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New Development on Avenue D

Real Estate Developments

Alphabet City extends from 14th Street to Houston Street, in between Avenue A to Avenue D. Historically the area has always been diverse. German immigrants first developed the area in the 1800s, and later in the 1900s Irish, Italian, Jewish communities were established in the neighborhood. By the 1980’s a large number of Puerto Ricans settled in the area, many of whom were artists and musicians who helped establish the creative culture of the area. Additionally, the area is known for Tompkins Square Park, the Nuyorican Poets Café, galleries, cafes, and now for its new luxury apartments.

In recent years, Alphabet City has attracted developers and young buyers. Although the history of the area was once marred by drugs and violence (New Yorker’s coined different names[1] for each avenue such as Alive, Breathing, Comatose, Dead), the growth of real estate developments and a vibrant artistic culture have transformed the area, making it a very sought after location to live. One of the most recent luxury developments is The Niko East Village, located at 751 East 6th Street between Avenues C and D, close to Tompkins Square Park.

L&M Development developed The Niko’s twelve stories into a mixed rental and condo residential building with 82 units.[2] The apartments range from studios, which start at around $2,900/month, to three bedrooms, which go up to about $6,000/month. At the moment, prospective renters can get two months free rent with an 18-month lease.[3] Although these prices are high for this area, they align with other luxury rentals in the East Village. The property features “oversized windows with solar shades, white oak wood flooring, quartz countertops, stainless steel appliances and Grohe fixtures. Select units offer private terraces, generously sized walk-in closets, elevated ceilings and washers and dryers.”[4]

In addition to the building’s high-end design, amenities include concierge services, part-time attended lobby, a roof deck with cabana seating, a residents lounge, fitness center, and parking for bicycles. But perhaps the building’s best perks are the views. “The Niko offers sweeping views of New York City, from the World Trade Center to the Empire State Building to the glinting East River.”[5] Although the leasing has been launched, the new development is not ready for residents. There will be an opening event on August 25, 2018.

[1] See, Hughes, C.J. (Sept. 6, 2017) “Living in Alphabet City.” The New York Times. Available at: Accessed on August 22, 2018.

[2] The Niko. Available at: Accessed on August 22, 2018.

[3] See

[4] The Niko. “Residences.” Available at: Accessed on August 22, 2018.

[5] Op. Cit. n2.

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