Leasing has begun at a new luxury 11-story apartment building in Forest Hills that will also feature a Trader Joe’s on its ground floor.
The new building, a red-bricked development called The Yellowstone, has 166 units and is located at 69-65 Yellowstone Blvd.
The building comes with a fitness center, an outdoor common terrace and a rooftop terrace, among other amenities. It is a block away from the bustling commercial strip of Austin Street, while a subway and Long Island Railroad station are close by.
There are one- and two-bedroom apartment units available to prospective tenants, with fees starting at $3,300 per month, according to Slate Property Group and Groban-Gross Properties, the developers behind the project. Tenants will begin moving into the building next month, a spokesperson said.
The Yellowstone’s units — ranging in size from 475 to 950 square feet — feature Bosch stainless steel appliances, black granite kitchen countertops and backsplash, oak flooring and oversized windows. Some units come with private terraces.
The development also includes 50,000 square feet of retail space on the cellar and ground floors, as well as 186 parking spaces.
It was announced in May that a Trader Joe’s will take up at least some of the retail space. The news was welcomed by many local residents given the development is situated where a Key Food supermarket was located for years. The Yellowstone project generated some controversy when it was first announced, since the Key Food supermarket was viewed by many as a community necessity.
David Schwartz, the founding principal of Slate Property Group, said he was excited to see leasing commence at The Yellowstone and said it is an attractive proposition for renters.
“We are so proud of this building and the way it seamlessly integrates into its surrounding community, offering residents phenomenal access to shopping, restaurants, parks and transit,” Schwartz said.
“You don’t often see new construction like The Yellowstone in a neighborhood like Forest Hills. We can’t wait to begin seeing residents tour its new apartments to see for themselves.”
The market-rate units are being leased exclusively through the Brooklyn-based real estate firm MNS Real Estate. For leasing information, click here.
The building also includes 50 affordable apartments which will be available in cooperation with the city in the near future, a spokesperson said.
Richard Grobman, principal and manager at Grobman Gross Properties, said the building will be highly sought after.
“It’s a rare moment when a building like this opens up for leasing in one of the most desirable residential neighborhoods in all of New York City,” Grobman said. “We’re thrilled to partner with Slate on this project and to begin offering these homes to New Yorkers.”
