Common Announces First Manhattan Coliving Home

NEW YORK, Nov. 15, 2018 /PRNewswire/ -- Common, the nation's leading residential brand enhancing the quality of living for members and value of real estate for partners through convenience and community, today kicked-off a partnership with YD Development for a new coliving home in Hell's Kitchen, Common's first announced home in Manhattan. The project, Common Clinton, begins construction today and is not only the coliving leader's eleventh announced home in New York City, but the most eco-friendly and efficient home in their portfolio.

"Common's expansion into Manhattan offers a new opportunity for us to enhance the quality of living on the thriving West Side, where mega developments are bringing more businesses, restaurants and arts and culture spaces," said Sam Adler, Director of Real Estate at Common. "We are proud to partner with YD Development on this new project, which will be a sustainable model for coliving and bring the convenience and community Common is known for to Manhattan."

The five-story, 11,000 square foot building is being redeveloped by YD Development, with Common serving as the property manager. Common Clinton will feature 32 beds, a multi-functional common room, and a green roof with 360 degree views of Hell's Kitchen designed by Shigeo Kawasaki. It's a short subway ride on the C or 7 trains into Long Island City and Amazon's HQ2. The home will be Common's most energy efficient home to date and a leader in best sustainable practices for a co-living building. Brooklyn SolarWorks will install a custom 14.4kW solar canopy that, combined with strategically placed motion sensor lights, low flow plumbing fixtures, and smart thermostats will offset a significant portion of the building's energy footprint. The home is expected to open in 2019.

"We're thrilled to partner with Common on our first development deal," said Derek Hsiang, Partner of YD Development. "We are fanatically obsessed with creating an optimal member experience across multiple fronts, and combining that approach with Common's co-living model makes perfect sense. Installing green features in a normal multi-family building only solicits passive involvement from the residents. But with Common, the residents are a community. When everyone is actively contributing to a sustainable shared living experience, you get exponentially better results."

Rent at Common Clinton is one bill that includes all utilities, high-speed wi-fi, beautifully designed and furnished apartments, weekly cleanings of common spaces, shared supplies, and hospitality-grade amenities.

Common opened its first New York City home in 2015, and has since grown to offer more than 300 beds across Brooklyn and Queens. Over the next two years Common is on track to have over 20 homes in the city meeting their high consumer demand of 1,400 nationwide applications per week. Common's current New York City portfolio includes Brooklyn homes in Park Slope, Crown Heights, Williamsburg and Prospect Lefferts Gardens, and the Ridgewood neighborhood in Queens. Recently, Common announced the 223-bed home Common Addams, the largest coliving home in Chicago and the Midwest.

For more information about Common, visit www.common.com.

About Common
Common is the nation's leading residential brand enhancing the value of real estate by offering convenience and community to our members through coliving and traditional apartments. Our signature approach to end-to-end property management and technology offerings allow us to deliver unparalleled experiences across 20 buildings, 6 cities, and over 650 members. Common is the preferred choice for both residents looking for a stress-free and all-inclusive living environment, and for real estate owners seeking reliable, above-market returns. Launched in October 2015, we now operate homes in New York City, Chicago, San Francisco, Oakland, Seattle, and Washington, D.C. and receive over 1,400 new member applications per week. For more information, visit www.common.com and follow us on Instagram @hi.common.

Media Contacts
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SOURCE Common