move-in ready, while the other two have been freshly updated, allowing buyers to add their personal touch to the space. Regardless of their current condition, all four units offer stunning views and ample natural light across two floors, creating a serene and inviting atmosphere.

One of the standout features of duplex living is the separation of living space and sleeping quarters. With the bedrooms located downstairs and the living area upstairs, occupants can enjoy peace and privacy without the disturbance of noise from neighbors above. It's a small but significant detail that enhances the overall quality of life for residents.

 

If you've ever been curious about duplex living or have considered making Roosevelt Island your home, now is the perfect time to explore your options. Whether you're drawn to the convenience of co-op living or the allure of duplex space, these units offer something for everyone.

If you're interested in scheduling a viewing or learning more, please don't hesitate to reach out. As a resident and local real estate agent on Roosevelt Island, I'm here to help you find the perfect home that suits your lifestyle and preferences.

Discover the hidden gem of duplex living on Roosevelt Island – where modern convenience meets classic charm in the tranquil heart of New York City.

Join me and Kaja Meade for a tour of one of these duplexes 12 PM Saturday April 20 at our Instagram pages - @Roosevelt Islander or RooseveltislandRealestate.

See you tomorrow.

UPDATE 4/20 - Take a tour of the Island House duplex with Kaja and me.

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Pioneering Roosevelt Island Family Sell Rivercross Co-op Apartment For Record Breaking $2.09 Million After 47 Years Of Ownership - What Happened To The Roosevelt Island Affordable Housing Experiment?

One of the first families to live on Roosevelt Island sells 47-year home for a record price https://t.co/3rmu27UQvA pic.twitter.com/feU7iyreT6

— New York Post (@nypost) February 2, 2024

The  NY Post reported on February 2:

... At the Rivercross co-op, which stands at 531 Main St., unit 321 traded hands last week for $2.09 million — dethroning the previous record held by unit 10M at 455 Main St., which sold for $2 million in 2019.... The just-sold Rivercross home had asked $2.49 million when listed. The unit had long been home to the Enock family. This transaction marks the end of nearly five decades of their ownership.

The Enocks — led by the late patriarch David, the late matriarch Wanda, and their sons Christopher and Matthew — were pioneers on Roosevelt Island, being the very first family to call the Rivercross complex their home when they paid $27,000 for their co-op apartment and took up residence in September 1976....

Click here for the full NY Post article.

The 1900 square foot apartment has 4 bedrooms, 3 baths and a balcony.

Roosevelt Island resident and listing agent for this apartment sale at the Rivercrosss building, Kaja Meade, adds:

The Island is a great place to live and relatively afforable (by Manhattan standards). The Enochs are evidence that people who buy on Roosevelt Island love it and stay. There's also opportunities on Roosevelt Island across all price points and all have access to the same great amenities and views. As a resident myself, I love living here and know all its advantages - and I'm always happy to connect and show folks or educate people who may be new to Roosevelt Island. 

The Roosevelt Island Rivercross Co-op was built in 1975 under the NY State Mitchell Lama affordable housing subsidy program. A 1977 NY Times article headline declares:

Roosevelt I Coop Buyers Eager For Utopia To Begin

As reported December 3, 2013, the Rivercross Co-op voted to approve a market rate privatization plan and exit the Mitchell Lama program imposing a transfer fee on first time sales:

... equal to 45% of the difference between the gross selling price of the apartment and the Mitchell-Lama price of the apartment....

Here's what Roosevelt Island was like for the pioneering residents of the 1970's who benefited from the Mitchell Lama affordable housing program.

 

The Neighborhood Slice TV program in 2014 profiled an early Roosevelt Island pioneering resident, Sande Elinson, who moved here with her family in 1977. 

Ms. Elinson notes that Roosevelt Island:

... was all affordable. That was the whole reclaiming this and keeping people in the city. Keeping the middle class and then all these families, all these kids, we would sit in the parks and we realize, boy, we could set up a  baby sitting coop, a little league, an artists association a garden...

... What was available to us in 1976 on a teacher's income is not available now but the new buildings have young families in them....

... It's heaven... a beautiful wonderful place still to live. 

 

As reported in April 2023:

Roosevelt Island was built by government in the 1970's as an experiment in developing affordable housing for a multi-income, multi racial and disabled population. What happened to the Roosevelt Island housing experiment from the 1970's to today is the subject of an excellent piece of journalism by the Plot Of Land Podcast. The reporters of this 2 part series are Melissa Fundira who grew up on Roosevelt Island and Jameela Hamond....  

NY’s Roosevelt Island was imagined as an idyllic, multi-racial, multi-income community. In episode 6 of #PlotofLand we talk to current-day & displaced residents & look back at the decisions that created & dismantled housing as a human right. 🎧 https://t.co/4p7vHlZpza pic.twitter.com/yscZVIGfhH

— Monument Lab (@Monument_Lab) April 20, 2023

We’re looking at what happened after subsidized affordable housing programs expired in the 2000s on New York’s Roosevelt Island.

Episode 7 of #PlotofLand is out now! Available wherever you get your podcasts. https://t.co/4p7vHlYRJC pic.twitter.com/JAgyGmEz8a

— Monument Lab (@Monument_Lab) April 20, 2023

In 2020 reported:

You Tuber Black In The Core visited Roosevelt Island recently and made an excellent video report on Roosevelt Island history and current issues of affordability and gentrification....

One does not necessarily have to agree with all of the reporting in this video but the issues raised of gentrification and affordability are real....

In October 2020, developer Hudson Related opened Riverwalk Park which had over 70 thousand lottery applications for a rental apartment in the 340 unit affordable housing building.

Here's more on the past hard fought efforts to negotiate affordability plans for the privatization of the former Westview, Island House and Rivercross Roosevelt Island Mitchell Lama buildings.

There are currently 16 one bedroom income restricted affordable apartments for rent at the Westview building. The deadline to submit applications is February 28.

Update On Roosevelt Island Riverwalk Building 9 Construction Progress From Hudson Related Developer David Kramer - It's Going Up Fast, New Floor Of Concrete Poured Every 3 Days, Watch The Interview

Developer Hudson Related began construction on the 28 story Roosevelt Island Southtown Riverwalk Building 9 in November of 2022. 

I spoke with Hudson Related developer David Kramer last Monday at the building site about the construction progress. According to Mr Kramer, 

... We're now at the exciting stage of concrete where we pour a new floor every three days, so a three-day cycle. We're pouring the fifth floor tomorrow, which is Tuesday May 9th and we're pouring the sixth floor Friday and so basically, if you think about every three business days, we're pouring a different floor. We're getting to the top floor at the end of August. We're assuming we're going to top out this project at the end summer, end of August. 

Now this is sort of an exciting part of the construction where the concrete guys are really running the show and pouring a new floor every three days and they're followed behind by the plumbers, electricians, mechanicals and other subcontractors who will always be a few floors below where the concrete is poured....

.... Most important when we top out, we have a party and a Topping Out T Shirt... 

Mr Kramer anticipates Riverwalk Building 9 being completed by the end of 2024, beginning of 2025.

Here's the full interview with Mr Kramer.

and a photo montage showing the progress of construction at the site.

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 As previously reported:

... the lower eight floors of Riverwalk Building 9 will be acquired by Memorial Sloan Kettering Hospital for workforce housing and the upper 19 floors will be market rate rental apartments.

Building 9 will have combined 7 thousand square feet of ground floor and below grade office space for the Roosevelt Island Operating Corp with a separate entrance and signage....

... Hudson Related will create a Public Commons space between building 8 and 9 that will include a new dog run. picnic tables, grill stations, amphitheater steps, porch swings, hammocks and cherry grove as shown below....

More information on Hudson Related $187 million Riverwalk Building 9 project from this RIOC Memo

 and this November 17, 2022 post.